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