What does the economic case of the SOC include?

The economic case of a Statement of Options and Choices (SOC) focuses on justifying investment decisions through a structured analysis of costs, benefits, risks, and other critical factors that contribute to an informed decision-making process. The inclusion of critical success factors is central to ensuring that the project aligns with strategic objectives and meets stakeholder expectations.

Critical success factors are the essential areas of activity that must be performed well for the project to achieve its goals. These factors help in setting benchmarks against which project performance can be measured. By identifying and evaluating these success factors, stakeholders can ensure that the economic case is robust, highlighting not only financial returns but also broader impacts that contribute to the project's overall value.

Other aspects like tender evaluation, cost-benefit analysis, and risk assessment are indeed significant components of project evaluation, but they do not encapsulate the full scope of the economic case in the same way that critical success factors do. Critical success factors provide the foundational criteria that guide decision-making and highlight areas that require focus to ensure project success.