Comprehensive and Detailed Explanation (from CIPS L4M2 – Business Case Construction)
A business case must outline:
Added value (benefits, performance, ROI).
Financial plan (costs, funding, payback).
Contract terms and tender criteria come after the business case is approved.
Thus, 3 and 4 only are correct.
Relevant L4M2 references:
“Essential elements of a business case”
“Cost-benefit and value assessment in procurement justification”
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