The Business Case, in addition to being an essential component of the Project Charter, in itself is also a very important document. In very simple terms, the business case tells the reader why the project is worth all the dollars being spent!
Let’s look into some of the very basic questions pertaining to the Business Case,
1. What is a Business Case?
A formal document highlighting the reasons for initiating a project. It is basically prepared with keeping the audience in mind which is almost always the higher management or some other big shots!
2. Why have a Business Case?
It serves as a document to convince and get the approval of the decision maker (someone from higher management, the customer or some other big shot stakeholder) to initiate the project. It also includes financial information like Return on Investment (ROI) of the project
3. Who owns the Business Case?
The Sponsor! Sponsor is someone who is paying for the project. But the sponsor doesn’t write the business case herself and will often delegate its preparation to a Project Manager or a Business Analyst. It is also possible that suppliers, users, SMEs and external consultants contribute in writing the Business Case
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