Initiating A Project

Question 1

Definition of Business Case

Answer 1

Decision-making tool used in determining the affects a particular decision will have on profitability

Question 2

This is a decision-making tool used in determining the affects a particular decision will have on profitability

Answer 2

Business Case

Question 3

The first 3 questions you should always get an answer to when initiating a project:

Answer 3

1) What is the purpose of the project?
2) What are the goals and objectives of this project?
3) What is success, and how will it be measured?

Question 4

Fill in the blank(s):

“What is the ___ of the project”

Answer 4

Purpose

Question 5

Fill in the blank(s):

“What are the ___ and ___ of this project?”

Answer 5

“Goals” and “Objectives”

Question 6

Fill in the blank(s):

What is ___, and how will it be ___?

Answer 6

“Success” and “Measured”

Question 7

Business Cases are intended to do what for key decision-makers?

Answer 7

Convince key decision-makers of the merits of a particular course of action

Question 8

When should business cases be written?

Answer 8

At the start/prior to the project being started

Question 9

Who creates the business case?

Answer 9

Business Analyst, manager, executives

Question 10

List the 5 phases of an Effective Business Case

Answer 10

1) Initial Analysis
2) Determine Potential Solutions
3) Write the Business Case
4) Review the Business Case
5) Present the Business Case

Question 11

The 1st step of Creating a Business Case

Answer 11

Initial Analysis

Question 12

The 2nd step of Creating a Business Case

Answer 12

Determine Potential Solutions

Question 13

The 3rd step of Creating a Business Case

Answer 13

Write the Business Case

Question 14

The 4th step of Creating a Business Case

Answer 14

Review the Business Case

Question 15

The 5th step of Creating a Business Case

Answer 15

Present the Business Case

Question 16

During Initial Analysis, you determine ___ ___ requirements

Answer 16

“High Level”

Question 17

During Initial Analysis, you need to thoroughly understand the ___ or ___

Answer 17

“Problem” or “Opportunity”

Question 18

During Initial Analysis, identify this to determine ROI

Answer 18

Data needed to support the Business Case

Question 19

When determining potential solutions, you identify what?

Answer 19

All possible solutions to a problem
Examples include: 
-Benefits
-Costs
-Timetable of a project
-Risks
-Time before ROI is realized

Question 20

This should always be one of your solutions during step 2 of Creating a Business Case

Answer 20

Do Nothing