Question

why do you need to develop a business case for a new social monitoring technology?

• its an important skill for professionals to be able to analyze and communicate the return on investment expected from their requested budget.
• so that after the investment is made, you can go back and see whether it has lived up to expectations.
• to clearly outline the expected value gained from a software investment and set the expectation with your manager of how youll realize that value.
• social monitoring technology is particularly expensive and difficult to determine a return on investment.

Explanation:

🆕 New Concept Discovered: Business Case Development
Justifying investments by linking costs to expected value.

Step 1: Understand the purpose of a business case

A business case is a justification document used in professional settings. Its primary purpose is to explain to decision-makers (like managers or executives) why an investment is worth making. It does this by clearly outlining the expected value or benefits of the technology and setting a clear plan for how those benefits will be achieved.

Step 2: Evaluate the given options

• Option 1: "It's an important skill for professionals..." — While true, this describes a personal career benefit rather than the primary business reason for creating the document.
• Option 2: "So that after the investment is made, you can go back..." — This describes post-investment evaluation, which is a secondary benefit, not the main reason for developing the case beforehand.
• Option 3: "To clearly outline the expected value gained from a software investment and set the expectation with your manager of how you'll realize that value." — This directly addresses the core purpose of a business case: aligning expectations on value and implementation with management to secure approval.
• Option 4: "Social monitoring technology is particularly expensive..." — This is a generalization that is not universally true and does not explain why a business case is needed.

Answer:

To clearly outline the expected value gained from a software investment and set the expectation with your manager of how you'll realize that value.