Abstract
The development of benefits criteria is focused around the business case. This is the key opportunity to establish why the project should go ahead, following a development cycle as the project evolves from idea to formal proposal. At key points in this cycle (benefits identification, benefits specification and business impact analysis) there are specific challenges to the choice of project and the deliverables within it. Any project is unlikely to be the only one that the business is considering, and that there is, in effect, a competition for funds. The business case is considered a sales exercise by project managers to persuade senior management to buy a product. Business cases fail to get approved when the business need hasn't been understood, the business's requirement for return hasn't been met, or it has been pitched to the wrong people. Therefore, a business case is more formal than just a sales pitch. It is a contract between the project and the business. In return for a given amount of time and money, a promise is made to generate a given benefit for the business.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Project Benefits Management: Linking projects to the Business
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
