ABSTRACT
In essence, financial management relies on estimating the cost of the work and quantifying the value of potential benefits likely to be derived from the expected outcomes. The feasibility study, options appraisal and development of a business case typically provide the initial justification for undertaking the work through the evaluation of costs, benefits and risks of alternative options. This underpins the rationale for commissioning the work and may also be utilised in prioritising and selecting between competing solutions, projects or programmes.
