What is a project justification

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http://academlib.com/3356/management/... • Although some projects are done by direct order, most of the projects that we will be involved with will have a justification. The most credible justification is one where the identified benefits of doing the project are greater than the cost of doing the project. It is important to understand that there are many ways of describing the cost-benefit ratio for a project in order to justify it. Using monetary value is just one approach that does not have to be forced over all projects. Many of you have been faced with the problem of making a justification to company top management to carry out corporate training for your department staff or of the importance of introducing a new product line to your company's production cycle. These are good examples of internal company projects that would be justified with more qualitative results, such as increasing motivation and productivity, the ability to enter newly grown markets, or other results where monetary numbers could be difficult to develop or forecast. In this case one thing that should not be done is falsifying data by developing figures that have no real value. Instead, develop tangible qualitative results with measurable indicators to monitor and link these results to some business opportunity for your company or some problem the project might help to attack. ...

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