Lesson 07: Business Justification
Quiz
- What is business justification?
- Is this an excellent example of a business justification for a project? A storage company invests € 84,000 on solar panels and has a 12% ROI for ten years.
- What does “continued” mean in the principle: Ensure continued business justification?
- Why does a project wish to track benefits?
- In which document is the business justification first added in a PRINCE2 project?
- When does the project board check the project’s business justification?
- Which document (management product) does PRINCE2 use to track benefits?
- It is the reason to do something. It answers the “Why” question for the project.
- Yes, this project has business justification. The project will deliver €248,467 in 10 years.
- “Continued” means continuously monitoring this justification during the project.
- Benefits demonstrate the actual value of the project. Whether the project was done within time and cost is not the way to measure a project. A better question is: what the long-term benefits of the investment are.
- The outline business case is created during the pre-project process, and the project mandate may already contain some business justification information.
- The project board checks the business justification at each decision point: End of pre-project, end of initiation, end of each stage, and at the end of the project.
- Benefits Management Approach
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