Business Case Flashcards
Which of the following best describes a project’s business case?
A The definition of why the project is required and the desired benefits.
B A statement of what the project will deliver in terms of products/deliverables.
C The reason why the project sponsor wants the project to proceed.
D A statement as to how the project fits into the long-term aims of the project sponsor.
A The definition of why the project is required and the desired benefits.
What information would be expected as content for a business case?
A A detailed schedule of the project.
B An outline of the project management team.
C An outline of the estimated costs of implementing the project.
D A detailed breakdown of the scope of the project.
C An outline of the estimated costs of implementing the project.
Which of the following statements about the business case is true?
A The business case should always be referred to throughout the project.
B The business case once written will never change.
C The business case becomes the project manager’s responsibility, once the project is in the implementation stage.
D The business case contains key information on how the project will be performed.
A The business case should always be referred to throughout the project.
The responsibility for development and production of the business case is primarily with:
A the project manager
B jointly shared between the project manager and project sponsor
C the project sponsor
D the project steering group/committee
C the project sponsor
Which of the following would not be considered as part of the business case?
A Safety plan for the project.
B Implementation options.
C Stakeholder identification.
D Business benefits.
A Safety plan for the project.
What is the importance of having a business case?
A It allows the sponsor to use the document as a baseline to calculate project slippage.
B It provides an overview of the project team performance at each stage of delivery.
C It shows how the project manager is performing in delivering the project.
D It allows the sponsor to decide on project continuity when used at gate reviews.
D It allows the sponsor to decide on project continuity when used at gate reviews.
Which one of the following does not describe the prime purpose of the business case?
A To define the strategic direction for the project.
B To describe the operational impact of project delivery.
C To show how the project tasks will be scheduled to achieve the success criteria.
D To document the benefits of the various options that have been considered.
C To show how the project tasks will be scheduled to achieve the success criteria.
Which of the following is most true of the business case?
A It provides details of the overarching approach to be taken to move from the current to a future desirable state using a coordinated and structured approach.
B It evaluates the benefit, cost and risk of alternative project options and provides a rationale for the preferred solution.
C It demonstrates the relationship between the cost of undertaking a project, initial and recurrent, and the benefits likely to arise from the changed situation, initially and recurrently.
D It describes each major element in the work breakdown structure (WBS), describing the work content, resources required, the time frame of the work element and a cost estimate.
B It evaluates the benefit, cost and risk of alternative project options and provides a rationale for the preferred solution.
How does having a business case help an organisation?
A It provides a documented account of the decisions that have been made and by whom in the planing of the project’s finances, ensuring the project’s compliance with recognised governance standards.
B IT provides an overview of how the project will deliver the scheduled progress over the period agreed between the project manager, sponsor and other key stakeholders associated with the project.
C It provides a means by which the sponsor can monitor the manager’s performance in relation to the plans documented in the business case and the highlight points at which a change of project manager may be necessary.
D It provides a recognised framework by which project spending proposals can be recorded, reviewed and audited to learn lessons about how efficiently the organisation is deploying funds to achieve its targeted returns.
D It provides a recognised framework by which project spending proposals can be recorded, reviewed and audited to learn lessons about how efficiently the organisation is deploying funds to achieve its targeted returns.
What aspects of benefits realisation would be considered as most important to note in the business case?
A Who is going to be responsible for carrying out each of the project’s activities.
B How the benefits will be realised, measured and the stakeholders involved.
C What type of contract is going to be used to procure delivery of the project.
D Which benefits should be realised first and then the subsequent order.
B How the benefits will be realised, measured and the stakeholders involved.
Which statement regarding the purpose of the business case would be most true?
A Once agreed the business case will become the baseline by which the project will be deployed.
B It will act as a reference for the project team regarding the specific processes to be used for project delivery.
C It will determine which stakeholders are most eligible to become members of the steering group.
D It will be referred to throughout the project in order to make decisions about the continuing viability of the project.
D It will be referred to throughout the project in order to make decisions about the continuing viability of the project.
What aspects of business case development will assist project management the most?
A That the sponsor who has developed the business case will also be the sponsor who overseas actual delivery of the project.
B That the option chosen has taken recognition of how the resultant project is actually going to be managed and delivered.
C That the project management plan for the project is captured as an appendix of the approved business case
D That the business case has sufficient detail to allow the project manager to take over accountability for the financial success of the. project.
B That the option chosen has taken recognition of how the resultant project is actually going to be managed and delivered.
