IP3 Refining the Business Case and Risks

From IT frameworks

Refining the Business Case and Risks is the third sub-process of the PRINCE2 process Initiating a Project

Contents 1 Purpose 2 Trigger 3 Product 4 Critical success factors (CSF) 5 Key performance indicators (KPI) 6 Roles 7 Activities 8 Definitions 9 Putting into use 9.1 Best practice 9.2 Challenges and solutions 10 References and resources

Purpose

The purposes of this sub-process is to produce a more detailed Business Case in order to flesh out the "why" of the project, and to update the Risk Log with new risks found so far.

Trigger

This Sub-Process follows after IP2.

Input to the process:

• Project Brief
• Project Approach

Product

Completing IP3 will generate the following products:

• Updated and refined Business Case
• Updated Risk Log
• Updated Project Plan

Critical success factors (CSF)

Key performance indicators (KPI)

Roles

• Owner: Project Manager
• Manager: Project Manager
• Other:
  • Project Support
  • Project Assurance

Best practice shows that the Owner and the Manager roles should be merged

Activities

Definitions

• Project Brief
• Business Case
• Risk Log
• Project Plan

Putting into use

Best practice

Challenges and solutions

References and resources

• Managing Successful Projects with PRINCE2