4. Business Case:Understand a business case as the justification for the initiation, investment and/or continuation of a project in terms of benefits, costs and risks.

Question 1

Learning Outcome

Knowledge of the tools and techniques used to determine factors which influence and impact a project’s business case (including PESTLE, SWOT and VUCA).

b) Understand the importance of regularly reviewing the impact of any changes in a project to the business case.
and
Know that the business case forms the baseline for the project.

Question 2

The five components of the Business Case

Answer 2

Strategic Case
Economic Case
Commercial Case
Financial Case
Management Case

Question 3

Strategic Case

Answer 3

Outlines the case for change.

Question 4

Economic Case

Answer 4

The investment appraisal of options.
The projected return on investment

Question 5

Financial Case

Answer 5

Outlines the affordability to the organisation and the associated timeline

Question 6

Management Case

Answer 6

Outlines the roles, governance structure, lifecycle choice etc.