1.1 – Business Objectives

You need to:

  • Understand what the business wants to achieve
  • Balance competing objectives (make project achieve able)
  • Identify important factors which will influence the outcome

By producing: 

 

1) Background Knowledge 

  • Record the information that is known about the organization’s business situation at the beginning of the project.

2) Business Objectives

  • Describe the customer’s primary objective, from a business perspective
    • how can we keep current customers by predicting when they are prone to move to a competitor.
  • In addition to the primary business objective, there are typically other related business questions that the customer would like to address.
    • “How does the primary channel used (e.g., ATM, branch visit, Internet) affect whether customers stay or go?” or “Will lower ATM fees significantly reduce the number of high-value customers who leave?”

3) Business Success Criteria

  • Describe the criteria for a successful or useful outcome to the project from the business point of view.
    • measured – reduction of customer churn to a certain level,
    • subjective – “give useful insights into the relationships.”
      • indicated who makes the subjective judgment.

 

Example of Document

 

 

 

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