The Business Case: Defining the Project

The objectives of the business case are to examine a proposed metallurgical project and answer fundamental questions about project feasibility, risks, opportunities, and value. A business case fulfills these basic functions: estimates economic value; helps to understand competitiveness; serves as a risk management tool; and serves as a communication tool. A business case evolves with the project life cycle, and supports the gate reviews at the end of each phase of engineering, through to project construction and operations. A business case must be holistic, including all elements of scope that can impinge on project risk and value.