Business Case

Question 1

How to establish business case

Answer 1

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.

Question 2

What is Cost Implication ?

Answer 2

the financial consequences or impacts of a decision, action, or event.

Question 3

Advantages of Cost Implications

Answer 3

Budget Control

efficient use of resources.

Helps make smart decisions 🤔

Spots money risks early 💰
Allows action to reduce problems.

Question 4

Disadvantages of Cost Implication

Answer 4

Discourage innovative ideas due to tight budgets

Not flexible (hard to adapt 🔒)

Sacrificing quality to reduce costs.