Assume your executive management team has requested that a standard process be put in place for a business case for new programs and projects to pursue in the organization. You are the leader of a cross-functional team that is designing this process. Your executive shave stressed they wish to analyze each proposal from multiple business perspectives and want a balanced view of the business opportunity to be realized as well as the business risk to do so. The first step in this generic process should be to

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1. Determine the key milestones in the program

2. Define the high-level requirements

3. Establish authority, intent, and philosophy

4. Analyze program complexity and strategic alignment