Appropriateness of Business Case Evaluation Techniques

The key elements of business case evaluation include:

• Process decision tree flow charts and their associated instructions, guidelines and policy documents. Do these exist for each of the life cycle asset management activities, such as asset creation, asset operation, asset maintenance, asset accounting and economics?
• The filters used to decide on the levels of detailed analysis adopted for different values of projects
• The benefits identified on each business case and the way they are broken up to suit the organization's business objectives and programs
• The degree to which this process is automated and the efficiency with which it can be carried out
• The economic evaluation techniques that are adopted
• Can the guidelines and processes be thoroughly understood by everyone involved in the process?
• What is the quality assurance process and are independent external quality auditors used to review the projects?
• Can these business cases and the resulting programs be revised or varied easily? This is important as organizations may need to adjust their current objectives as according to:
  • Environmental impacts
  • Occupational health and safety
  • Disruption to customers.