CAPM Business Analysis Frameworks Practice Question
Which THREE of the following are typically included in a business case?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
Alternatives analysis
A business case includes the problem statement, cost-benefit analysis, and alternatives analysis to justify the project. Risk register and stakeholder list are separate documents that inform but are not core parts of the business case.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Stakeholder list
Why it's wrong here
A stakeholder list identifies people and their interests, but a business case centres on costs, benefits, risks and options analysis. It is tempting because stakeholder impact often justifies funding, yet that content belongs in a separate stakeholder register or communications plan, not the core financial justification document.
- ✗
Risk register
Why it's wrong here
A risk register is a separate project artefact maintained during risk management, not a standard business case component. It is tempting because risks are discussed in a business case, but the document records rationale, costs, benefits and options analysis, with detailed risk tracking held elsewhere.
- ✓
Alternatives analysis
Why this is correct
Alternatives analysis documents the other options considered and why the recommended approach was selected, demonstrating that the business case rests on comparison rather than assumption. It satisfies the stem because reviewers need assurance that no cheaper or lower-risk route was overlooked.
- ✓
Problem statement
Why this is correct
The problem statement defines the business need or opportunity the initiative addresses, anchoring every later section — costs, benefits, alternatives — to a specific, agreed issue. It satisfies the stem because a business case without a clearly articulated problem cannot justify any proposed solution.
- ✓
Cost-benefit analysis
Why this is correct
A business case must quantify the expected return against the investment, so cost-benefit analysis supplies the financial justification stakeholders use to approve, reject or prioritise the proposed initiative. Without it, the document states a need but offers no evidence that addressing it is worthwhile.
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