Certified: The ISACA CISA Prepcast

Welcome to The Bare Metal Cyber CISA Prepcast. This series helps you prepare for the exam with focused explanations and practical context.
A business case is the foundation of any well-governed IT project because it justifies why the investment is necessary, how it aligns with the organization’s strategic objectives, and what outcomes are expected. It provides the rationale for funding, defines the return on investment, and ensures that accountability for value delivery is built into the project from the start. Without a solid business case, projects may receive approval without clear direction, measurable benefits, or a full understanding of cost and risk. Governance boards rely on business cases to compare priorities and allocate resources wisely. For CISA candidates, the ability to evaluate whether a business case is complete, risk-aware, and aligned with enterprise goals is critical, and the exam often includes questions that assess whether justification, approval, or alignment processes were followed properly.
A complete business case typically includes several essential components, starting with an executive summary and a clear statement of the problem or opportunity the project is meant to address. This is followed by a detailed description of the proposed solution, including functional scope, system features, and high-level architecture. Financial estimates should cover both capital costs—like hardware, software, and setup—and operational costs, such as maintenance, training, and support, throughout the system's lifecycle. Projected benefits should include financial gains like cost savings or revenue growth, as well as non-financial benefits like compliance readiness, process efficiency, or customer satisfaction. The business case must also contain a realistic risk analysis and document any assumptions that could affect the accuracy of forecasts. CISA candidates are often tested on whether these elements are present and valid, especially in scenarios where business case weaknesses lead to downstream project failure or control breakdowns.
Feasibility analysis is the process of determining whether a proposed solution is viable across multiple dimensions, and it plays a critical role in evaluating a project’s risk and likelihood of success. Technical feasibility asks whether the organization has—or can obtain—the infrastructure and expertise needed to implement the solution. Operational feasibility considers whether users, processes, and organizational culture can support the proposed change. Economic feasibility compares the expected return on investment to the estimated costs, helping determine whether the business case is financially sound. Legal and regulatory feasibility ensures that proposed features do not violate data protection, security, or industry-specific compliance requirements. Auditors assess whether these feasibility evaluations were conducted thoroughly and documented properly. On the CISA exam, you may encounter scenarios where technical or legal feasibility was ignored or where feasibility was claimed without evidence.
Financial evaluation methods are used to determine whether a proposed investment is worth pursuing, and auditors must be able to evaluate whether those methods are used correctly. Net Present Value, or NPV, calculates the current value of future cash flows, while Internal Rate of Return, or IRR, identifies the interest rate at which benefits outweigh costs. Payback period shows how long it takes to recover the investment, and Total Cost of Ownership includes all costs over the system’s life. Sensitivity analysis tests how the outcome changes when input assumptions vary—especially useful when cost or benefit estimates are uncertain. Cost-benefit analysis may include both quantified and qualitative factors, such as productivity gains or risk reduction. The CISA exam often includes questions that test your understanding of these financial methods and whether investment decisions were based on sound financial reasoning.
A strong business case includes a well-developed risk assessment section that identifies potential threats to budget, schedule, system quality, and user adoption. This risk review should also consider external factors such as regulatory changes, market shifts, and vendor stability. Each identified risk should be rated for likelihood and impact, and scenario analysis should be used to project how each risk could affect project outcomes. Risk mitigation strategies must be proposed—such as additional testing, phased rollouts, or alternative suppliers—and contingency plans should be in place in case mitigation fails. Auditors evaluate whether the risk section is realistic, whether ownership is assigned, and whether the risk analysis influenced the go or no-go decision. In the CISA exam, expect to be tested on whether risk assessments are missing, superficial, or disconnected from the broader case and planning.
Stakeholder engagement is a critical part of business case development because it ensures that the proposed solution is viable, aligned, and supported by the people who will be responsible for its success. Input should come from a cross-section of the organization, including finance, legal, IT, cybersecurity, compliance, and the business units that will use or support the new system. Their input must be documented, and conflicting views—especially if dissent exists—should be noted and addressed. Approval workflows must show who signed off and when, and the business case should outline stakeholder roles during implementation, such as testing, training, or operational support. Auditors frequently identify missing stakeholder involvement as a root cause of project misalignment, failed adoption, or budget surprises. On the CISA exam, be ready to recognize when stakeholder input was neglected or only gathered after critical decisions were already made.
Alternatives analysis is a core component of any business case and should clearly demonstrate that the chosen solution was selected after evaluating at least one other viable option. Alternatives might include building a custom solution in-house versus buying a commercial product, hosting internally versus using a cloud platform, or outsourcing versus using internal resources. A fair and objective evaluation should be documented using weighted scoring models or selection matrices that consider functionality, risk, cost, and strategic fit. The rationale for selecting one option over another must be explained, particularly when the selected solution is not the cheapest. Auditors review whether alternatives were genuinely considered or whether the business case simply supports a preselected outcome. The CISA exam often presents case scenarios where selection bias or insufficient analysis leads to flawed decisions, and you’ll be asked to spot weaknesses in the alternatives review process.
Once the business case is complete, it must go through a structured review and approval process, typically governed by a committee such as the IT steering board, project portfolio council, or investment committee. Review checklists help confirm that all critical sections—scope, cost, benefits, risks, and stakeholder input—are present and accurate. Revisions must be documented and traceable to the version approved, with a clear audit trail of decisions and reviewer comments. If the case is delayed significantly or the project scope changes, the business case must be revalidated to ensure continued relevance. Auditors check for evidence that only approved and justified projects move forward. CISA candidates should expect to identify missing approvals, outdated cases, or inconsistent documentation, and determine how those gaps impact project assurance and governance.
After a business case is approved and the project is implemented, the original assumptions must be tested against actual outcomes. Benefit realization is the process of comparing what the project delivered versus what the business case promised. This includes using metrics that tie directly to the case—such as cost savings, time reductions, error rates, or revenue increases—to determine whether expected value was achieved. Where results differ from projections, organizations should adjust future business case models and track lessons learned. Post-implementation tracking also helps identify ongoing costs, new risks, or emerging benefits not previously considered. Auditors verify whether these follow-up assessments are performed, whether discrepancies are addressed, and whether governance bodies are informed. The CISA exam may include questions about how benefit realization audits support future planning and how auditors evaluate whether projects delivered what was originally promised.
CISA candidates must be able to assess the completeness, accuracy, and strategic relevance of a business case from both an audit and assurance perspective. This includes knowing how to identify missing elements like feasibility analysis, financial logic, risk treatment, or stakeholder input. You’ll also be expected to determine whether documentation supports approvals, whether assumptions are validated, and whether business cases are being used as living documents that evolve with project conditions. Strong audit practices in this area help ensure that IT investments are not only well-governed but also financially and operationally justifiable. Auditors who understand the value of business case integrity contribute directly to better prioritization, smarter spending, and long-term strategic alignment. Whether in the exam or in practice, your ability to evaluate business justification strengthens both financial stewardship and IT governance.
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