Needs Assessment and Business Case Development Flashcards
6 cards from real Certified Business Analysis Professional practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Needs Assessment and Business Case Development flashcards as text
Which financial metric measures the time required for a solution's benefits to recover its initial investment?
Answer: Payback Period
Payback period calculates how long it takes for cumulative benefits to equal the initial investment, indicating how quickly the investment is recovered.
What does 'SMART' stand for in the context of defining business objectives?
Answer: Specific, Measurable, Achievable, Relevant, Time-bound
SMART objectives are Specific, Measurable, Achievable, Relevant, and Time-bound, ensuring goals are clear and evaluable.
Which of the following is the MOST important characteristic of a well-written business case?
Answer: It clearly links the proposed solution to measurable business benefits
A strong business case clearly connects the proposed solution to specific, measurable business benefits that justify the investment.
A company wants to improve customer satisfaction by 20% within one year. What type of requirement does this represent?
Answer: Business requirement
A business requirement defines a high-level outcome or goal the organization wants to achieve, such as improving customer satisfaction by 20%.
What is the purpose of an 'alternatives analysis' in a business case?
Answer: To compare multiple solution options and justify the recommended approach
Alternatives analysis compares different solution options on criteria like cost, risk, and feasibility to justify why the recommended solution is the best choice.
Which technique helps identify external factors that could affect the success of a proposed solution?
Answer: PESTLE Analysis
PESTLE analysis examines Political, Economic, Social, Technological, Legal, and Environmental external factors that could impact the solution.