How Projects are Started

A free video tutorial from Umer Waqar, PMP
Project Management Instructor
Rating: 4.5 out of 5Instructor rating
4 courses
99,041 students
How Projects are started+Business Case

Lecture description

  • Explains Why are projects started
  • Explains What is a business case

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PMP Exam Prep Project Management Professional Certification

PMP Certification 2022 - Get 35 PDUs - Project Management Professional - New PMP Exam Training PMBOK 7 - Pmp Course

20:50:39 of on-demand video • Updated September 2022

Complete PMP Certification Training 2022: Everything you need to pass the New PMP Exam easily on your first try. Covers PMBOK 6, PMBOK 7, and Agile in detail.
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In this video, we're going to learn about how projects are started. We will also learn about what is the business case. Projects are mostly started due to business needs. An organizational strategy and organization may want to develop a new software for itself, or it may want to launch a new product line, or it may want to upgrade its factory machinery. All of these reasons may be considered as the business case for starting a project. So let's understand what a business case is. A business case explains the reason why a project was chosen to be started in the first place and whether it was worth taking up. For example, an automobile parts company might want a new machine which allows them to produce products in lesser time and increases productivity. Or a smartphone company might want to develop a new smartphone product in order to explore new markets and increase profits. So from these examples, we can see how a business case helps in giving birth to the project.