Business Case and Feasibility Study
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 new project or task. Generally, the business case is a precursor to the start of any new project.
The business case is a key element in the decision-making for any project. The proposed return on investment (ROI), along with any other expected benefits, is the most important consideration for decision-making in any new project.
The first step in developing a business case is to define the need for and justification of the problem.
A feasibility study or analysis is an analysis that takes various factors into account, including economic, technical, and legal factors, to ascertain the likelihood of completing the project successfully.
A feasibility study should consider how the project will impact the organization in terms of risk, costs, and benefits. It helps...
