FREE BABOK Business Cases Questions and Answers
What is the primary purpose of a business case in business analysis?
A business case is used to justify the initiation of a project by outlining the benefits, costs, and risks, and demonstrating the value it will bring to the organization.
Which of the following elements is typically included in a business case?
A business case typically includes a cost-benefit analysis to compare the financial benefits and costs associated with the proposed project or solution.
When developing a business case, what is the importance of identifying stakeholders?
Identifying stakeholders is crucial for understanding and addressing their needs and expectations, ensuring that the business case aligns with their interests and gains their support.
In the context of a business case, what is a "feasibility analysis" used to assess?
A feasibility analysis assesses the technical, operational, and financial viability of the project to ensure that it is practical and achievable.
What role does risk analysis play in a business case?
Risk analysis identifies potential challenges and their impact on the project, helping to develop mitigation strategies and ensure the project's success.