All organisations have limited resources, which means that a decision to proceed with a project may sometimes preclude another project from proceeding and/or temporarily impact business-as-usual productivity. So project priorities need to be determined. Among other things a financial evaluation of prospective projects is needed. Some projects promise a better financial return than other projects.
Project Business Case
Historically, us project managers have not been too concerned about the reason for a project, but have focused on producing the required deliverables (outputs) as per specifications, on time and within budget. This focus is understandable, since achieving these objectives is usually how our project management performance has been assessed. And while these objectives are important, ultimate project success occurs when the project outputs achieve anticipated benefits and sometimes other unanticipated benefits.
Contemporary thinking is that us project managers now need to be conversant with … Read More »