Analysing Business Documents need for Project Charter
There are two main documents needed for Project Charter development. They are a business case and benefit management plan. The business case as a document is the business document most commonly used to create the project charter. The business case describes the necessary information from a business standpoint to determine whether the expected outcomes of the project justify the required investment.
It is commonly used for decision making by Managers or executives above the project level. Typically, the business need and the cost-benefit analysis are contained in the business case to justify and establish boundaries for the project.
Here are some of the reasons why a business case is being created…
#1 MARKET DEMAND
A Business case might be created to meet up with market demand. An organization might decide to develop a new product just because there will be high demand for such products or services.
#2 ORGANISATIONAL NEED
This vital document might also be created due to the organizational needs of the organization. Take for example, due to high overhead cost, a company might decide to develop new initiatives that will reduce the cost of operating the business.
#3 CUSTOMER REQUEST
A Business case might also be developed due to requests from customers in an organization. An organization might decide to set up a new office to cater to the need of its customers that are located in a particular area.
There are some projects that are necessitated by technological advancement in an organization. A company might decide to develop a new mobile application to cater to the need of its online customers.
#5 LEGAL REQUIREMENTS
A company might decide to execute a project in order to meet up with legal requirements and regulations. Take, for example, a company decided to organize training in order to educate his employees concerning new rules and regulations of the government.
#5 ECOLOGICAL IMPACTS
Also, a company might embark on a project as a result of the ecological impact of their services on their environment. Take for example an organization that is embarking on a project in order to correct some environmental degradation in an organization.
#6 SOCIAL NEED
There are some projects that organisations can embark upon due to the corporate social responsibility of an organisation. A company might decide to provide pipe-borne water or public toilet for a community lacking in social amenities.
Now your take on this argument.
We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.
You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.