Chapter 5: Business Case

Question 1

Business Case Purpose:

The purpose of the business case practice is to establish mechanisms to judge whether the project is (and remains) desirable, viable, and _______ as a means to support decision-making in its continued investment.

Answer 1

The purpose of the business case practice is to establish mechanisms to judge whether the project is (and remains) desirable, viable, and achievable as a means to support decision-making in its continued investment.

Question 2

Organizations undertake projects to make measurable improvements in one or more aspects of
their business. How are these measurable improvements called?

Answer 2

BENEFITS

Question 3

How are the outcomes that are perceived as negative by one or more stakeholders called?

Answer 3

DIS-BENEFITS

Question 4

Output: the tangible or ________ deliverable of an activity. In PRINCE2, outputs are the _________ products that will be used to enable change.

Answer 4

Output: the tangible or intangible deliverable of an activity. In PRINCE2, outputs are the specialist products that will be used to enable change.

Question 5

Capability: the completed set of project ________ required to deliver an _________.

1.Change
2.Outputs
3.Outcome
4.Product
5. Capabilities
6. Teams

Answer 5

Capability: the completed set of project outputs required to deliver an outcome.

Question 6

Outcome: the result of ________, normally affecting real-world behaviour and circumstances. _______ are implemented to achieve outcomes, which are achieved as a result of the activities undertaken to facilitate the change.

1. a sprint
2. product/s
3. change
4. changes
5. rules
6. guidelines

Answer 6

Outcome: the result of change, normally affecting real-world behaviour and circumstances. Changes are implemented to achieve outcomes, which are achieved as a result of the activities undertaken to facilitate the change.

Question 7

Benefit: the measurable ________ resulting from an outcome that is perceived as an advantage by the investing organization and contributes towards one or more business _________.

Answer 7

Benefit: the measurable improvement resulting from an outcome that is perceived as an advantage by the investing organization and contributes towards one or more business objectives

Question 8

Dis-benefit: the measurable decline resulting from an outcome perceived as ________ by the investing organization and which detracts from one or more business objectives.

Answer 8

Dis-benefit: the measurable decline resulting from an outcome perceived as negative by the investing organization and which detracts from one or more business objectives.

Question 9

What does the business justification confirm with regards to the project?

Answer 9

That the project is viable, desirable and achievable

Question 10

Business justification is not only about costs but also about understanding the value of a project. True or False?

Answer 10

True

Question 11

If the business justification ceases to be valid, the solution is that the project can continue with minor adjustments.

Answer 11

False.

If the business justification ceases to be valid, the project should be stopped or changed.

Question 12

What are the steps of the evolution of the business case?

Answer 12

Project Mandate -> Project Brief -> Business Case

Question 13

Where is the benefits and sustainability tolerance documented?

Answer 13

in the Business Case

Question 14

What is the 4-step business case management technique?

Answer 14

Develop, check, maintain, confirm

Question 15

What are the three basic business options concerning any investment?

Answer 15

1. Do nothing differently
2. Do the minimum
3. Do more than the minimum

Question 16

Who should check the business case validity throughout the project?

Answer 16

the project board + the project manager

Question 17

Who should maintain the business case?

Answer 17

the project manager

Question 18

Who is responsible for post-project measurement activities?

Answer 18

The business (specifically the senior user)

Question 19

Is the project brief considered a management product?

Answer 19

YES

Question 20

The Business Case should outline how and when the expected outcomes can be measured. True or False?

Answer 20

False. it should outline how and when the expected benefits can be measured.

Question 21

In which management product should the sustainability targets be documented?

Answer 21

In the business case

Question 22

How many key roles that manage a project does PRINCE2 define?

Answer 22

SEVEN (7)

Question 23

What are the seven key roles that manage a project as defined by PRINCE2? (check this one with the team)

Answer 23

1. Business Layer
2. Project Executive
3. Senior User
4. Senior Supplier
5. Project Manager
6. Team Manager
7. Project Assurance
8. Project Support