What statement explains the business need for a project?

The business need for a project is best articulated through a project justification or business case. This document outlines the rationale for initiating a project, explaining how it aligns with organizational goals, addresses specific needs, or solves particular problems. It provides a comprehensive analysis of the expected benefits, costs, risks, and other critical factors involved, thereby making a compelling argument for why the project should be pursued.

In contrast, a project mission statement typically focuses on the overarching purpose or reason for the project rather than justifying its necessity from a business perspective. While a project objective overview outlines specific goals and targets, it does not necessarily address the broader business context or justification required to gain support for the project. A risk analysis report, while important for identifying potential challenges and risks associated with a project, does not intrinsically convey the fundamental reasons behind the project's initiation and does not provide the justification needed for stakeholders.