Business Case Writing Cheat Sheet 2026

The 30 highest-yield Business Case Writing facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which of the following should an executive summary of a business case include? → The problem, proposed solution, key benefits, costs, and recommendation
2. What tone is most appropriate for an executive summary in a business case? → Clear, concise, and professional with an action-oriented focus
3. A business case should include a risk-adjusted NPV because: → It reflects the impact of uncertainty on expected financial outcomes
4. A RACI chart in business case stakeholder planning stands for: → Responsible, Accountable, Consulted, Informed
5. Which of the following best describes 'active listening' in a stakeholder engagement session for a business case? → Fully concentrating, understanding, and responding to what the stakeholder says
6. Positive messaging in the business should: → Focus on what can be done instead of what can’t be done.
7. What is the first step in developing a business case? → Research
8. Which risk response strategy involves shifting the financial impact of a risk to a third party? → Transfer
9. The 'lessons learned' reference in a business case typically comes from: → Previous similar initiatives within or outside the organization
10. Which cost category is typically excluded from a business case CBA because it remains constant regardless of the decision? → Fixed overhead costs that don't change with the decision
11. In a business case risk register, risks are typically evaluated based on: → Probability of occurrence and potential impact
12. Which discount rate is most commonly used in US corporate business cases to reflect the minimum acceptable return? → Weighted Average Cost of Capital (WACC)
13. A 'two-page brief' version of a business case is most useful for: → Initial executive buy-in or quick leadership alignment
14. Which approach is recommended in US federal CBAs for valuing the statistical value of a human life? → Value of a Statistical Life (VSL), as published by relevant agencies
15. Which component specifies measurable targets that define success for a business case investment? → Key Performance Indicators (KPIs) and success criteria
16. A 'logic model' in a business case visually maps the relationship between: → Inputs, activities, outputs, and outcomes of the proposed initiative
17. In business case stakeholder analysis, a 'high power, low interest' stakeholder should be: → Kept satisfied
18. A risk contingency budget in a business case is designed to: → Provide financial reserves to address identified risks if they occur
19. What is the most critical mistake to avoid when writing an executive summary? → Making it longer than necessary or including information not in the main document
20. Which section of a business case explicitly identifies who has final approval authority? → Governance and decision-making section
21. A 'secondary risk' in a business case arises when: → A risk response itself introduces a new risk
22. In US public sector cost-benefit analyses, the social discount rate used by federal agencies is typically determined by: → OMB Circular A-94 guidelines
23. A project charter differs from a business case in that the project charter: → Formally authorizes the project to begin after approval of the business case
24. For a US capital investment business case, which financial metrics should be prioritized in the executive summary? → Internal Rate of Return (IRR), Net Present Value (NPV), and payback period
25. Which CBA technique is most appropriate when benefits are difficult to monetize but can be clearly defined? → Cost-effectiveness analysis
26. A well-structured business case executive summary should be written: → Last, after all sections are complete, to accurately reflect the full document
27. In business case risk analysis, 'expected monetary value' (EMV) is calculated as: → Probability of risk × monetary impact of risk
28. Which section of a business case typically documents the assumptions made and their associated risks? → Assumptions and constraints section
29. A 'sensitivity table' in a business case CBA displays how the NPV changes when: → Two key variables are simultaneously varied
30. What is a business case? → A document that outlines the rationale for a project