Business Plan Wikipedia

Business Plan Wikipedia-15
One final point to remember here is that the Executive has the responsibility to all project stakeholders for the project to remain desirable, viable and achievable at all times.The approach to confirm the benefits is in 4 steps: As you can clearly see, these steps are all about ensuring that benefits are correctly measured.The objective here is to explain what these terms mean and, also, how they differ from one another.

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Nevertheless, it should be kept in mind that other points of verification exist besides those mentioned above. Maintain the Business Case refers to keeping the Business Case up to date to reflect what is happening in the project.

It may be done when assessing Risks or Issues, or at the end of a stage.

Output Question: What is the product that will be delivered by the project?

The Business Case is developed in the Initiation Stage and maintained during the project.

The Business Case gathers the information to allow the organisation management judge if a project is worthwhile to invest in and they can also compare with other requirements and ideas.

The PRINCE2 Manual actually says “The Business Case gathers the information to allow the management judge if a project is desirable, viable and achievable”.

For example, some of the typical changes can be increase or reduction of costs, and new information on a risk.

The Business Case is also referred to as a living document, meaning it is continually updated during the project to reflect reality.

The Business Case is first verified by the Project Board so that the project can start.

It is then verified at key decision points during the project, such as at the end of each stage. They are: This is the same as Create the Business Case.

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