A Business Case Often Includes Which of the Following

Step 1 Business Needs and Desired Outcomes which occurs during Phase 1. A broad-based formula for how a business is going to accomplish its mission what its goals should be and what plans and policies will be needed to carry out those goals best defines A business case.

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100 5 ratings The answer is.

. Clearly Define and Link Each Benefit Cause. Describing the strategic need for the project. Step 2 Preliminary Options Analysis Step 3 Viable Options and Step 4 Justification and Recommendation which all occur during Phase 2.

Relevant government or industry standards. The business case author needs to be. The economic case the solution represents best value.

This awareness of not only the most likely results but also the best-case and worst-case scenarios is a crucial element in creating a Great Business Case. This step is essential especially when ending a physical copy of a business letter. Five elements of a business case.

This is a step in the right direction and there certainly is a business case for DI. Diversity and inclusion initiatives are key to. The Business Case is a reference point before during and after a project.

View the full answer. B The aggressive p. While some factual real data may be known eg number of employees allowances must be made for potential variation or uncertainty.

The third approach most appropriate for new. The five steps of the business case are the following. The business case presents a detailed explanation of the purpose and objectives for the project.

As the project begins the Business Case establishes the ultimate goal of the project for all stakeholdersincluding the project manager and sponsor. Apreliminary project requirements bschedule estimates ccritical assumptions and constraints dALL of THESE CHOICES see page 88. Often the business case will be approved when the benefits of proceeding with the project outweigh the costs and risks.

The business case itself should include an executive summary introduction expected outcomes risks and a conclusion. Your contact information should include your name phone number and business address or email address. Business cases are used in may organisations to seek approval for investment in a project.

Which one of the following is not a part of the business case for why companies should act in a socially responsible manner. Thorough track down all possible impacts costs and benefits Clear and logical articulate the cause and effect chain that leads to each costbenefit impact Objective unbiased including everything that is material good or bad Systematic have good models and rules for finding and summarizing values. A common way of thinking about a business case is using these five elements.

Being a projection of the future state business cases involve assumptions. There are invariably concepts in the minds of the key project participants of what they expect the project to accomplish. Information included in a formal business case could be the background of the project the expected business benefits the options considered with reasons for rejecting or carrying forward each option the expected costs of the project a gap analysis and the expected risks.

It may also include other sections such as methodology. It explains the approach and implications for the business along with the costs benefits and risks associated with the project and the impacts on key stakeholders. But it goes deeper than what this report has found.

ACost-benefit analyses bTime estimates it would take to break even cPotential impact of new project on existing business operations dMeeting schedule for stakeholders. By Paul Ramsay on 02022016 1030. Describe how the world will look tomorrow when the proposed change is implemented.

And Step 5 Managing the Investment which occurs during Phase 3. Most important however is an objective analysis of the positive and negative outcomes of the decision itself. To judge whether the case is reasonable you must be able to judge whether the assumptions are reasonable.

It contains all the information necessary for executives to make a decision. A business case is developed during the early stages of a project and outlines the why what how and who necessary to decide if it is worthwhile continuing a project. A subject line is used when sending a business letter via email.

Aincrease profits bSUPPORT BUSINESS OBJECTIVES cimprove product quality dgain customer loyalty see page 87 A business case often includes which of the following. A Business Case document contains the following EXCEPT. The commercial case the proposed solution is attractive to the market place can be procured on.

In this Blab we address the question What is the purpose of a business case and when would you use. The features of a project business case will often include the following elements. The business need for the project.

What options were considered before this course of action undertaking the project was adopted. One of the first things you need to know when starting a new project are the benefits of the proposed business change and how to communicate those benefits to the business. Derived from the sourcing strategy and procurement strategy.

Describe how the world is today. The business case includes information on _____. This brief line often includes a few-word summary of the purpose of your letter.

Multiple Choice A strong commitment to socially responsible behavior reduces the risk of reputation-damaging incidents. The strategic case there is a compelling case for change that fits with the strategic objectives of the sponsoring organisation. The project objective high - level requirements and time and cost goals.

While the project proposal focuses on. Policies procedures guidelines and systems that influence a project s success. The compelling case for change.

Return on investment based on investment appraisal of options. The Five views or Cases are.

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