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.
There are five stages in the investment process: 1. Conceptualise (planning), 2. Prove (business case development), 3. Procure (procurement), 4. Implement (delivery), 5. Realise (investment evaluation).
Notice of up-coming training: Dealing with uncertainty in infrastructure investment delivery - incorporating real options analysis into investment management practices
Infrastructure investment in recent years has been characterised by growing uncertainty. Significant unexpected change – e.g to socio-economic, demographic and environmental factors, policy and legislative controls and technology - is increasingly impacting Government’s ability to successfully deliver investment outcomes.
Since 2011, DTF has introduced a number of step changes to its investment management practices aimed at improving government’s capability to deal with uncertainty in investment delivery. Further developing this work, DTF will release Investing under uncertainty – a real options technical supplement to the Investment Lifecycle and HVHR Guidelines in May 2018. This guidance will provide technical support for departments and agencies delivering investments in increasingly uncertain conditions.
DTF, in conjunction with ACIL Allen, is running two training sessions to support Victorian government departments implement the practices suggested in the real options technical supplement. Dates and times for the training sessions are as follows:
- 2.00pm-5.00pm Monday 28 May 2018 – for central agency (DTF and DPC) analysts.
- 9am-12pm Tuesday 29 May 2018 – for Victorian Government departmental and agency staff involved in developing business cases or delivering infrastructure investments and Investment Management Facilitators involved in shaping investment proposals for the Victorian Government.
The sessions will focus on considering uncertainty in investment appraisals and decision-making, however will address all stages of the investment lifecycle. The two sessions will cover similar content but will reflect the different foci of the two stakeholder groups.
If you are interested in attending the Dealing with uncertainty in investment delivery – Real options training, please contact Lara Morton-Cox (phone 9651 2478 or email firstname.lastname@example.org). Registrations are required by Monday 21 May 2018.