"A business that makes nothing but money is a poor kind of business."— Henry Ford
The PRINCE2 Business Case documents the justification for undertaking a project. It helps decision-makers determine whether an initiative will deliver value and how it compares to alternative projects based on stated objectives and anticipated benefits.
In PRINCE2, the Business Case serves to establish judgment criteria around whether a project is desirable, viable, and achievable. It requires review and updates at every stage boundary to ensure these conditions remain satisfied.
Typical Business Case Content
- Reasons for undertaking the project
- Business options analysis and recommendation
- Expected benefits with set tolerances
- Expected disbenefits
- Project timescale
- Cost summary (initial and operational)
- Investment appraisal (NPV, ROI, payback period, or cash flow)
- Major risks summary
Quality Characteristics
A strong PRINCE2 Business Case should be:
Justifiable
There is a persuasive case for investment.
Verifiable
Claims can be checked and confirmed.
Owned
A named person (the Executive) is accountable for it.
Measurable
Benefits can be quantified or measured.
Achievable
The expected outcomes are realistic given the resources available.
Tailored
The level of detail is appropriate for the project size and risk.
Reviewed
It is assessed and updated at every stage boundary.
Ownership and Lifecycle
The Executive is accountable for and authors the Business Case. An Outline Business Case is created during Starting Up a Project, while the full Business Case is completed in Initiating a Project. It is reviewed and updated at each stage boundary throughout the project.
A Business Case template is available on the PRINCE2 Templates page.