Overview
Now the project has been planned the outline Business Case from the Project Brief can be refined in preparation for inclusion in the Project Initiation Document (PID). During this sub-process it is also expected that the Risk Log (created in SU4 Preparing a Project Brief) will be further added to and refined. With increased knowledge of the Risk and Business Case issues could arise prompting a revision of the Project Plan (resulting in a re-iteration of IP2 Plan a Project).
Some key points to cover include identification of how each benefit in the Business Case will be measured for later inclusion in the Post Project Review. Quantify the business benefits where possible, including the financial case, where appropriate. Ensure to include operational and maintenance costs.
Use risk analysis to calculate risk impacts on the project, their contingency plans and the cause of action to reduce that risk.
Responsibilities for refining the Business Case and Risks lies with the Project Manager.
Method links
Tips
- The Project Board may request a contingency plan and allocate a contingency budget should a risk be threatening enough.
- Ensure each Business benefit can be measured.
- Begin assigning owners to each risk.
- Be sure to check that the cost of avoiding a risk is not greater than the cost of the risk should it occur.
Notes
This process's purpose is primarily to create a Business Case that can be used in the Project Initiation Document (PID).
Case studies and examples
Related links
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