Developing a Business case

7. Which of the following is not good advice for presenting your business case to decision makers? a. Include all your calculations up front to show the depth of your analysis. b. Be concise so your audience focuses on the most important information. c. Tell a convincing story using descriptive language.

a. Include all your calculations up front to show the depth of your analysis.

3. You've defined an opportunity and identified several viable alternatives. Which of the following is the best strategy for narrowing those options? a. Eliminate any choices that are likely to be unpopular with a key stakeholder. b. Eliminate elaborate, high-risk options. c. Eliminate the status quo option if it seems unlikely.

b- Eliminate elaborate, high-risk options.

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 for the consultants' fees to his budget. He most likely failed to: A.Establish who would be accountable for the project and get a commitment from these individuals. b. Clearly identify the need to add money to his budget in order to implement the project. c. Choose a feasible alternative.

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

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

b. False.

Which of the following is the best definition of a business case? a. A document that presents the rationale for a decision you've made. b. A guide to how an organization will navigate through a changing business landscape. c. A tool for identifying and considering multiple alternatives before recommending one option.

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

You've defined the opportunity for your business case. What is the best next step? a. Generate a list of possible alternatives for addressing this opportunity. B. List the business objectives you think key stakeholders will likely support. c. Consider how this opportunity could help your company meet vital business goals.

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

1. When creating an implementation plan for your business case, it is generally advisable to do all of the following except ? a. Include people's names when assigning accountability for a task. b. Use specific due dates for each milestone. c. Clearly describe your milestones.

B- Use specific due dates for each milestone

You've analyzed your alternatives for pursuing a particular business opportunity. What is the best next step? a. Draft a high-level implementation plan. b. List the risks associated with each alternative. c. Identify a rationale for making a decision.

C- Identify a rationale for making a decision.

In which of the following situations would you prepare a business plan instead of a business case? a. To demonstrate the value a new product offering brings to the organization. b. To decide how to prioritize projects in your group and which ones to eliminate. c. To plan how your business unit will change over the next five years to adapt to competition.

C- To plan how your business unit will change over the next five years to adapt to competition.

Which of the following statements about the data-gathering and analysis phases of building your business case is accurate? a. Much of the information you gather relies on estimates and assumptions. b. All of the information you'll need can be gained by talking with stakeholders. c. The return on investment (ROI) should be the primary financial driver for your decision making.

A- Much of the information you gather relies on estimates and assumptions.