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The key feature of this activity is recognizing that identifying candidate projects is something that an organization should do on a regular basis, not just once each year. Further, when examining projects for approval, it is vital to also examine the resource capacities and capabilities available for assignment. It is futile to assign a major new project requiring extensive discovery of business requirements if no business analysts are available. Project Identification proceeds Project Initiation.
Update Business Case: When additional information is received on a Candidate Project, obtain the pending Business Case from the repository and revise the data. This Business Case should now be reconsidered by process 1.2.
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Project management software tools allow companies to become competitive in their environments, optimising time and effort and keeping project on track. They are used for planning, managing time, resources and people, controlling costs and monitoring project progress.
Review Business Case: The Business Case will be examined by an screening body with the corporate authority to accept or reject a Candidate Project. When a Business Case is accepted, the Candidate Project is captured in a repository for ranking and selection. If additional information is required on a Business Case, note it as “pending” and issue an Information Request to the requester. If a Business Case is rejected, send the information to the requester with an explanation for the rejection. Remain this information in a repository.