What term describes the preferred way forward in a project context?

The term that describes the preferred way forward in a project context is the outline business case. This document serves as a strategic framework that outlines the necessary components to assess the viability and strategic alignment of a proposed initiative. It typically includes considerations such as the project's objectives, the benefits it aims to deliver, potential risks, and an initial evaluation of costs and resources. The outline business case also helps stakeholders understand how the project fits within organizational priorities and provides a basis for decision-making.

In contrast, a feasibility study focuses more on the evaluation of the practicality and likelihood of success for a given project, addressing whether it can be achieved. The strategic business plan outlines the broader strategic direction for an organization, encompassing long-term goals rather than specifically addressing a particular project. The preferred option case is a more detailed assessment that emerges after the outline business case has highlighted a potential path forward, synthesizing previous analyses into a recommended option. Therefore, the outline business case is the most appropriate term for identifying the preferred way forward in a project context.