Summary: Investment lifecycle and high value/high risk guidelines The lifecycle guidelines are set out in five key stages. Each stage has its own guideline that will step you through the relevant processes. Stage 0: Long-term planning ◄ ► Conceptualise Prove Procure Implement Realise Confirm the need Recommend an investment Award a contract Deliver the solution Deliver the benefits Establish a clear need, Explore project options Finalse procurement Implement solution and Measure the success of define likely benefits and and esimate costs to plan, specify transtion to normal the investment explore interventions validate value for money requirements, engage business aim and solution viability and market and award a contract Your Carry out research Revist Stage 1 address Set up quarterly reporting Commence Scope review – outstanding issues framework implementation Identify and characterise Determine methodology problem Conduct value for money Prefer RFT Deliver stages as planned Identify majori issues and analysis of the project Define benefits Go to market Manage scope, risk, time, findings options quality, cost Asset response options Evaluate responses Determine extent of Build deliverability case Steps Manage stakeholders benefit delivery Set out indicative Negotiate contract for solution response Update full business case Capture lessons learnt Award contract Update full business case What is the problem, Is there a compelling What is the preferred Is the investment Are the benefits being issue or service need? case for investing? delivery option? proceeding as planned? delivered? What are the benefits Can the project really be Is the investment logic What benefits were from addressing the delivered as planned? still sound? delivered? problem? questions What lessons were What is the best strategy learnt? Key to address it? Strategic assessment Full business case Expressions of interest Project status reports Project wrap-up report (nonHigh Risk) Investment business plan Request for tender Corrective action Investment evaluation Preliminary business report Contract case (if High Project status reports Outputs Risk if required Gate 1: Concept and Gate 2: Full business Gate 3: Readiness for Gate 5: Readiness for Gate 6: Benefits feasibility case market service realisation Gate 4: Tender decision Gateway Government filtering Government funding Government Government Government approval monitoring evaluation
Summary: Investment lifecycle and high value/high risk guidelines The lifecycle guidelines are set out in five key stages. Each stage has its own guideline that will step you through the relevant processes. ◄ Stage 0: Long-term planning ► Conceptualise Prove Procure Implement Realise Confirm the need Recommend an investment Award a contract Deliver the solution Deliver the benefits Your aim Establish a clear need, define likely benefits and explore interventions Explore project options and esimate costs to validate value for money and solution viability Finalse procurement plan, specify requirements, engage and market and award a contract Implement solution and transtion to normal business Measure the success of the investment Steps Carry out research Identify and characterise problem Define benefits Asset response options Set out indicative response Revist Stage 1 – address outstanding issues Conduct value for money analysis of the project options Build deliverability case for solution Set up quarterly reporting framework Prefer RFT Go to market Evaluate responses Negotiate contract Award contract Update full business case Commence implementation Deliver stages as planned Manage scope, risk, time, quality, cost Manage stakeholders Update full business case Scope review Determine methodology Identify majori issues and findings Determine extent of benefit delivery Capture lessons learnt Key questions What is the problem, issue or service need? What are the benefits from addressing the problem? What is the best strategy to address it? Is there a compelling case for investing? Can the project really be delivered as planned? What is the preferred delivery option? Is the investment proceeding as planned? Is the investment logic still sound? Are the benefits being delivered? What benefits were delivered? What lessons were learnt? Outputs Strategic assessment (nonHigh Risk) Preliminary business case (if High Risk if required Full business case Investment business plan Expressions of interest Request for tender Contract Project status reports Project status reports Corrective action Project wrap-up report Investment evaluation report Gateway Gate 1: Concept and feasibility Gate 2: Full business case Gate 3: Readiness for market Gate 4: Tender decision Gate 5: Readiness for service Gate 6: Benefits realisation Government filtering Government funding Government approval Government monitoring Government evaluation
Investment%20Lifecycle%20Guidelines%20Overview%20-%202017%20update_0.DOCX