Business plans are explained at section 4.5.6.Ĩ.1.4 Development of the business case for any proposal should be a continuous process from inception to implementation. DoF uses the latter term in the context of financially-assisted or commercially-oriented projects, for which a business plan is required in addition to an economic appraisal in order to establish project viability. It is not just to be prepared for purposes of obtaining approval and then shelved.Ĩ.1.3 The terms business case and business plan are not interchangeable. Prior to each key decision point, the business case document should be treated as a living document, to be revisited and updated regularly as information and assumptions are developed and refined. The effort to be put into business cases should be in proportion to the scale and importance of the proposal.Ĩ.1.2 Documentation of the business case is required at various stages to inform key decisions. A business case should contain an economic appraisal and other information including the proposed arrangements for financing, management, marketing, procurement, monitoring and evaluation of the relevant policy, programme or project. Business cases should provide assessments of strategic fit, option appraisal, achievability, value for money and affordability. 8.1.1 Appraisals should be undertaken and presented within a wider business case.
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