What is typically evaluated during the economic case of the FBC?

The economic case of the Five Case Model (FBC) primarily focuses on assessing the preferred option for the project or program. This evaluation involves analyzing various alternatives and selecting the most viable option based on cost-effectiveness, benefits, and value for money. The aim is to demonstrate that choosing this specific option will yield the greatest economic return and adequately address the objectives set forth in the business case.

An effective economic case not only highlights the preferred option but also justifies why it stands out against other alternatives, incorporating considerations such as long-term sustainability and alignment with organizational goals. This ensures that stakeholders can make informed decisions about resource allocation and contribute to the overall success of the project.

The other aspects, like risk management strategies, stakeholder impact, and financial forecasts, are crucial for a comprehensive business case but serve different purposes within the overall framework. Risk management often defines how uncertainties are handled, stakeholder impact assesses the effects on various parties involved, and financial forecasts project future financial performance, but they are not the primary focus of the economic case itself.