Scalability and skills Process outline based on size of investment By now, investors and project management teams should have a clear understanding of the five investment guideline documents and the questions they raise. You should also have a better understanding of the investment risk, size and cost. The assessment matrix (Table 4) allows investment team members to plot the investment’s cost and risk against the lifecycle and identify the work that needs to be done. The extent of uncertainty about risk or other issues should be made clear. Complexity/ Small/simple and Medium and Complex and high and/or cost low risk medium risk high risk Conceptualise Conduct research Conduct research Conduct research Submit strategic Submit strategic Develop preliminary business case assessment assessment Gate 1 review occurs Submit preliminary business case, if required. Prove Revisit strategic Revisit strategic Revisit preliminary business case, assessment, assessment, validating validating its continuing accuracy validating its its continuing accuracy Build evidence continuing accuracy Build evidence Gate 2 review occurs Build evidence Submit full business Submit full business case to Submit full business case government for funding consideration case Procure Develop procurement Develop procurement Develop procurement strategy strategy strategy Gate 3 review occurs Submit project status Tendering decision Submit tender documentation to the reports delivered Treasurer for robustness assessment Submit project status in line with Project Assurance Plan reports Gate 4 review occurs Tendering decision delivered Submit project status reports Implement Develop project Develop project Develop project management management management framework and investment review framework framework and conduct Produce project status reports investment review. Submit project status Gate 5 review occurs reports Submit project status reports Realise Produce benefit Produce benefit Produce benefit realisation reports realisation reports* realisation reports Gate 6 review occurs Submit Gate 6 review report to the Government Table 4: Assessment process based on size and complexity of investment Note: This matrix is a guide to resources and requirements for projects of varying types, scale, complexity and risks. It is important to recognise that a small project for one department may constitute a large project for another; consequently,
Scalability and skills Process outline based on size of investment By now, investors and project management teams should have a clear understanding of the five investment guideline documents and the questions they raise. You should also have a better understanding of the investment risk, size and cost. The assessment matrix (Table 4) allows investment team members to plot the investment’s cost and risk against the lifecycle and identify the work that needs to be done. The extent of uncertainty about risk or other issues should be made clear. Complexity/ cost Small/simple and low risk Medium and medium risk Complex and high and/or high risk Conceptualise Conduct research Submit strategic assessment Conduct research Submit strategic assessment Conduct research Develop preliminary business case Gate 1 review occurs Submit preliminary business case, if required. Prove Revisit strategic assessment, validating its continuing accuracy Build evidence Submit full business case Revisit strategic assessment, validating its continuing accuracy Build evidence Submit full business case Revisit preliminary business case, validating its continuing accuracy Build evidence Gate 2 review occurs Submit full business case to government for funding consideration Procure Develop procurement strategy Submit project status reports Develop procurement strategy Tendering decision delivered Submit project status reports Develop procurement strategy Gate 3 review occurs Submit tender documentation to the Treasurer for robustness assessment in line with Project Assurance Plan Gate 4 review occurs Tendering decision delivered Submit project status reports Implement Develop project management framework Submit project status reports Develop project management framework and conduct investment review. Submit project status reports Develop project management framework and investment review Produce project status reports Gate 5 review occurs Realise Produce benefit realisation reports* Produce benefit realisation reports Produce benefit realisation reports Gate 6 review occurs Submit Gate 6 review report to the Government Table 4: Assessment process based on size and complexity of investment Note: This matrix is a guide to resources and requirements for projects of varying types, scale, complexity and risks. It is important to recognise that a small project for one department may constitute a large project for another; consequently,
Investment%20Lifecycle%20Guidelines%20Overview%20-%202017%20update_0.DOCX