Business Case Analysis

Business Case Analysis

18 December 2010

It is always necessary to conduct a business case analysis before proceeding with a project by a third party other than the team that composed it. This will allow for a new and different perceptive on what it contains to be revealed.  At times some modifications might be necessary with the end result being an improved proposal.

When a project manager makes their final submission of their document to the stakeholders, then the real business case analysis can commence. Before this is done the document and all the data should have goes thru a thorough checking and double checking for accuracy. If a mistake is found the entire project could be at stake.

The stake holders conduct their business case analysis in their areas of expertise. Not every stakeholder or member of upper management knows every aspect of how a project should be run. In some cases they review the sections they know well, like the production plant, financial sector or even the target audience and how to best support the product after it is produced.

To make sure the business case analysis is done to the level needed, many of the stakeholders will pass off the proposal to members of their team for further investigation. Just as before it was submitted, a different perspective that could shed some light on the weak points of the proposal would be welcome. This will allow for the best possible results from the project if it is approved.

Not every opinion resulting from a business case analysis will be accepted by the stakeholders as a group. What will occur is that a final assessment will be made on the project on whether it should proceed or be sent back for refinement.

If there is a problem with a project, the best place to catch it is in a business case analysis. This is due to the fact that less time and money will have been spent on it since it is in the early stages of its development.