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.
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 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.
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 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 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 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.