FREE Business Case Writing MCQ Questions and Answers
What is the purpose of an executive summary in a business case?
The purpose of an executive summary in a business case is to provide a brief overview of the contents and hook the reader's interest. It is a concise summary of the key points and highlights of the business case, designed to quickly capture the attention of busy stakeholders and decision-makers.
What is the purpose of an implementation plan for a project?
The purpose of an implementation plan for a project is to discuss how the project will be executed and to track metrics to measure success. An implementation plan provides a detailed roadmap for executing the project, outlining the specific activities, tasks, resources, and timelines required for successful project completion. It serves as a guide for project teams and stakeholders, ensuring that everyone is aligned on the project's execution strategy and objectives.
What is the first section called in a business case?
In a business case, the first section that typically addresses the problem or opportunity being addressed is commonly referred to as the "Problem Statement" or "Executive Summary."
What should be your approach while working on different documents that form a business case?
Focusing on one document at a time and keeping your notes organized is a recommended approach when working on different documents that form a business case. This approach helps maintain clarity, structure, and efficiency throughout the process.
When should the problem statement section be written?
By writing the problem statement first, you establish the purpose and context of the business case, enabling a logical flow and ensuring that subsequent sections are aligned with addressing the identified problem.
What are the components of a business case?
These components collectively form the core elements of a business case. They help stakeholders and decision-makers evaluate the viability, feasibility, and potential value of the project. By addressing these components in a comprehensive and persuasive manner, a business case provides a compelling argument and supports informed decision-making regarding the project's approval and implementation.
What is the first step in developing a business case?
Research is typically the first step in developing a business case. Before proceeding with the development of a business case it is crucial to gather relevant information and data through research to ensure that the case is well-informed and supported by evidence. Research helps provide a solid foundation for the subsequent sections of the business case and enables a thorough analysis of the project or initiative being proposed.