Business Case

Question 1

What does the business case provide??

Answer 1

The business case provides a recognised framework through 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.

Question 2

What are the decisions that could lead to termination of project ?

Answer 2

A changing economic environment may cause increases in the cost of providing funding, and therefore increase costs to an unacceptable level. The output being delivered may be forecast to not deliver the benefits that were planned

Question 3

What will a business case show at the highest level?

Answer 3

At the highest level the business case will show the level of investment required, the change intended and the resulting benefits

Question 4

List a number of business situations that are fundamental when looking at a business case content ?

Answer 4

• Background/Siuation
• Benefits
• Agreement
• Risk
• Budget
• Options Appraisal
• Stakeholders

Question 5

List 5 number of stakeholders that may be involved in a business case?

Answer 5

Project steering group
Project Sponsor
Project Manager
Subject matter experts
Suppliers

Question 6

What is benefits management

Answer 6

Benefits management is the identification, definition, planning, tracking and realisation of business benefits

Question 7

What is benefits realisation ?

Answer 7

Benefits realisation is the practice of ensuring that benefits are derived from outputs and outcomes, and is essential to support the achievement of the business case.

Question 8

What does a business management plan ensure ?

Answer 8

A benefits management plan ensures that there is a proactive management approach to maintain a focus on benefits-driven change throughout the entire life of the project