The Business Case Flashcards
Business Case
- is the most important part of why projects are undertaken
- It should be CONCISE, VISUALLY APPEALING, and EASY TO READ.
-It summarizes information about the project and serves as the first project proposal. - Also called “Business Justification” or “Business Objective”
A business case presents an objective analysis of what?
- a business problem, potential solutions, and financial impact.
A business case can contain any relevant data such as:
- An excutive summary
- A problem statement
- Options
- Financial Overview
Project Definition contains relevant information about the proposed project such as:
- Project Scope
- Resources
-Milestones
-Implementation Timeline
Project Recommendation
- Provides an analysis of which option would likely be the best solution for the project
- It should reflect the FINANCIAL OVERVIEW, RETURN ON INVESTMENT, and PROJECT DEFINITION.
What does a good business case present:
- A problem and an expected outcome with multiple options.
ESG (Environmental, Social, and Governance) Factors
refer to a company’s actions and programs beyond maximizing profits.
Financial Analysis is also called what?
Financial benefit, cost-benefit analysis, or an economic return
ROI (Return on Investment)
- Compares the financial benefit of the project to the cost, and it is written as a percentage.
- Postive number represents a profitable project.
- Negative number means the project lost money
Assumptions in a Business Case
Factors that you state as true in the calculations to present to a simplified financial plan
What is included in Corporate Identity?
- The vision, mission statement, values and brand of the company.
What are some tangible items for Corporate Identity?
- Symbols
- Color Schemes
- Memorable Slogan or Spokesperson
What are some INTANGIBLE items:
- General sense of how they feel about the company
- General characteristics or traits
- Company’s societal influence
