APM PMQ - Section 2.1 - Business Case
Exam Questions and Answers with
Verified Solutions | Latest Updated 2026
What is a business case? Provides justification for undertaking
a project, programme or portfolio. It
evaluates the benefit, cost and risk
of alternative options and provides a
rationale for the preferred solution.
What does the business case What the project is trying to
set out for a project (high achieve, the options considered,
level)? funding and governance decisions,
the benefits of the project, expected
outcomes and an overview of
anticipated costs.
What does the business case The initiation, investment and/or
justify in PMQ terms? continuation of a project in terms of
benefits, costs and risks.
In a linear life cycle, when is It is produced during the concept
the business case produced phase and becomes the baseline for
and why does it matter? the project, setting the justification,
benefits, options, costs, risks and
alignment with strategic goals.
How does the study guide The project team assesses options
describe business case and considers them throughout the
development during concept? concept phase until there is a fully
justified and funded business case.
, What are the five elements of Strategic context, Economic
a compelling business case? analysis, Commercial approach,
Financial case, Management
approach.
What does the Strategic "Why do we need to do this?" It sets
context element answer in a out the case for change, the
business case? business need/opportunity, desired
outcomes, and alignment with
organisational objectives, policies
and strategies.
What does the Economic "What is the best way to achieve
analysis element answer in a this?" It appraises options,
business case? considering costs, benefits
(including wider economic, social
and environmental impacts) and
risks to determine best value for
money, including investment
appraisal and return on investment.
What does the Commercial "How can we best deliver this?" It
approach element answer in a shows the preferred option is
business case? commercially viable and covers
aspects such as procurement
strategy, risk allocation, contractual
arrangements and how the delivery
model will achieve outcomes.
What does the Financial case "Is it affordable?" It demonstrates
element answer in a business financial viability and affordability,
case? detailing capital and revenue costs,
funding sources, cash flow
implications and impact on financial
Exam Questions and Answers with
Verified Solutions | Latest Updated 2026
What is a business case? Provides justification for undertaking
a project, programme or portfolio. It
evaluates the benefit, cost and risk
of alternative options and provides a
rationale for the preferred solution.
What does the business case What the project is trying to
set out for a project (high achieve, the options considered,
level)? funding and governance decisions,
the benefits of the project, expected
outcomes and an overview of
anticipated costs.
What does the business case The initiation, investment and/or
justify in PMQ terms? continuation of a project in terms of
benefits, costs and risks.
In a linear life cycle, when is It is produced during the concept
the business case produced phase and becomes the baseline for
and why does it matter? the project, setting the justification,
benefits, options, costs, risks and
alignment with strategic goals.
How does the study guide The project team assesses options
describe business case and considers them throughout the
development during concept? concept phase until there is a fully
justified and funded business case.
, What are the five elements of Strategic context, Economic
a compelling business case? analysis, Commercial approach,
Financial case, Management
approach.
What does the Strategic "Why do we need to do this?" It sets
context element answer in a out the case for change, the
business case? business need/opportunity, desired
outcomes, and alignment with
organisational objectives, policies
and strategies.
What does the Economic "What is the best way to achieve
analysis element answer in a this?" It appraises options,
business case? considering costs, benefits
(including wider economic, social
and environmental impacts) and
risks to determine best value for
money, including investment
appraisal and return on investment.
What does the Commercial "How can we best deliver this?" It
approach element answer in a shows the preferred option is
business case? commercially viable and covers
aspects such as procurement
strategy, risk allocation, contractual
arrangements and how the delivery
model will achieve outcomes.
What does the Financial case "Is it affordable?" It demonstrates
element answer in a business financial viability and affordability,
case? detailing capital and revenue costs,
funding sources, cash flow
implications and impact on financial
