What does the economic case of the FBC evaluate?

The economic case of the FBC (Five Case Model) primarily focuses on assessing the value for money and the economic viability of the proposed project. In this context, evaluating tenders is a significant component, as it involves analyzing the financial proposals submitted by bidders to determine which one offers the best return on investment relative to the expected benefits and costs associated with the project.

The economic case ensures that the options considered not only align with the strategic objectives but also demonstrate that the budget allocated will deliver the desired outcomes efficiently. It encompasses a broader financial analysis that includes potential costs, benefits, and any financial risks, ultimately leading to making informed decisions about which tender represents the most favorable economic option.

The other aspects, such as long-listed options, project risks, and strategic fit, are important but pertain to different areas of the business case framework. Long-listed options focus on identifying feasible alternatives, project risks pertain to the uncertainties that may affect the project's success, and strategic fit evaluates how well the project aligns with the organization’s goals. While these are relevant considerations, the economic case specifically zeroes in on assessing tenders to ascertain cost-effectiveness and overall economic justification.