Final answer:
The business case is the required document that provides the primary justification for an investment decision and is necessary for formulating a program charter.
Step-by-step explanation:
The business case is required as one of the document deliverables before the program can be formally chartered and may be considered as the primary justification document for an investment decision. A business case outlines the rationale for undertaking a project or program, presenting the benefits and reasoning to persuade decision makers to take action. It serves as a critical component in planning and decision-making processes and provides a framework for evaluating the viability and value of an investment.
In program or project management, a business case typically includes an analysis of the potential benefits, costs, risks, and opportunities associated with the proposed investment. It often encompasses various scenarios, an outline of the resources required, and a timeline for expected outcomes. This document is fundamental in securing the necessary approval and funding, as well as serving as a reference for the project's objectives and deliverables.