Which management product do the Project Board use to decide whether to authorize initiation?
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In PRINCE2 (PRojects IN Controlled Environments) methodology, the Project Board is responsible for making high-level decisions about a project. One of their key responsibilities is to authorize the initiation of a project. In order to do this, the Project Board uses the Business Case management product.
The Business Case is a document that outlines the reasons why a project is necessary, the benefits it will provide, the estimated costs and resources required, and the potential risks and challenges that may be faced. The Business Case is typically created during the pre-project stage, before the project has been authorized. It is then updated and refined throughout the project lifecycle to ensure that the project remains viable and worthwhile.
When the Project Board is considering whether to authorize the initiation of a project, they will review the Business Case to ensure that the project is aligned with the organization's objectives, that it has a strong business justification, and that the costs and risks have been carefully considered. If the Project Board is satisfied with the Business Case, they will then authorize the initiation of the project.
While other management products such as the Project Brief, Project Initiation Documentation (PID), and Project Product Description may also be used to support the initiation of a project, the Business Case is the primary document that the Project Board uses to make the decision to authorize the initiation. The Project Brief is a high-level overview of the project, the PID provides a detailed plan for the project, and the Project Product Description describes the desired outcome of the project. However, the Business Case provides the Project Board with the most important information needed to make a decision about whether to initiate the project or not.