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PRINCE2 (TM) Business Case by Mind Map: PRINCE2 (TM) Business
Case
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PRINCE2 (TM) Business Case

Expected Dis-benefits

Describing the quality techniques and standards to be applied, and the responsibilities for achieving the required quality levels

[Document any outcomes perceived as negative by one or more stakeholders. For example, a decision to merge two elements of an organization onto a new site may have benefits (e.g. better joint working) and dis-benefits (e.g. drop in productivity during the merger). Log dis-benefits value them and incorporate into the investment appraisal]

Costs

A summary of the project costs (taken from the Project Plan), the ongoing operations and maintenance costs and their funding arrangements

[Summarise the project costs (taken from the Project Plan), the ongoing operations and maintenance costs and their funding arrangements]

Document information

Project Name

[name]

Date

[date]

Release

Draft/Final

Author

[author]

Owner

[owner]

Client

[client]

Document Number

[number]

Revision, Approvals & Distribution

Revision History, Revision # [....], Revision Date, [date], Previous Revision Date, [date], Summary of Changes, [change], Changes Marked, [change mark], Revision # [....], Revision Date, [date], Previous Revision Date, [date], Summary of Changes, [change], Changes Marked, [change mark], Revision # [....], Revision Date, [date], Previous Revision Date, [date], Summary of Changes, [change], Changes Marked, [change mark], Date of next revision:, [....]

Approvals, Approval # [....], Name, [name], Signature, [signature], Title, [title], Date of Issue, [date], Version, [version], Approval # [....], Name, [name], Signature, [signature], Title, [title], Date of Issue, [date], Version, [version], Approval # [....], Name, [name], Signature, [signature], Title, [title], Date of Issue, [date], Version, [version]

Distribution, Distribution # [....], Name, [name], Title, [title], Date of issue, [date], Version, [version], Distribution # [....], Name, [name], Title, [title], Date of issue, [date], Version, [version]

Overview

Purpose

A Business Case is used to document the justification for the undertaking of a project, based on the estimated costs (of development, implementation and incremental ongoing operations and maintenance costs) against the anticipated benefits to be gained and offset by any associated risks.

The outline Business Case is developed in the Starting up a Project process and refined by the Initiating a Project process. The Directing a Project process covers the approval and re-affirmation of the Business Case.

The Business Case is used by the Controlling a Stage process when assessing impacts of issues and risks. It is reviewed and updated at the end of each management stage by the Managing a Stage Boundary process, and at the end of the project by the Closing a Project process.

Contents

The Business Case should cover the following topics.

Executive Summary

Reasons

Business Options

Expected Benefits

Expected Dis-benefits

Timescale

Costs

Investment Appraisal

Major Risks

Advice

The Business Case is derived from the: Project mandate and Project Brief – reasons; Project Plan - costs and timescales; The Senior User(s) - expected benefits; The Executive - value for money; Risk Register and Issue Register.

The Business Case can take a number of formats, including: Document, spreadsheet or presentation slides; Entry in a project management tool.

The following quality criteria should be observed:, The reasons for the project must be consistent with the corporate or programme strategy, The Project Plan and Business Case must be aligned, The benefits should be clearly identified and justified, It should be clear how the benefits will be realized, It should be clear what will define a successful outcome, It should be clear what the preferred business option is, and why, Where external procurement is required, it should be clear what the preferred sourcing option is, and why, It should be clear how any necessary funding will be obtained, The Business Case includes non-financial, as well as financial, criteria, The Business Case includes operations and maintenance costs and risks, as well as project costs and risks, The Business Case conforms to organizational accounting standards (e.g. break-even analysis and cash flow conventions), The major risks faced by the project are explicitly stated, together with any proposed responses.

Executive Summary

Highlight the key points in the Business Case, which should include important benefits and the return on investment (ROI).

[Highlight the key points in the Business Case, include important benefits and the return on investment (ROI)]

[...]

Reasons

Defines the reasons for undertaking the project and explains how the project will enable the achievement of corporate strategies and objectives

[Define the choice of solution that will be used in the project to deliver the business option selected from the Business Case. Take into consideration the operational environment into which the solution must fit]

Business Options

Analysis and reasoned recommendation for the base business options of: do nothing, do the minimal or do something

[Provide analysis and reasoned recommendation for the base business options of: do nothing, do the minimal or do something]

Expected Benefits

The benefits that the project will deliver expressed in measurable terms against the situation as it exists prior to the project. Benefits should be both qualitative and quantitative. They should be aligned to corporate or programme benefits. Tolerances should be set for each benefit and for the aggregated benefit. Any benefits realization requirements should be stated

[Describe the benefits that the project will deliver in measurable terms against the situation as it exists prior to the project. Benefits should be qualitative and quantitative and aligned to corporate or programme benefits. Tolerances should be set for each benefit and for the aggregated benefit. Include any benefits realization requirements]

Timescale

The period over which the project will run (summary of the Project Plan) and the period over which the benefits will be realized. This information is subsequently used to help timing decisions when planning (Project Plan, Stage Plan and Benefits Review Plan)

[Document the period over which the project will run (summary of the Project Plan) and the period over which the benefits will be realized.]

How to use this template

How to share this template with your team

Send an email, 1. Click Share this map, 2. Select Invite People, 3. Write a message, 4. Click Invite

Send a link, 1. Click Share this map, 2. Tick Link to share, 3. Copy the link to share it

Export, 1. Click down arrow, bottom right, 2. Select the export option you want

How to complete this template

Complete the sections in square brackets, [....]

Read these sections for help on this template, Purpose, Advice

Navigate using the links in Contents, Contents

Attribution

Copyright © AXELOS Limited 2009. All rights reserved. Material is reproduced with the permission of AXELOS

Get this template here

Investment Appraisal

Compares the aggregated benefits and dis-benefits to the project costs (extracted from the Project Plan) and ongoing incremental operations and maintenance costs. The analysis may use techniques such as cash flow statement, ROI, net present value, internal rate of return and payback period. The objective is to be able to define the value of a project as an investment. The investment appraisal should address how the project will be funded

[Compare the aggregated benefits and dis-benefits to the project costs and ongoing incremental operations and maintenance costs. The objective is to be able to define the value of a project as an investment and address how the project will be funded]

Major Risks

Gives a summary of the key risks associated with the project together with the likely impact and plans should they occur

[Summarize the key risks associated with the project together with the likely impact and plans should they occur]