Business Case - Revision history

Tkokotas at 00:29, 6 November 2018

2018-11-06T00:29:42Z

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	''Developed by Casper Stroem''		''Developed by Casper Stroem''


	{{#ev:youtube\|https://youtu.be/bDAsAbMMep0\|350\|right\|Video 1: procurementacademy: Business Case - Definitions<ref name="youtube"/>\|frame}}		{{#ev:youtube\|https://youtu.be/bDAsAbMMep0\|350\|right\|Video 1: procurementacademy: Business Case - Definitions<ref name="youtube"/>\|frame}}

Tkokotas at 00:29, 6 November 2018

2018-11-06T00:29:27Z

← Older revision		Revision as of 00:29, 6 November 2018
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			''Developed by Casper Stroem''


	{{#ev:youtube\|https://youtu.be/bDAsAbMMep0\|350\|right\|Video 1: procurementacademy: Business Case - Definitions<ref name="youtube"/>\|frame}}		{{#ev:youtube\|https://youtu.be/bDAsAbMMep0\|350\|right\|Video 1: procurementacademy: Business Case - Definitions<ref name="youtube"/>\|frame}}
	==Abstract==		==Abstract==
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	'''Annotation:''' Further reading from the conceptbox describing Risk analysis and Risk Management in practice.		'''Annotation:''' Further reading from the conceptbox describing Risk analysis and Risk Management in practice.

			[[Categories:Purpose]][[Categories:Vision]]

S172043: /* Cost */

2018-02-26T22:23:03Z

Cost

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	==Cost==		==Cost==
	According to Murray: The Business Case should summarise the costs derived from the project plan together with the assumptions upon which they are based. The cost should also include details of the ongoing operations and maintenance costs and their funding arrangements. <ref name="Murray"/>		According to Murray: The Business Case should summarise the costs derived from the project plan together with the assumptions upon which they are based. The cost should also include details of the ongoing operations and maintenance costs and their funding arrangements. <ref name="Murray"/>
			Within the topic of cost, it will be suitable to include a high-level budget, stating but not limited to; Capital investment required, Cost of the salary for the staff working on the project, other relevant costs such as server fees used in the example video from procurement academy. <ref name="youtube"/>

	==Major Risks==		==Major Risks==

S172043: /* Abstract */

2018-02-26T22:17:17Z

Abstract

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	The Business case is defined by Murray,(2009)<ref name="Murray"/> as a document that presents the optimum mix of information used to judge whether a project is desirable, viable and achievable, and therefore worthwhile investing in. A similar definition for a Business Case is made by Maylor (2010) <ref name="Maylor"/> ‘. . . justification for undertaking a project, in terms of evaluating the benefits, cost, and risk of alternative options and rationale for the preferred solution. Its purpose is to obtain management commitment and approval for investment in the project. The business case is owned by the sponsor.’		The Business case is defined by Murray,(2009)<ref name="Murray"/> as a document that presents the optimum mix of information used to judge whether a project is desirable, viable and achievable, and therefore worthwhile investing in. A similar definition for a Business Case is made by Maylor (2010) <ref name="Maylor"/> ‘. . . justification for undertaking a project, in terms of evaluating the benefits, cost, and risk of alternative options and rationale for the preferred solution. Its purpose is to obtain management commitment and approval for investment in the project. The business case is owned by the sponsor.’

	The main limitations of the Business Case lie within the people in the project team. In order for the Business Case to be utilized to its greatest potential, the people within the Project team has to use it as the main guidance document throughout the project and adjust it when required.		The main limitations of the Business Case lie within the people in the project team. In order for the Business Case to be utilized to its greatest potential, the people within the Project team has to use it as the main guidance document throughout the project and adjust it when required.

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2018-02-26T22:17:03Z

Abstract

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	The Business case is defined by Murray,(2009)<ref name="Murray"/> as a document that presents the optimum mix of information used to judge whether a project is desirable, viable and achievable, and therefore worthwhile investing in. A similar definition for a Business Case is made by Maylor (2010) <ref name="Maylor"/> ‘. . . justification for undertaking a project, in terms of evaluating the benefits, cost, and risk of alternative options and rationale for the preferred solution. Its purpose is to obtain management commitment and approval for investment in the project. The business case is owned by the sponsor.’		The Business case is defined by Murray,(2009)<ref name="Murray"/> as a document that presents the optimum mix of information used to judge whether a project is desirable, viable and achievable, and therefore worthwhile investing in. A similar definition for a Business Case is made by Maylor (2010) <ref name="Maylor"/> ‘. . . justification for undertaking a project, in terms of evaluating the benefits, cost, and risk of alternative options and rationale for the preferred solution. Its purpose is to obtain management commitment and approval for investment in the project. The business case is owned by the sponsor.’
			The main limitations of the Business Case lie within the people in the project team. In order for the Business Case to be utilized to its greatest potential, the people within the Project team has to use it as the main guidance document throughout the project and adjust it when required.

