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Discuss methods for conducting a thorough problem analysis

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Reference no: EM133550557

Questions: select one of the topics below and discuss its importance as a consideration when writing a business case:

Problem Identification: Emphasize the significance of accurately identifying and defining the problem or opportunity that the business case addresses. Discuss methods for conducting a thorough problem analysis and explain why a clear problem statement is crucial for building a persuasive business case.

Research and Data Analysis: Discuss the importance of comprehensive research and data analysis to support the business case. Explore the types of data and information that should be gathered, such as market research, financial data, industry trends, and competitive analysis. Encourage students to discuss methods for collecting and analyzing relevant data effectively.

Cost-Benefit Analysis: Explain the concept of cost-benefit analysis and its significance in a business case. Discuss different approaches to quantifying costs and benefits, including financial metrics such as return on investment (ROI), net present value (NPV), and payback period. Explore the challenges and limitations associated with conducting a cost-benefit analysis.

Risk Assessment and Mitigation: Highlight the importance of identifying and addressing potential risks and limitations in a business case. Discuss methods for conducting a risk assessment, evaluating the severity and likelihood of risks, and developing strategies for risk mitigation. Encourage students to share examples of risks that may be relevant to different business cases.

 

Reference no: EM133550557

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