Business Case and Feasibility Analysis
It is very important to consider the business case and feasibility analysis before undertaking any new project to identify potential risks, allocate resources efficiently, and focus on projects with strong returns. The IS auditor should have a basic understanding of the business case as well as the feasibility study. Both concepts are discussed in detail in the following subsections.
Business Cases
A business case is a justification for a proposed project. It is prepared to justify the effort and investment in a proposed project and captures the reasoning for initiating a project or task. Generally, the business case is the precursor to the commencement of the project. A business case includes the proposed return on investments (ROIs), along with any other expected benefits, which are the most important considerations for decision-making in any new project.
The project sponsor is responsible for developing the business case.
