LO3: Report on a business case

for a project (PROJ605)

Learning Steps
3.1 Discuss best practices for creating a business case.
3.2 Practice creating an “elevator pitch” for your project.
3.3 Develop a business case.
3.4 Present a business case.
What is an elevator pitch?

”
Elevator Pitch: The first and perhaps most important
tool in your presentation materials is the elevator
pitch. In its most simple terms, an elevator pitch is a
brief summary of your business (or project) that is
developed to entice an investor to want to hear more.
It is short enough to be told as you ride in an elevator
with a prospective investor. Hence the name.
– The 12 Magic Slides
Elevator Pitch – Self Learning Module

Module talks about personal elevator pitch Pick up the main points for your presentations
Business case

• A justification for a project or initiative

• List the objectives and reasons for project
initiation
• Helps measure the project success at the
end of the project against project
objectives
• Can be used in a go/no-go
Business needs

• Determination of what is prompting the

need for action
• Situational statement documenting the
business problem or opportunity to be
addressed including the value to be
delivered to the organization
• Identification of stakeholders affected
• Identification of the scope.
Define scope
• This is where you write down a detailed description of the work
you’ll do (and sometimes work you do not do) and what you will
produce
• You’ve got to know what (and how) you will build BEFORE you build
it
• When done right, the stakeholders are never unpredictable
because you already understand their needs
• Scope Management means figuring out what’s OUT OF scope, not
just what’s part of it.
Project scope statement
• The Scope Statement is an essential element of any project. Project
managers use the Scope Statement as a written confirmation of the
results your project will produce and the constraints and
assumptions under which you will work
• Both the people who requested the project and the project team
should agree to all terms in the Scope Statement before actual
project work begins
• Output of the “Define Scope” process (Scope Management Plan).
Project scope statement
A good Scope Statement includes the following information:
• Justification: A brief statement regarding the business need your project addresses. (A
more detailed discussion of the justification for the project appears in the project charter.)
• Product scope description: The characteristics of the products, services, and/or results
your project will produce.
• Acceptance criteria: The conditions that must be met before project deliverables are
accepted.
• Deliverables: The products, services, and/or results your project will produce (also referred
to as objectives).
• Project Exclusions: Statements about what the project will not accomplish or produce.
• Constraints: Restrictions that limit what you can achieve, how and when you can achieve it,
and how much achieving it can cost.
• Assumptions: Statements about how you will address uncertain information as you
conceive, plan, and perform your project.