developing a business case questions and answers

You've defined an opportunity and identified several viable alternatives. Which of the following is the best strategy for narrowing those options?

Eliminate elaborate, high-risk options

You must be able to express each alternative's potential impact in dollar amounts. True or false?

False

You've analyzed your alternatives for pursuing a particular business opportunity. What is the best next step?

Identify a rationale for making a decision

Which of the following is not good advice for presenting your business case to decision makers?

Include all of your calculation up front to show the depth of your analysis

Which of the following statements about the data-gathering and analysis phases of building your business case is accurate?

Much of the information you gather relies on estimates and assumptions

In which of the following situations would you prepare a business plan instead of a business case?

To plan how your business unit will change over the next 5 years to adapt to competition

When creating an implementation plan for your business case, it is generally advisable to do all of the following except?

Use specific due date for each milestone

Your colleague, Jack, has made a business case for a project that requires help from outside consultants. He received approval for the project, but the finance department never transferred money from the consultants fee to his budget, He most likely failed to:

Clearly identify the need to add money to his budget in order to implement the project

You've defined the opportunity for your business case. What is the best next step?

Consider how this opportunity could help your company meet vital business goals

Which of the following is the best definition of a business case?

A tool for identifying and considering multiple alternatives before recommending one option