Victorian Government users are encouraged to use the IMS when considering an investment.
The IMS practices can be applied to any investment, whatever its type, complexity or cost, and are aligned with the Victorian Department of Treasury and Finance Investment Lifecycle and High Value / High Risk (HVHR) framework, business case guidelines and templates.
Further information about the IMS practices can be found in the Departmental Users Guide (DOCX 1.58mb)
16 Questions – The Investment Decision-Maker’s Checklist
What are the prime questions that any decision-maker should have answered before funding an investment?
The Investment Decision-Maker’s Checklist is a set of 16 Questions which address the four IMS elements – problem, benefits, response and solution. These questions can be asked, in part or in their entirety, at various stages in the investment management process to test the robustness of the IMS workshop document suite.
The questions correlate with key elements of the Victorian government full business case template and can also be a useful resource for business case writers and assessors.
16 Questions The Investment Decision Maker's Checklist (PPTX 102kb)
Initiative, program or organisational level ILM?
When deciding whether an initiative level or program level ILM is appropriate for a particular investment, the Investor needs to consider whether the outputs will inform any of the following practices:
This guidance can help determine which ILM to use. Guidance is currently under development and will be published shortly.
How many workshops?
The number of workshops will between one and four, depending on the size and complexity of the potential investment. This guidance helps you to determine how many workshops you will require.
IMS Guidance - How Many Workshops (DOCX 57kb)
Booking a facilitator
DTF strongly recommends that departments engage an accredited IMS facilitator to conduct workshops. Further information on booking a facilitator can be found here.
Investor feedback form
How effective was the facilitator? Their capabilities are key to having an intelligent facilitated discussion during the workshops, and producing quality outputs. Use the ILM Investor Feedback form (DOCX 52kb) to provide feedback.