Business Case Theme

The Business Case Theme is central to PRINCE2, providing a framework to assess projects' desirability, viability, and achievability. It's the primary decision-making tool for initiating, continuing, or stopping projects based on their value justification. The Business Case develops progressively. It starts as an outline in the Starting Up a Project process, transforms into a detailed document during Initiating a Project, and undergoes continuous review throughout the project lifecycle to ensure ongoing viability. PRINCE2 defines three types of Business Cases: Strategic, Program, and Project. The Project Business Case must align with higher-level justifications (if present) and clearly demonstrate why the project should proceed. Vital components include: Executive Summary, Reasons (why the project is needed), Business Options (considered alternatives), Expected Benefits (measurable improvements), Expected Dis-benefits (negative outcomes), Timescale (project duration), Costs (all financial investments required), Investment Appraisal (financial analysis methods), and Major Risks (key threats and opportunities). Responsibility for the Business Case rests primarily with the Executive, though the Project Manager creates and maintains the document, ensuring it contains accurate information. The Business Case influences many PRINCE2 processes including Starting Up a Project (creating the outline), Initiating a Project (developing the full document), Directing a Project (making authorization decisions), Controlling a Stage (assessing continued viability), and Managing Product Delivery (understanding business priorities). This theme embodies the continued business justification principle, ensuring projects remain economically viable throughout their lifecycle. It also supports other principles like defined roles and responsibilities, focus on products, and managing by stages.

The Business Case Theme is central to PRINCE2, providing a framework to assess projects' desirability, viability, and achievability. It's the primary decision-making tool for initiating, continuing, …

Concepts covered: Benefits Review Plan, Business Case Content, Roles and Responsibilities in the Business Case, Types of Business Justification, Value for Money Assessment, Output, Outcome and Benefits, Business Case Development Path, Benefits Management Approach, Business Case Levels