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The Business Case is part of Stage 2: Definition of the project lifecycle and working towards approval at Gateway 2: Investment justification
The Project Manager is responsible for the preparation and production of the Business Case. A useful starting point to the production of the Business Case is to transfer relevant information from the Project Brief. The Project Manager must actively engage with key stakeholders to gather the relevant input to support the Business Case. Before going to the Board for approval, the Project Manager must obtain the Project Sponsor/Executive sign-off.
The Business Case presents to the Board the justification for the undertaking of a project as to whether it is desirable, viable and achievable. This is based on what the project plans to deliver assessed against its strategic priority, its estimated costs, the anticipated benefits to be gained and any major risks associated with the project. It should also present a summary of options identified to achieve the deliverables of the project and supported by a recommended option for consideration by the Board. It is the Business Case that drives all decision making by ensuring that the project remains justified and that the agreed deliverables and expected benefits can be realised.
The appointed Board will review the information and make an informed decision as to the viability of the project. Approval will confirm the investment to be assigned to the project. Following approval of the Business Case, it will need to be actively maintained to reflect the project status at key decision points during the project lifecycle.
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