Overview

The business justification process lays out the costs, risks, and benefits of any project so executives can rationally make investment decisions. When all investment decisions are subject to the process as the basis of comparison, it optimizes the performance of the company, providing resources to the projects that offer the greatest net benefits. Business justification reduces the complexity of any investment to a single number, so management can compare many very different types of projects and decide where to invest their capital. The business justification process enables you to provide objective data about the benefits and costs of your project.

Even if your company has received a mandate from one of its customers or trading partners or is required to comply with a legal or regulatory requirement, you should still go through the business justification process. In addition to the benefits just mentioned, it will also help you select the right application, set milestones, prepare for the project, and focus on achieving the desired outcome.

The end result of the business justification process for your project is twofold. First, it enables you to decide which application(s) to pursue. This means you must identify and evaluate some number of applications and come up with a narrowed-down set of choices. Second, it prepares your company so your executives can allocate the appropriate types and quantities of resources and establish clear expectations. RFID has very broad applicability and can support a very large number of potential applications. Your job is to focus...