The Business Case
Because the base code must be carefully written and extensively tested before being used in the first project, the business benefits only start to appear about a year after the project starts. Therefore, the project should probably be funded as an internal IT project that can then be recovered from the business in small chunks every time a new application is built on the base code. I cannot stress enough that having no base code will invariably result in either nonstandard code, increased development time, or both. At a time when many organizations are employing the services of third-party contractors, it is important for corporate code to conform to the defined standards of that organization. By having a base to start with, you also increase the likelihood of your standards being adhered to.