Business Interest in PRINCE2 7 refers to a crucial perspective that must be represented within the project management team structure. This interest focuses on ensuring that the project delivers genuine value and remains viable from an organizational standpoint throughout its lifecycle.
The Busines…Business Interest in PRINCE2 7 refers to a crucial perspective that must be represented within the project management team structure. This interest focuses on ensuring that the project delivers genuine value and remains viable from an organizational standpoint throughout its lifecycle.
The Business Interest is primarily concerned with three fundamental questions: Is the project worthwhile? Does it align with organizational objectives? Will it deliver the expected benefits? This perspective ensures that investment decisions are sound and that resources are being allocated appropriately to achieve desired outcomes.
Within the project board structure, the Executive role represents the Business Interest. The Executive is accountable for the project's success and must ensure that the project remains aligned with business objectives. This individual has ultimate authority for the project and is responsible for securing funding, making key decisions, and maintaining focus on business justification.
The Business Interest perspective evaluates the project through the lens of return on investment, strategic alignment, and organizational priorities. It ensures that the project continues to make business sense as circumstances change. If market conditions shift or organizational priorities evolve, the Business Interest helps determine whether the project should continue, be modified, or be terminated.
Key responsibilities associated with the Business Interest include approving the Business Case, ensuring ongoing viability, balancing demands from users and suppliers, and making decisions about project continuation at stage boundaries. The person representing this interest must have sufficient authority to commit resources and make binding decisions on behalf of the organization.
The Business Interest works alongside User Interest (focusing on what the project will deliver) and Supplier Interest (focusing on how the project will deliver) to create a balanced governance structure that considers all essential perspectives for successful project delivery.
Business Interest in PRINCE2 7th Edition - Complete Guide
What is Business Interest?
Business Interest is a fundamental concept within the Organizing Practice of PRINCE2 7th Edition. It represents the perspective of those who are accountable for ensuring the project delivers value for money and achieves the expected business benefits. The business interest ensures that the project remains viable, aligned with organizational strategy, and continues to represent a worthwhile investment throughout its lifecycle.
Why is Business Interest Important?
Business Interest is crucial because:
• It ensures the project maintains a clear connection to organizational objectives • It provides oversight to guarantee the investment remains justified • It holds accountability for defining and realizing benefits • It ensures resources are being used effectively • It makes certain that the Business Case remains valid throughout the project • It provides the funding and commits organizational resources to the project
How Business Interest Works in Practice
The business interest is typically represented by the Executive role within the Project Board. The Executive is the single point of accountability for the project and is responsible for:
• Owning the Business Case and ensuring its development and maintenance • Making key decisions on project viability • Securing funding and resources • Ensuring the project delivers value for money • Being accountable for benefit realization • Providing overall direction and leadership to the project
The Executive may be supported by Business Assurance, which monitors business aspects on behalf of the Executive. This includes verifying that the Business Case remains valid and that the project continues to be worthwhile.
The Three Interests in PRINCE2
Business Interest works alongside two other perspectives on the Project Board:
• User Interest - represented by Senior User(s), focusing on user needs and benefits • Supplier Interest - represented by Senior Supplier(s), focusing on technical delivery
All three interests must be represented for effective project governance.
Key Responsibilities of Business Interest
• Ensuring the project aligns with corporate or programme strategy • Owning and championing the Business Case • Authorizing major decisions and stage boundaries • Resolving escalated issues that affect business viability • Ensuring benefits management is planned and executed • Providing visible support and commitment to the project
Exam Tips: Answering Questions on Business Interest
1. Remember the Executive is the key role: When questions ask about business interest, think about the Executive role and their unique responsibilities.
2. Focus on accountability, not doing: The Executive is accountable for the Business Case but may delegate its preparation to others.
3. Single point of accountability: There can only be one Executive per project - this is a common exam question topic.
4. Business Case ownership: Any question linking business interest to a document should point to the Business Case.
5. Distinguish from other interests: User interest focuses on user needs and benefits realization; supplier interest focuses on design and delivery. Business interest focuses on investment justification and overall value.
6. Value for money: This phrase is strongly associated with business interest - look for it in answer options.
7. Corporate alignment: Business interest ensures the project stays aligned with organizational strategy and priorities.
8. Watch for scenarios: If a scenario describes someone concerned about whether the project is still worthwhile or represents good value, this indicates business interest.
9. Business Assurance: Remember this supports the Executive in monitoring business aspects - it is a function, not necessarily a separate person.
10. Funding authority: The business interest secures and commits the budget - questions about project funding often relate to this interest.