The document that describes why the project is needed, and may include estimated costs and benefits, is called a business case.
A business case explains why starting a project, program, or portfolio is justified. It assesses the advantages, disadvantages, and risks of competing options and justifies the chosen course of action.
A business case explains why a project or task was started. It's frequently delivered in the form of a well-organized written contract, but it can also take the shape of a quick oral agreement or presentation.
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