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Written by Mike – Tue 15 Jan 2013
The Business Case in PRINCE2® is the document against which all decisions are ultimately made. It provides the decision makers (Project Board) in the project with a clear picture of what the project is set to deliver, how much it is all going to cost, how long it will take, and an analysis of when the expected benefits will come on stream.
So why is this any different to any other project that we already undertake? For example at home; if we are considering enlarging our living accommodation we, first of all, have to gain a common understanding of why we need to do it ... to have good REASONS.
Once that is agreed and decided there are several options that may be available to us...
Each of these OPTIONS would, of course, have different costs and timescales attached to them... but we would consider them all, and decide which of them could be discounted and capture why that decision was made. We may be left with a couple of alternatives which need further investigation, but eventually, we come to a decision on the way forward... and that is our chosen OPTION.
Learn more about the Business Case in PRINCE2 on our PRINCE2 Foundation and PRINCE2 Practitioner Training Courses. One of our most popular training methods is applying PRINCE2 to everyday examples to help you understand them and pass your exam!
In a project such as the above, the costing and timescale would almost certainly have been supplied by a builder and their associated trades, and all of these costs added together will form the basis of the COST heading in our Business Case. Equally the overall timescale from their various trades will equate to the TIMESCALE heading in our Business case. It should be noted here that the builder (and other trades) are all in business to make a profit, and therefore they will all have their own Business Case... our focus is on OUR Business Case.