Monitoring the business case and adapting to changes

8 Feb

As mentioned by irishtechylad it is important to monitor and review the risk assessment element of the business case. Thus, if there is a need for change then its imperative that action be taken. However as eddyjquinn pointed out, people can be afraid of change in the workplace due to various reasons such as uncertainty.

The basic concept of monitoring the business case is to do with assessing the sort of work that has been done for a project including costs, risks and issues. A business case should be routinely monitored to prove that it continues to be practical in relation to its alignment with strategic objectives. For example, this could be carried out in the form of the production of documentation and reports during vital periods. These reports provide the project board with a short description of the status of the project at periods defined by them. Monitoring is hugely beneficial as it can be used to supervise the development of products, outputs, and outcomes. The whole idea of reporting the development is basically to advise the right people during the right time of both positive and negative events, which enables progression or remedial action where necessary.

When a business case is been reviewed, groups of people will need to come up with a decision as to whether the project is reasonable, in relation to other objectives and most importantly, value for money. When making this decision, these people will need to take into account the balance of risks in relation to the project. A process could be put in place so as to create decent proposals but it is also acceptable to decline a business case that you may think signifies a bad strategic option. You may also decline it if you think that it is unaffordable or signifies bad value for money.

As well as deciding whether or not to accept the business case, the groups of people should also define their plan for keeping a grip on project progress. This may include whether there are vital actions whose implementation they will need to monitor and whether they may need sight of a post implementation review.

Sources;

http://www.dfpni.gov.uk/project_planning_mrc

http://www.hm-treasury.gov.uk/d/greenbook_businesscase_shortguide.pdf

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