Business Cases Business Project Showcase

Question: Describe about the Business Cases for Business Project Showcase. Answer: Significance of Business Case A business case justifies how a project is aligned with the strategies of a business. It has been found that majority of projects fail because of lack of business case of wrong scope and requirement definitions identified in the business case. Such a case may be prepared for all the potential projects such that it can help in making selection of a project. The process of selection would involve assessment and comparison between different projects on the basis of costs, benefits, risks and capabilities(Nelson, 2005). There are various project selection methods available such as: Benefit measurement method in which cost benefits are compared considering present values of cash flows generated by various projects. Benefit/Cost Ratio makes comparison on the basis of ratio of inflow and outflow Economic Model uses Economic Value Addition as the performance measurement for comparison(Kendrick Saaty, 2007). Scoring model involves listing of selection criteria that are weighed according to the importance and priorities. Payback period is a ratio total to average per period cash such that the project with shortest cash back period is selected( Bentley Systems, Incorporated, 2013). Bibliography Bentley Systems, Incorporated, 2013. THE BUILDING PROJECT SHOWCASE, Exton, PA: Bentley Systems. Kendrick, J. D. Saaty, D., 2007. Use Analytic Hierarchy Process For Project Selection, s.l.: Decision Lens Inc.. Nelson, R. R., 2005. PROJECT RETROSPECTIVES:EVALUATING PROJECT SUCCESS,FAILURE, AND EVERYTHING IN BETWEEN , s.l.: University of Virginia .