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The project business case
Chapter one the introduction, who will produce the business case plus lets discuss those risks
Chapter two the how much
Chapter three the what and the when
Chapter four the who
Chapter five the why are we doing this project
Lastly Chapter seven where are going to build it
In summary in this podcast
This whole episode with all the Chapters is no more than 17 minutes long
To start with here are considerations we may need to think about before we begin to produce the business case. So if you don’t need this introduction you can skip to the next chapter
Chapter one who will produce the business case and those risks again?
What are talking about here, this is the idea or problem to be solved or addressed by the organization and who will produce the business case itself?
Where did the idea come from?
One of the next questions should be what, problem is it, that the project is addressing, is this just a new idea, born from the Chief Executive or the Vice President, as they stepped out of the shower that morning?
These may include mergers and acquisitions, digital IT software developments, process improvements, purchase or the refurbishment of new buildings or new housing developments, civil engineering works etc.
The responsibility for the approval of the business case rests with the project sponsor. That’s right the project sponsor and not the project manager. The project manager may have had an input to the business case and indeed may have written several of the sections, but the overall sign off responsibility rests with the project sponsor
The business case risks
These risks are sometimes not discussed or the risks are ignored at this stage, as the risk identification process, can be perceived as a minor inconvenience. This can mean the risks are not identified until much later in the project life cycle. As the impact of a major risk, can have grave consequences for the project or the wider organization. This is because, as the project progresses the costs of any changes to the project, have a greater cost in the later project phases, this is due to the project being underway and may even have completed some of its deliverables or met some outcomes, than if the risks had been addressed at the outset of the project. In addition, the risks once identified should be assessed for there likely probability and impact. Following this the questions should be asked can these risks probability of occurrence and impact be reduced or negated
This is usually because the stakeholders have not undertaken a full risk assessment of the proposed idea or problem at the outset of the project
Support the show (https://projectmanagerpodcast.online/support-the-show/)
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Chapter one the introduction, who will produce the business case plus lets discuss those risks
Chapter two the how much
Chapter three the what and the when
Chapter four the who
Chapter five the why are we doing this project
Lastly Chapter seven where are going to build it
In summary in this podcast
This whole episode with all the Chapters is no more than 17 minutes long
To start with here are considerations we may need to think about before we begin to produce the business case. So if you don’t need this introduction you can skip to the next chapter
Chapter one who will produce the business case and those risks again?
What are talking about here, this is the idea or problem to be solved or addressed by the organization and who will produce the business case itself?
Where did the idea come from?
One of the next questions should be what, problem is it, that the project is addressing, is this just a new idea, born from the Chief Executive or the Vice President, as they stepped out of the shower that morning?
These may include mergers and acquisitions, digital IT software developments, process improvements, purchase or the refurbishment of new buildings or new housing developments, civil engineering works etc.
The responsibility for the approval of the business case rests with the project sponsor. That’s right the project sponsor and not the project manager. The project manager may have had an input to the business case and indeed may have written several of the sections, but the overall sign off responsibility rests with the project sponsor
The business case risks
These risks are sometimes not discussed or the risks are ignored at this stage, as the risk identification process, can be perceived as a minor inconvenience. This can mean the risks are not identified until much later in the project life cycle. As the impact of a major risk, can have grave consequences for the project or the wider organization. This is because, as the project progresses the costs of any changes to the project, have a greater cost in the later project phases, this is due to the project being underway and may even have completed some of its deliverables or met some outcomes, than if the risks had been addressed at the outset of the project. In addition, the risks once identified should be assessed for there likely probability and impact. Following this the questions should be asked can these risks probability of occurrence and impact be reduced or negated
This is usually because the stakeholders have not undertaken a full risk assessment of the proposed idea or problem at the outset of the project
Support the show (https://projectmanagerpodcast.online/support-the-show/)
Buzzsprout - Let's get your podcast launched!
Start for FREE
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.