Making the Business Case Flashcards
What are tangible costs and benefits?
They are tangible, usually one-ff, ognoing, and create benefits.
What is the lifecycle of a business case?
Feasbility study, requirements analysis and specification, solution design, solution dev and imp, operation of new process and systems.
How to we identify options for the business case?
A gap analysis but also consider business technical options, brainstorms ideas, shortlist ideas, produce a cost/benefit/impact/risk analysis and make recommendations.
Whare are intangible costs and beenfits?
Disruption and loss of productivity are intangible costs while benefits are icnrease job satisfaction, improve customer satisfcation, better market image and more.
How do we reduce risks?
We use technology, build contingencies in the plan, make risks visble to senior mgmt, do not allow for a build up.
How can we identify risks?
Checklists, questionnaires, software tools, brainstorm. Brainstorming meeting is the best option.
What is a risk?
It’s the possibility of a threat of damage, injury, liability, loss or other negative occurrence that is caused by external or internal vulnerabilities.
Why is a business case necessary?
Identify and describe business needs, justify expenditure, provide information and statistics to prioritise cases.
What is the structure of a business case?
Introduction, mgmt. summary, description of current situation, options, costs/benefits, investment appraisal, impact, risk, recommendations, appendix.
Who is the business case aimed at?
Key decision makers, senior business mgmt, project managers, historical needs.
