Is your Project Still Viable? A Guide to Business Case Reviews

Guest – Elizabeth Harrin

In this episode, we dive into the intricacies of maintaining a viable business case throughout the project management lifecycle with our guest, the insightful author of a recent article on this critical topic. We explore what it means to continuously review the business case and ensure it remains fit for purpose, offering practical advice for project managers at every stage.

Key Discussion Points:

• Strategic Alignment: How to ensure your project remains aligned with the evolving goals of your organization, especially during multi-year projects or after strategic shifts.
• Affordability: Understanding the financial health of your project, considering cost overruns, scope changes, and the tricky subject of sunk costs.
• Riskiness: Assessing and managing the changing risk profile of your project in the context of the overall portfolio risk.
• Achievability: Evaluating whether your project can still be completed given changes in resources, timelines, and external factors.
• Benefits: Ensuring the projected benefits justify the ongoing investment, considering delays and additional costs.

We also discuss the importance of carrying out these checks at key governance points and gate reviews, raising concerns with stakeholders, and making tough decisions, including the potential need to cancel a project if the business case no longer holds up.

Join us as we uncover the essential elements of business case reviews and how to navigate the challenges to keep your project on track. Whether you’re a seasoned project manager or new to the field, this episode offers valuable insights to enhance your project management practices.

Don’t stop learning, check out other episodes of The PMC Podcast