Business Case Flashcards
How to establish business case
Identify opportunities / problems
Understand the market and competition.
Define what you want to achieve.
Check Feasibility
Explore Alternatives: Look at different ways to solve it.
Calculate costs and potential gains.
Assess Risks
Consider Stakeholders: Know who’s affected and how.
Document Everything
Get Approval
Monitor progress and adjust as needed.
What is Cost Implication ?
the financial consequences or impacts of a decision, action, or event.
Advantages of Cost Implications
Budget Control
efficient use of resources.
Facilitates informed decision-making
Identifies potential financial risks and allows for mitigation
Disadvantages of Cost Implication
Discourage innovative ideas due to strict cost constraints.
Inflexibility in adapting to changing circumstances
Sacrificing quality to reduce costs.
