The Business Case, Plan And Project Plan

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The business case, plan and project plan sounds similar to some and interchangeably used wherever possible. The research paper clarifies the definitions of the business case, plan and project plan and describe how these are helpful in project design and analysis. The research paper also discusses how these three key functions work with each other, depend on each other and what are the differences between them. To give an idea to a reader about the business case, there will be two business case scenarios are considered in a particular business. To better understand the business cases, the background information of the business has been provided. Upon choosing two business cases, one business cases addresses one issue and solution for that. The …show more content…
As defined by Schmidt, M. (2009), the business case looks into a problem or opportunity in a business and provide a strong argument to capture some attention or convince the decision maker to pursue the business action. The business case justifies the action required in the business with business cases. The further study on business cases does the cost-benefit analysis for the proposed solution. The primary element in the business case is analysis scenario that can provide the best and worst case scenario of the result. The business case analysis also specifies the cause and effect relationships with in the functions and project. The effective business case will discuss the non-investment process loses, along with the investment benefits. The business case will comply with the company’s goals and strategy. The more details of the business case were explained by Brannock, J. (2012). The structure of the business case consists of the following elements in it such as executive summary, project objectives, project alternatives, implementation plan and …show more content…
The primary step in project management is to explain the stakeholders the project processes and functionality explained by Guide, A. (2001).In the planning phase there will be three approved beginning points such as scope, schedule and cost baselines. The baselines are used to measure the performance of the entire project against to track themselves if there are on the timeline. The responsibilities of key stakeholders such as project manager, project sponsor, project team, customers, and business experts will be defined as the part of the project plan. The kickoff meeting enables the stakeholders to gather together and discuss the developing process of the project. The crucial part in project plan is developing a scope statement, which describes the outcome of the project. The project deliverables are breakdown into many is known as work break down structure. As a part of business plan identify the cost baselines and schedule them accordingly. Developing the staff plan plays another key role as the skilled employees can place in the right level of the management. Analyze the project risks and quality can strengthen the output of the project. The success of the business plan depends on the effective communication in the project

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