These guidelines provide practical assistance to anyone developing investment projects in Victoria. They help shape proposals, inform investment decisions, monitor project delivery and track the benefits of investments.
They emphasise the need to better align the policies, programs and projects of departments and agencies with government priorities and outline the requirements under the high value high risk process. The guidelines will help ensure government investments provide maximum benefit to Victoria.
Stage 1: Conceptualise provides structure for the initial examination of problems on the basis of their policy and strategic merit. This stage assists with the development of a strategic assessment or preliminary business case.
Stage 2: Prove builds on information developed in stage 1 to provide a detailed evaluation of the shortlisted solution options and recommend a solution for funding and implementation. This stage assists with the development of a full business case.
Stage 3: Procure finalises procurement plans, specifies tender requirements, engages the market and awards a contract.
Stage 4: Implement focuses on implementing the chosen solution and transitioning to business as usual.
Stage 5: Realise focuses on measuring the success of the investment.