You Need Business Cases
Far too many times project leaders accept a project without knowing the entire overall picture. Going into a project this way only leads to complications, roadblocks, and eventual failure as the project falls apart at the seams. It does not have to end this way. Your project can enter the ratio of projects that succeed and meet everyone’s expectations.
Business cases are an outline of the project, providing a manager with the reasons a project exists, and guidelines for the project to reach as well as project boundaries. Business cases remove the guesswork, and presents a system and structure for moving the project forward, staying within budget and time constraints.
Every good business case template contains components that makes the project clear and concise. The title page and table of contents is the first image a reader sees. The readability of the title, descriptive in itself, and the entire table of contents lends an air of professionalism. Readers should be able to locate a section of the business case with ease, as the table of contents lists the major descriptive sections.
The project summary is the section that hits home the important project areas, why the project is a needed requirement and how it will benefit the users, customers, and business as a whole. Project summaries are usually two pages in length.
The mission statement is exactly as it sounds. An overall statement of the expected project manager’s goals and mileposts. What the will do, who it will be accomplished for, and the reasons behind the motivations. This is the driving force of the project manager.
The project objectives are next, and are a concise statement containing the following qualities, otherwise known as SMART - Specific, Measurable, Achievable, Realistic, and Timely.
Next are performance measures, which appraise the general project success. These measures reflect the methods the project will attain the business case objectives. Knowing how a project will meet these objectives are a missing component in many projects. Guessing and trying to solve objectives in the middle of a project is a stepping stone to failure. How these objectives will be accomplished before the start is critical.
Needs assessments is where problems are determined, reasons why the problem required correction, and how the changes the project will deliver brings benefits from alleviating the problems. This is the area that can move the project to origination, or make a decision not to begin the project.
A technical analysis presents data supporting the determination to put the project into motion, as well as giving reasons why the project corresponds to the best and effective answer available.
The project work plan is where the conditions of work, the tasks and responsibilities to be completed, how long it will take, the mileposts of the project, and the list of individuals who will manage the project. This is also the section where contracts will be listed.
The financial plan explains how allocated funds will be spent, the areas of spending, and the credit of returned funds. Reasons of project funding is also located in this section.
As an overall business plan, the business case is a document depicting the thought process of management, a game plan explaining the effort and discoveries, and demonstrating to stakeholders and senior management the project has capable professionals behind it. The confidence it brings speaks of managers who are in control and have a handle on matters. This comes from a quality training that can be found at K Alliance. Managers who have obtained PMP training online are well versed in the many factors that have an influence on a project. They are the project managers who consistently deliver successful project that have a very long life span and bring satisfaction to clients, customers, and stakeholders.
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