28.12.2020Project Management: PRINCE2 Business Case Theme
This Month we start to take a closer look at the Themes that underpin PRINCE2 Project Management. Our first Theme is the Business Case, or the Why of the Project.
This Theme addresses how the idea for a project is developed into a viable investment proposition for the Organisation and how the Project Management maintains the focus on the Organisations objectives throughout its lifecycle. The Business Case drives all decision making, making sure that the Project remains justifed and that business objectives and benefits being sought, are realised.
In PRINCE2, the Business Case is developed at the beginning of a Project and reviewed throughout the lifecycle. As will all the elements of PRINCE2 Project, the Business Case Theme is aligned with the key Principle of 'Continued Business Justification'
The Business Case presents the optimum mix of information used to judge whether the project is (and remains) desirable, viable and achievable and therefore worthwhile investing in.
Continued Business Justification
A benefit of utilising a PRINCE2 approach to Project Management, means that there is always a valid reason for the continuation of the Project. This is called 'Continued Business Justifcation' and its one of the seven Principles of PRINCE2. If the Business Case becomes invalid during the Project, the Project should be closed.
The Benefits Management Approach
Whilst Continued Business Justifcation should be kept in the forefront of the Project Managements mind, agreeing the Benefits Management Approach, is vital to assessing the benefits of a Project.
At AEON, we work closely with our Clients to capture their expected benefits. In collaboration, the benefits are specficed as well as the checking those benefits have been realised at the end of each stage.