Business Case Flashcards
What is a business case?
Key component of the PID
Major control document that is referenced on a regular basis to ensure and confirm that the project remains viable
Key goal is to test the viability of the project
What is within a business case
Justification for the project, such as value for money and why it should be done now.
What should you consider when developing a business case?
Why do we need to undertake the project
What are the business benefits
What are the risks
What are the potential costs
How long will the project take
Who writes the business case?
Programme management, but many programmes delegate this work to the project manager
Project assurance also help to develop the business case,
What question does the business case seek to answer?
“is the investment still worthwhile?
When should the business case be reviewed by the project board?
End of Starting up a project
End of the Initiating a project
End of each stage
During revisions
Who should review the business case?
Project Manager and Project Board
When should the business case be reviewed by the project manager?
During revisions
End of each stage
Final stage
What is the Outline Business case?
The outline business case is part of Starting Up a Project and is derived from the project mandate. It is more of an estimate and less refined.
What is the detailed business case?
It is a more refined business case, which takes place in initiating a project phase. Makes use of the project plan and risk register for more detailed costs, timescales.
