Project Business Case Assignment PDF

PARTICIPATE IN A
PROJECT

PART A: QUESTION AND ANSWER.
1.1 Explain the features of a project business case
The project business case outlines the justification for project undertaking. The project
business care undertakes the cost associated with projects and the expected benefit with the
project once get completed (Henderson, 2015).
The following are the features of project business case are : Consideration of option - It includes the options available while consideration before the
beginning of the projects was adopted. Cost - The cost associated with the project business case is determined and estimated.
Also, the availability of fund is measured initially. Strategic element - It consists of strategic need to project associated with execution of the
project business case. Return on investment - It is based on expected costs and benefits associated with the
business case (Lloyd Walker, French, and Crawford, 2016) . Also, the expected returns
on investment are determined. Expected time scale and benefits - It measures the benefits of the organization by project
business case (Shahand, van Duffelen, and Olabarriaga, 2015). The time will also
determined in the organization in execution of project business case.
 Risks - The risks while performing project business case along with the measures to be
set for settling the risk associated with business case of the project.
1.2 Explain the stages of a project life cycle
The four stages of project life cycle are : Initiation - In this phase, the business problem, need and opportunity are determined.
Also, the objectives of the project are figure out on this stage. Along with it feasibility
and identification of deliverables of the project are determined (Shahand, van Duffelen,
and Olabarriaga, 2015). Stakeholders of the project are identified on this stage. At last
business case developed by comparison of potential benefits and cost. Planning - The project planning is executed under certain steps which includes project
plan creation. After this project diagram is prepare by creating workflow documents.
Then comes budgeting and financial planning step (Eshlaghy, and Razi, 2015). The
return on investment and budgets get fixed at this stage. After this step, the resources are