Business Case Flashcards
(11 cards)
What is the purpose of the business case practice?
To establish mechanisms to judge whether a project is (and remains) desirable, viable and achievable.
What is an Output?
The tangible or intangible deliverable of an activity. In PRINCE2, outputs are the specialist products that will be used to enable change.
What is Capability?
The completed set of project outputs required to deliver an outcome.
What is an Outcome?
The result of change, normally affective real-world behaviour and circumstances. Changes are implemented to achieve outcomes, which are achieved as a result of the activities undertaken to facilitate the change.
What is a benefit?
The measurable improvement resulting from an outcome that is perceived as an advantage by the investing organisation and contributes towards one or more business objectives.
What is a disbenefit?
The measurable decline resulting from an outcome perceived as negative by the investing organisation and which detracts from one or more business objectives.
What is a business objective/s?
The measurable outcome that demonstrates progress in relation to the organisations strategy and to which the project should contribute.
What does the business case document?
Continued Business Justification for projects based on the estimated costs v estimated benefits, which are offset by associated risks and how and when the benefits can be measured.
What is the purpose?
To document the business justification for undertaking a project, based on the estimated costs against the expected benefits to be gained and offset by any associated risks. It should outline how and when the expected benefits can be measured.
What is the Benefits Management Approach?
Defines the management actions that will be put into place to ensure that the projects outcomes are achieved and to confirm that the projects benefits are realised.
What is the Sustainability Management Approach?
Ensures that actions, reviews and controls meet the sustainability performance targets.
