At this early, investigative stage of a potential project, the most appropriate step is to create a high-level Business Case. This document, often called an outline or strategic business case, serves to validate the initial idea against the organization's strategic objectives. It provides a preliminary view of the expected costs, benefits, risks, and timescales based on high-level estimates. This allows senior management to make an informed decision on whether to commit further resources to a more detailed investigation and the development of a full, detailed Business Case. It formally structures the "investigate further" mandate given to the team.

B. Create a detailed Business Case: This is premature. The team has just been formed to investigate and lacks the detailed information on costs, benefits, and solutions required for a detailed business case.

C. It is too early to work on the Business Case: This is incorrect. It is the ideal time to start the Business Case, beginning with a high-level version to frame and justify the investigation.

D. Confirm with the directors the costs and benefits: This is an activity within the process of creating a business case, not the complete next step. The team's job is to investigate and quantify these elements.

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1. Paul, D., Cadle, J., & Yeates, D. (2020). Business Analysis (4th ed.). BCS, The Chartered Institute for IT.

Reference Point: Chapter 5, "Making a Business and Financial Case," Section 5.2.2, "The business case lifecycle." The text explains that a business case evolves, typically starting as a "strategic" or "outline" case during the feasibility study. This initial version justifies the investigation and is later developed into a "full" or "detailed" business case once more information is available. The scenario described is clearly in this initial feasibility phase.

2. AXELOS. (2017). Managing Successful Projects with PRINCE2 (6th ed.). TSO.

Reference Point: Chapter 8, "Business Case theme." The PRINCE2 methodology, which is highly influential in the BCS curriculum, explicitly distinguishes between an "Outline Business Case" created during the 'Starting up a Project' process and the detailed "Business Case" developed during the 'Initiating a Project' stage. The scenario aligns with the 'Starting up a Project' process where an initial justification is required.