A Couple of PRINCE2 Business Case Traps

First, the Business Case is more than a Net Present Value (NPV) or Payback calculation. Some think a Business Case is a calculated number, but that is only a minor piece of the definition.

The PRINCE2 Business Case captures the reasoning for initiating a project. The Business Cases is created to help decision-makers ensure that the proposed initiative will have value and relative priority compared to alternative initiatives based on the objectives and expected benefits laid out in the business case.

There is a couple of business case traps you should avoid:

• Don't slow down Starting Up a Project because your trying to make the Outline Business Case be more than an outline. Some have the ambition to build the final, everlasting business case even before the project has initiated. This is a waste of time and is likely an obstacle to making the PRINCE2 processes flow naturally in the project.  

• Don't make the Business Case static. It should be a living document. According to PRINCE2, you should review the Business Case at every stage boundary. This is easy to forget or just ignore. Reviewing it, and addressing it in the dialogue between Project Manager and the Project Board, is helping you to keep the business needs in mind.

You can find a PRINCE2 Business Case template on the PRINCE2 Templates page.
Read more about the Business Case Theme

 

Image courtesy of  hywards at FreeDigitalPhotos.net
Copyright © PRINCE2How2 - How to implement PRINCE2