• Demonstrate insights into the development of a business case and core economic concepts and theories.
• Critically reflect on the advantages, disadvantages, and dilemmas associated with the use of particular economic concepts and theories.
• Apply the economic concepts and theories to a business case and discuss the results and implications for decision-making.

A ‘Business Case’ includes a broad assessment perspective on a course of action. It is not enough to conclude that a particular project or an investment seems to address strategic concerns. The project or investment might be too costly, provide negative economic value or embed risk beyond what is acceptable for the organization. Similarly, a project or an investment might be economically justified. Still, the project or investment could be impossible to implement or have little strategic rationale. The course ‘Developing Business Cases’ provides participants with a broad perspective on a ‘business case’ and equip them with theories, techniques and methods to develop a business case in their own organizations. The course focuses on both strategic context and feasibility concerns as well as the economic evaluation of a project or an investment. The former includes the development of several options, while the latter includes evaluation of the alternatives, reflection on risk and building scenarios.

The managerial justification of decisions thus goes beyond pure economic reasoning; that is, whether a specific initiative for instance reduces costs, increases revenue or both. In addition, numerous initiatives in organizations do not necessarily rest upon evaluation of economic value. Similarly, undertakings that for instance support social responsibility or a green agenda might definitely look at a broader picture. Thus, the course ‘Developing Business Cases’ addresses a comprehensive justification, which includes reflection about whether a project or an investment underpins the present strategy and deals with core strategic issues. Justification also implies whether a project or an investment is feasible to implement as well as an assessment of whether it is acceptable to all stakeholders.