ABSTRACT
Each member of the Project Steering Group will have a different perspective on what constitutes a successful outcome. It is important to identify and describe the benefits of a project in commercial terms so that they may be compared to its cost. There are many techniques for doing so, including a cost/benefit analysis, using net present value to take account of the value of money over time and the internal rate of return to compare one project with another. Other stakeholders, especially the User Authorities and Specialist Authorities, must be engaged to identify their expectations. The Sponsor and Project Manager must broker compromises where needed so that the project has the greatest chance of meeting everyone’s hopes. The Business Case is the repository in which these vital expressions are captured. Here, they may serve to illustrate why the project is necessary, what constitutes a successful outcome and to confirm whether or not the project team can disband and the period of change come to a close.
