Introducing projects- Business case

Question 1

What is a business case?

Answer 1

1.it provides justification for a project, programme or portfolio
2. Evaluates benefits risks and costs and the possible alternatives and why this is the preferred solution

Question 2

What would be in a business case content ? (7 things)

Answer 2

1.Reason
2.Options
3.Cost
4.Risk
5.Timescales
6.Investment appraisal
7.Benefits

Question 3

What are the different roles responsibilities when it comes to making a business case?

Answer 3

1.sponsor- oversee the construction of the steering group. They have the authority to approve business case.
2.steering group-oversee construction of the steering group. they should approve it.
3.PM-write business case or ensure its written
4.suppliers-can contribute to writing it through specialist knowledge
5.users- have knowledge of product requirement and benifits. Should be able to provide advice to sponsor on these.

Question 4

Define Benefits Management?

Answer 4

The identification, definition, planning, tracking and realisation of business benefits

Question 5

what are the 3 E’s of benefits categorisation

Answer 5

Economy-increased revenue and decreased cost
Efficiency- doing more with less
effectiveness- doing things better

Question 6

what are the 3 E’s of benefits categorisation

Answer 6

Economy-increased revenue and decreased cost
Efficiency- doing more with less
effectiveness- doing things better