A structured document that justifies the initiation of a project or investment by outlining the expected benefits, costs, risks, and strategic alignment. It serves as a decision-making tool for stakeholders to evaluate whether to approve and fund the proposed initiative.
Combines 'business' (Old English 'bisignes' meaning 'care' or 'occupation') with 'case' (Latin 'casus' meaning 'event' or 'situation'). The formal business case methodology emerged in the 1980s as project management matured and organizations needed standardized ways to evaluate and compare investment opportunities.
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