Management product: Project brief
The purpose of the project brief is to provide a full and firm foundation for the initiation of the project.
Project definition: explains what the project should achieve and should include:
- the background
- project objectives
- desired outcomes
- project scope and exclusions
- constraints and assumptions
- project tolerances
- users and any other known interested parties.
Outline business case: reasons why the project is needed and the business option that is selected
Project product description: includes user quality expectations and acceptance criteria
Project approach: defines the approach to deliver the selected business option selected from the outline business case
Project management team structure and role descriptions: who will work on the project, in what role, and with what scheme of delegation and reporting
References: for any associated documents or products.
Management product: Business case
The purpose of the business case is to document the business justification for undertaking a project, based on the estimated costs against the expected benefits to be gained and offset by any associated risks. It should outline how and when the expected benefits can be measured.
Executive summary: highlights the key points in the business case, which should include important benefits and the return on investment
Reasons: defines the reasons for undertaking the project and explains how the project will enable the achievement of business objectives
Business options: analysis and reasoned recommendation for the options including any assumptions upon which the options are based
Expected benefits and dis-benefits: benefits and dis-benefits expressed in measurable terms against the situation as it exists prior to the project. The measures include benefits tolerances
Sustainability targets: specific targets relating to sustainability that the project must meet including sustainability tolerances
Time: the period over which the project will run and the period over which the benefits will be realized
Costs: a summary of the project costs, the ongoing operations and maintenance costs, and their funding arrangements
Investment appraisal: compares the aggregated benefits and dis-benefits with the project costs and ongoing incremental operations and maintenance costs in order to define the value of a project as an investment
Major risks: a summary of the key threats and opportunities associated with the project, together with their likely impact and responses
References: for any associated documents or products.
Management product: Benefits management approach
The benefits management approach is part of the project initiation documentation.
The purpose of the benefits management approach is to define the benefits management actions and benefits reviews that will be established to ensure that the project’s outcomes are achieved and to confirm that the project’s benefits are realized.
Scope: describes what benefits are to be managed and measured
Benefits realization procedures: describes what management actions are required to ensure that the project’s outcomes are achieved (This should include arrangements for benefits realization activities to be undertaken by the business layer after the project has closed.
For example, preparing and handing over a benefits realization plan.)
Benefits measurement: describes how to measure achievement of expected benefits, when they can be measured, and the baseline measures from which the improvements will be calculated
Benefits tolerance guidance: Provides additional guidance to the benefits tolerance levels defined for the project in the business case
Product performance: describes how the performance of the project product will be reviewed
Responsibilities: defines the responsibilities for business case activities, including who is accountable for the expected benefits
Resources: for benefit management activities, for example, to undertake studies
Supporting tools and techniques: for benefit management activities, for example, use of a simulator
Standards: any standards which apply to benefit measures
References: for any associated documents or products
Management product: Sustainability management approach
The sustainability management approach is part of the project initiation documentation.
The purpose of the sustainability management approach is to define the actions, reviews, and controls that will be established to ensure that sustainability performance targets for the project are achieved.
Scope: describing what sustainability targets are to be managed and measured
Measurement: describes how to measure achievement of sustainability targets, when they can be measured, and the baseline measures from which targets will be calculated
Responsibilities: defines responsibilities for sustainability activities, including who is accountable for measuring the achievement of the sustainability targets
Resources: for the sustainability management activities, for example, to undertake studies
Supporting tools and techniques: for sustainability management activities
Standards: any standards which apply to sustainability management
References: for any associated documents or products.
Business Case Practice Key relationships with Principles
The business case practice contributes to the adherence to PRINCE2 principles across the project lifecycle.
Principle: Ensure continued business justification
Achieved by: Creating and maintaining a business case for the project to assess whether it is (and remains) desirable, viable, and achievable
Resulting in: Confidence that the investment is worthwhile
Principle: Learn from experience
Achieved by: using lessons to inform business justification
Resulting in: confidence that the business case is developed from previous experiences
Principle: Defined roles, responsibilities, and relationships
Achieved by: clarifying the responsibilities for developing and maintaining the business case and benefits management throughout the project
Resulting in: clear understanding of expectations for business case and benefits management
Principle: Manage by stages
Achieved by: ensuring decisions made at stage boundaries are checked for business justification
Resulting in: confidence that the investment remains justified through the project
Principle: Manage by exception
Achieved by: Manage by exception measuring the impact of issues and risks to the business case and escalating when these are forecast to exceed tolerances
Resulting in: clear understanding of potential impacts on the business case to foster effective decision-making
Principle: Focus on products
Achieved by: ensuring that the products produced can lead to the required outcomes and benefits
Resulting in: project benefits that are achievabl
Principle: Tailor to suit the project
Achieved by: ensuring that the formality and level of control for business case development, approval, and review are appropriate for the type, size, and complexity of the project
Resulting in: governance of the business case that is fit for purpose
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