Difficulty: Easy

Average Score: 93%

A business manager wants to start a project to launch a new product and submits a business code to the Portfolio Steering Committee for review. The connection is provided with the expected business value of the project.

How can the manager document the business value for the Portfolio Steering Committee?

Rationale

Create a presentation outlining the business benefits of the new product.

A presentation serves as an effective tool for clearly communicating the business value of a new product to the Portfolio Steering Committee. It allows the manager to highlight key benefits, align the project with strategic goals, and engage stakeholders through visual and structured content.

A (Brocade a market study for similar products and demonstrate a market need.) YOUR ANSWER

This option simply restates the scenario without providing a method for documenting or presenting the business value. It lacks actionable content that the committee can use to assess the project's merits.

B (Conduct a feasibility study to determine the business impact of the new product.) YOUR ANSWER

While a market study can provide useful insights into potential demand and competition, it does not directly document the specific business value of the new product itself. It focuses more on external validation rather than outlining the internal benefits and alignment with business objectives.

C (Create a presentation outlining the business benefits of the new product.) CORRECT

A feasibility study evaluates whether the project can be successfully executed but does not necessarily document the anticipated business value in a compelling manner. It assesses viability rather than highlighting the direct benefits to the organization.

E () YOUR ANSWER

A benefit management plan is a valuable document for tracking benefits over time but may not effectively communicate the immediate business value to the Portfolio Steering Committee. It is more focused on ongoing benefit realization rather than presenting the case for the project at its inception.

Conclusion

To effectively document the business value for the Portfolio Steering Committee, a presentation outlining the business benefits of the new product is the most suitable approach. This method provides a clear and engaging format to convey how the project aligns with strategic objectives and delivers value, facilitating informed decision-making by stakeholders.

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