1. Problem Definition Workshop
Successful investments are a considered reaction to an identified or emerging problem. This workshop focuses on:
- defining the problem that needs to be addressed;
- validating that the problem is real; and
- specifying the benefits that will result from addressing the problem.
The output of this workshop is the first version of an Investment Logic Map (ILM) with the problems and benefits defined.
The Investment Logic Map – Initiative is for single investments
The Investment Logic Map – Program is for a program of new investments. Examples are currently under development and will be published shortly.
The Investment Logic Map – Organisational is for single investments. Examples are currently under development and will be published shortly.
2. Benefit Definition Workshop
Investments are often shaped with little understanding of the benefits expected to be produced. This workshop will:
- identify the KPIs and measures and potentially targets and timelines that the investment will need to deliver; and
- specify how the delivery of the benefits will be measured and reported.
The output of this workshop is a Benefit Management Plan (BMP) made up of a Benefit Map and Benefit Profile.
The Benefit Map
The Benefit Management Plan
Benefits Definition Checklist
3. Response Definition Workshop
Business cases for new investments often fail to consider the full range of things that Government can do to address the identified problem. This workshop will:
- explore the interventions that could deliver the expected benefits and KPIs;
- formulate and evaluate a mix of response options;
- consider interventions and options that focus on managing demand, improving productivity as well as changing supply; and
- assess response options and select the preferred response for the expected future state.
The output of this workshop is a Response Options Analysis Report (ROAR).
The Response Options Analysis Report
4. Solution Definition Workshop
This workshop ensures that attendees develop a solution that is consistent with the foundations established in previous workshops. This workshop will:
- confirm the preferred response (following cost and timeframe assessment) and the interventions it contains;
- identify and evaluate the changes and assets that are required to implement the preferred response and deliver the benefits;
- define a recommended solution for the expected future state;
- confirm the circumstances (change in condition or an event) where the preferred response may be inadequate or inappropriate, and the triggers requiring a change in response;
- identify cost range, timeframe for project and benefit delivery, key risks and uncertainties, dis-benefits and critical interdependencies associated with the recommended solution; and
- consider any policy levers and policies that may impact this solution and identify any action or areas to investigate further as the project progresses.
The output of this workshop is an Investment Concept Brief (ICB).
The Investment Concept Brief