Concept: Business Case

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  • Created by: Annagc
  • Created on: 20-03-24 14:36
What is a business case?
'A business case provides justification for undertaking a project, programme or portfolio. It evaluates the benefit, cost and risk of alternative options and provides a rationale for the preferred solution.'
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Who owns and is accountable for the business case?
The project sponsor
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Who writes the business case?
The project manager along with other subject matter experts (SME's)
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What are the 6 areas of content of a business case?
Strategic case, options appraisal, benefits, costs, risk, timescales
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What is the 5 case model of a business case?
Strategic, economic, commercial, financial, management
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What is the strategic dimension?
The case for change, why the organisation needs the project.
Outline investment objectives inc. benefits, risks, constraints and dependencies and how to manage them, and how to apply lessons learned
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What is the economic dimension?
The return on investment
Investment appraisal options inc. options analysis (also may inc. sensitivity analysis to identify when costs will outweigh the cost-savings solution provided)
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What is the commercial dimension?
Is the project achievable and attractive to the market place, created from the sourcing and procurement strategies
Outline the opportunity to the market and the procurement arrangements that you need, confirm that you can deliver through a workable comme
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What is the financial dimension?
How affordable the project is
Think about lifespan of the scheme and the attributable costs include capital and resource costs along with how you'll finance any time and cost overruns
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What is the management dimension?
Roles, governance structure, life cycle choice and deliverability
Set out a high level plan for delivery with clear milestones, include stakeholder engagement and timings of reviews and benefits realisation plan, define high level risks and how to manage
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What happens in the concept phase?
You write the business case
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What happens in the deployment phase?
You use the business case to analyse a change request
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What happens in the transition phase?
The sponsor assesses whether you've delivered the project in like with the success criteria in the business case
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What happens during the benefits realisation phase?
The sponsor does a formal review of the benefits in the business case to make sure the benefits are being realised
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Other cards in this set

Card 2

Front

Who owns and is accountable for the business case?

Back

The project sponsor

Card 3

Front

Who writes the business case?

Back

Preview of the front of card 3

Card 4

Front

What are the 6 areas of content of a business case?

Back

Preview of the front of card 4

Card 5

Front

What is the 5 case model of a business case?

Back

Preview of the front of card 5
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