What is the difference between a Business Case, Project Charter and Vision & Scope document?
Business case is used to or its importance is in finding the reason ,cause or factors to start the project.Includes all the factors that will be favourable or beneficial for to the project. Well structured and may be presentaion also.
Vision document is the document that represent what the company or project will be in future.Also termed as vision based on which all the activities and roles are assigned.
Project Charter in project management template is the tool that analyses scope or objective of the project.The benefits analysis,facility analysis are carried out on this basis.
Clarify the scope as much as time permits before you prepare the estimate. Make sure this scope is document and that a change control mechanism is in place to negotiate changes to budget and schedule when the scope changes. When you present an estimate you should have an approximate idea of how you intend to deliver the project. To maintain some realism, include the project manager who will be responsible for the project in the estimating process. In the original business case you present an estimate of the development cost. Your first estimate should error on the high side because clients remember the first estimate. Start to establish expectations about the project. At each stage of the project the accuracy of your estimate will improve as more is defined. The profitability of your business depends upon your ability to deliver the project with the estimated schedule and budget. Your margin of error is low. A ten percent slippage may represent 100% of your profit. Last update: Oct.