	=What is a Business Case=		=What is a Business Case=

S172043: /* Defining a Business Case */

2018-02-26T22:15:50Z

Defining a Business Case

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	==Reasons==		==Reasons==
	The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the ~~organisation~~ to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead. Other relevant information to the Reasons		The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the organization to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead. Other relevant information to the Reasons will be things such as organizational impact describing the change within the tools, processes, and other relevant areas that the proposed project will incur. Addressing the Technology migration in this area is relevant, detailing a high-level overview of how the new data and tools will be implemented and the transfer of data from the legacy system. <ref name="Template"/>

	==Business Options==		==Business Options==

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Reasons

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	==Reasons==		==Reasons==
	The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the organisation to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead. Other relevant information to the Reasons		The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the organisation to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead. Other relevant information to the Reasons

	==Business Options==		==Business Options==

S172043: /* Defining a Business Case */

2018-02-26T22:02:33Z

Defining a Business Case

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	==Reasons==		==Reasons==
	The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the organisation to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead.		The Reason or Reasons for a Business case is also known as the problem statement for the project. It describes why the project is being considered and the background that led the organisation to consider the project in question. The Reasons can change the project due to change in circumstances so the project is not needed anymore or another option will be considered instead. Other relevant information to the Reasons

	==Business Options==		==Business Options==

S172043: /* Defining a Business Case */

2018-02-26T21:57:41Z

Defining a Business Case

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	When defining a Business Case the aim is to address all of the six areas shown in Figure 1.		When defining a Business Case the aim is to address all of the six areas shown in Figure 1.
	The six-star constraint is an expansion of the classical triple constraint.<ref name="Beyond"/>		The six-star constraint is an expansion of the classical triple constraint.<ref name="Beyond"/>
			Maylor p. 184(2010) remains slightly cautios of the definition stated in the abstract for the article.
			The basic definition is useful, but assumes that there are always definable benefits, costs, that risks can be assessed, that there is a well-understood problem that needs 'solution' and that there a defined sponsor.<ref name="Maylor"/>

	==Executive Summary==		==Executive Summary==

S172043: /* References Credibility */

2018-02-26T21:50:26Z

References Credibility

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	=References Credibility=		=References Credibility=

	In general, using web sources a critical mindset must be used when citing these. Anyone can make a website or create a youtube video, therefore, the web-based sources ~~was~~ kept to a minimum.		In general, using web sources a critical mindset must be used when citing these. Anyone can make a website or create a youtube video, therefore, the web-based sources were kept to a minimum.

	The video referenced was made by Procurement Academy. This is a company who deal with competencies training of staff and creates their own content for the training. It was therefore deemed trustworthy by the author and to be used as a source for the article.		The video referenced was made by Procurement Academy. This is a company who deal with competencies training of staff and creates their own content for the training. It was therefore deemed trustworthy by the author and to be used as a source for the article.

	'Herman, B. & Siegelaub, J. M. (2009). Is this really worth the effort? The need for a business case.' was used multiple times ~~through~~ the article as a ~~sources~~. The article was published in 2009 on the website for the Project Management Institute, furthermore the article uses standard reference material.		'Herman, B. & Siegelaub, J. M. (2009). Is this really worth the effort? The need for a business case.' was used multiple times in the article as a source. The article was published in 2009 on the website for the Project Management Institute, furthermore, the article uses standard reference material.

			NPV Wikipedia page was reviewed and deemed trustworthy by the author when looking at the references, and use of both web-based and books as reference material.

			Finally, other APPPM articles from the conceptbox were used as references, these are deemed trustworthy sources for information and further reading in addition to the standard material, with the knowledge that the authors behind the articles have done thorough and critical research in relation to the subject.

	=Annotated Bibliography=		=Annotated Bibliography=