Business Case

Question 1

Business Case - general

Answer 1

Concept phase of linear, starts with lots of options, these are deleted down bc too expensive, misalignment etc until refined into one justified and funded business case. Business case provides justification for project and defines expected outcomes

Question 2

5 elements of business case

Answer 2

In the strategic context section this would justify the project and how it links to the strategic objectives of the business - what is the case for change.

Within the economic analysis section there should be return on investment (ROI) based on investment appraisal of options

Within the commercial approach section would include things like the procurement strategy and how this should be followed.

Within the financial case section, the affordability of the project should be outlined to the organisation and in what timeframe.Where will the project be funded from

The management approach section will outline for example decisions on life cycle, timelines, and define the roles and responsibilities on the project.

Question 3

SWOT, PESTLE, VUCA

Answer 3

Strengths weakness opps and threats (understand project context and the organisation), political, economic (market conditions), sociological (views and impact), technological, legal, environmental (external factors that may impact project, volatile (market place stability) uncertainty(known unknowns) complexity ambiguity (lack of clarity)

Question 4

Other considerations

Answer 4

1. Procurement processes. 2. Regulatory requirements 3. Use of structured methods. 4. Appetite for risk

Question 5

When to review business case generally

Answer 5

Throughout lifecycle, look for impact of any change

Question 6

Review business case, concept

Answer 6

Produced here, becomes baseline for project

Question 7

Definition phase

Answer 7

PMP created here with business case as guiding document. Needs to be aligned

Question 8

Deployment phase

Answer 8

Any changes, issues, risk, reviewed against business case. Changes justified

Question 9

Transition

Answer 9

Output of project assessed against business case, discrepancies addressed and resolved

Question 10

Adoption

Answer 10

Outcomes and realised benefits compacted to those in business case, determine if project is success

Question 11

Business case as baseling

Answer 11

1. Time baseline (timeline, key milestones) 2. Cost baseline 3. Scope baseline