Prince 5 Business Case

Question 1

What is the difference between output and outcome?

Answer 1

Output: The project products. Outcome: What the users can acheive or do better with the products.

Question 2

What is a project benefit?

Answer 2

A measurable improvement resulting from an outcome.

Question 3

When is the benefit review plan made?

Answer 3

IP - Project Initialization

Question 4

Who makes the benefit review plan? Who specifies and realizes the benefits?

Answer 4

• Project Manager

- Senior User

Question 5

What are the three considerations for any investment (according to Prince2)?

Answer 5

Do nothing, do the minimum, do something.

Question 6

What’s the content of a business case? (9)

Answer 6

1) Executive Summary (Short overview)
2) Reasons (from project mandate)
3) Business options
4) Expected benefits (benefit and measurement.
5) Expected dis-benefits (outcome that is negative for stakeholder)
6) Timescales (start, end, benefits timing)
7) Costs (project plus maintenance)
8) ROI calculation
9) Major risks

Question 7

Example of Executive Summary for business case:

Answer 7

We recommend the development of X to allow A, B, C. We forecast to recover the cost in X months, with a benefit of Y for the followng Z years.