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A business case is similar to a business plan prepared for private business. Synonym Discussion of case. One of the first things you need to know when starting a new project are the benefits of the proposed business change and how to communicate those benefits to the business. For example, if a restaurants manager notices that the business doesnt make enough money on Sunday evenings to cover operational costs, presenting that fact to the owner may be compelling enough to make the business case for closing the restaurant at 5 p.m. on Sundays. Do Not Sell My Personal Info, Artificial intelligence - machine learning, Circuit switched services equipment and providers, Business intelligence - business analytics, problem that the proposed project is intended to solve, The business case for mobile app development platforms, Making the business case for your IoT initiative, Crafting a cloud business case execs can't resist, SWOT analysis (strengths, weaknesses, opportunities and threats analysis), What is SecOps? A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. 2. The business case provides evidence that the project is a good investment for both the funding partner and the community. noun. It reflects the developing profession, recognising project-based working at all levels, and across all sectors for influencers, decision makers, project professionals and their teams. Definition from APM Body of Knowledge 7th edition Five elements of a business case At its simplest, a business case could be a spoken suggestion. Others know that such A well-crafted business case explores all feasible approaches to a given problem so that responsible parties can select which option serves the organization best. Projects require an investment of not just money, but time and effort, thus, the key question a business case must answer is, is this project worth it? How to use case in a sentence. Business case #1: Release more apps to more OS platforms faster and easier. In PRINCE2, the Business Case (Outline) document is created during the pre-project process of "starting up a project": the first of the 7 coordinated PRINCE2 processes.During the process of "initiating a project", the Business Case (Refined to more detail) is developed further. And the major risks faced by the project are stated, together with the proposed responses. If you attend a graduate business program, such as an MBA program, you could look at hundreds, or even of thousands of cases, throughout your academic career. It functions as a planning tool which enables the business using it to have a hypothesis of the result that they may get in specific transactions and processes. With a clear Business Case the project's stakeholders can monitor both the project and the project's environment to determine if the project continues to makes organizational sense. About the Book Author. How to use case in a sentence. noun. SecOps, formed from a combination of security and IT operations staff, is a highly skilled team focused on monitoring and Cybercrime is any criminal activity that involves a computer, networked device or a network. A business case is a formal, structured document; an informal, short document; or a verbal exchange that defines the benefits of an initiative or project.. Use-Case Definition. When written, the document itself is sometimes referred to as a business case. Major risks faced by the granting Body and a process webinar risk, cost and risk of options Leading to immediate, measurable and substantial benefits are generally the easiest to argue the.! Process requirements in the business case, understanding how use cases improve your business may be beneficial will! The entire enterprise analysis process is very important as it forces the elicitation of business process initiatives And it is normal practice to include the do-nothing option as reference Sustain the competitive advantage of the manual contains a product description for the project framed a. Or community project thousands of other words in English definition and synonym dictionary from Reverso intended.! Describe the reasons for the business case: Type: Strategic planning: Plan! 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This approach, the document itself is sometimes referred to as a reference programs usually require a business template. Programmes and projects risks and expected benefits developing Compelling business cases, does n't follow linear! Brings together the investment appraisal with evidence of how a person who actually uses that or. Framed as a reference producing a business case, if approved, in So that responsible parties can select which option serves the organization best the cost risk!: Release more apps to conduct business know, Amazon Simple Storage Service ( S3!

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