Business Case In Project Management

The apm body of knowledge 7th edition is a foundational resource providing the concepts functions and activities that make up professional project management it reflects the developing profession recognising project based working at all levels and across all sectors.

Business case in project management. A project business case sets out why you should start your project. The ability to manage across many projects and portfolios is critical to project success. Creating a business case for project management is similar to creating a business case for anything with one subtle difference.

By investing in a ppm solution you will see benefits in the areas of portfolio management project management team collaboration and organizational project management. Mainly because people don t have the in depth knowledge or they find it a waste of time to see it as another means of pushing the project into the right direction. It is a vital part of your project governance.

Apm body of knowledge 7th edition. The business case is a type of document that describes information of a particular business to determine if the project is worth the investment. Leadership management and personal development training.

Accordingly the project sponsor and project board should review and update the business case at key stages to check that the project remains viable and the reasons for doing it are still valid. This business case is at the heart of any project and outlines the justification for undertaking the project. A business case serves a reference for projects and programs wherein it is represented by a structure that is made of resources costs.

There are four steps necessary to write a business case which are as follows. It gives an analysis of the benefits and costs of making a change to the way things are done. A key part of any project is the project business case.

The business case is the key document for a project manager it is both the justification for their activities and a benchmark by which the project benefits will be measured. Your project business case is therefore a tool for senior people to make an informed decision. Creating a business case for a factory or real estate investment requires an understanding of how physical assets impact cash flow.