A Business Case provides the justification for an activity, project, programme or portfolio to demonstrate its economic and/or technical feasibility. The Business Case is based on a structured and iterative approach to decision making, composed of different sections, which allows the evaluation of the benefit, cost and risk of alternative options. It is a formal document to demonstrate the feasibility of the project, which supports the decision to launch a project and provides an agreed and fixed basis for the ongoing assessment of the project objectives. It is established by the project leader, who demonstrates on what assumptions his or her estimates of project costs and benefits are based, in order to gain the commitment of all contributing functions.
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