TIP: Use only this front page for simple projects OR for new project ideas. Use the rest of the pages for higher-value, more complex projects, or once initial idea gains support. The inputs for this page can come from the following pages. Business case on a page Project snapshot Summary: This project is abcd . Net present value $x.xxxM Non-financial benefits are Total cost $x.xxxM Initial cost estimate: <50k/$50-250k/$250k-1M/>$1M Funding source New revenue x% UNE Operating x% UNE Capital x% External grant x% External grant source is TImeframe starts .. ends Priority Attractiveness: high/medium/low because Achievability: easy/medium/difficult because Investment class & reason Mandatory/self-funding/ very attractive /attractive /attractive non-financial because Top 35 key stakeholders Name One Two Three Four Five Position Sponsor & Director etc Two Three Four Five Opportunity or problem this idea will address & rationale Describe briefly the problem/opportunity Describe the issue/need that this business case is designed to solve or resolve. This should be done because The impact of postponing the project for 12 months is This project is a compliance/risk reduction/cost saving/revenue generation/ strategy delivery project. Key objectives
Describe the future state Must be completed by a certain date because three four five Key assumptions List the assumptions underlying project success These assumptions should link to key objectives, though not necessarily one-to-one. three four five Key performance indicators to measure progress towards objectives Leading indicators Project plan approved two three four five UNE business case Lagging indicators (benefits) Growth of $x achieved Savings of $y realised by June 201X Student feedback increases from x to y by Sep 201X four five 1 Table of contents I. Executive Summary Case-on-a-page................................................................ 1 Project background........... 3 Attractiveness assessment....... Achievability assessment(includes risk) ........................... 4 5 Proposals which must have an initial case-on-a-page. Then once the initial idea gains support, a full business case is required for: CAPEX cost over $100k OPEX cost over $400k (whole-of-life) or High risk or Material strategic impact. how are these measured
2. Detail Scope & constraints........ Key stakeholders & impact ...... Alternative investment analysis...... Objectives, outcomes, and KPIs ..... Benefits & costs worksheet... Risk assessment ........ Five-year financial outlook.... Project schedule & milestones Checklist (estimates, legal etc) UNE business case 7 8 9 10 11 12 13 14 15 2 TIP: Provide critical context around the project description to help the reviewer understand why the project is being proposed and the problem or opportunity it aims to address. Project background Description Implement a this to do that B C Background A B C Opportunity or problem this will address Current state issue or need this business case will resolve
UNE business case Is this a business opportunity which will deliver new capabilities that drive the realisation of business benefits; sometimes involving initiatives that expand our current lines of business? Is this a revenue creation OR a cost reduction case? Is this an innovation case: ie will it provide transformative sources of competitive advantage? Describe the issue or need this business case will resolve B C 3 Attractiveness assessment Low/medium/high because Student benefit Strategic alignment Operational efficiency/prerequisite to stated goals/achieves or partially achieves strategic goals because Low/medium/high because Criticality to UNE TIP: If any of these attributes is not applicable just write that in the box with the reason why. Choose an overall level (bottom right) by deleting the two which do no apply. Market advantage Business productivity Financial benefit Low/medium/high because Low/medium/high because Low/medium/high because (profit or savings) Low/medium/high because Impact on staff Revenue diversification
Low/medium/high because Impact on community Student/user pull (ie demand) Attractiveness Overall UNE business case No diversification/some diversification/new revenue stream because Low/medium/high because low med high 4 TIP: If any of these attributes is not applicable just write that in the box with the reason why. Choose an overall level (bottom right) by deleting the two which do no apply. Achievability assessment UNE readiness Low/medium/high because (existing capability and capacity) Change impact on UNE stakeholders Uniqueness of case/project? Unclear /general/well defined or of strategic importance because High/medium/low because Number and complexity of deliverables Many interdependent complex deliverables/some complex deliverables/ few simple deliverables High/medium/low because
Complexity of relationships within UNE Spans all UNE/impacts some business units/one-two units affected. Level of risk Complexity of relationships with partners Clarity of benefits Complex/medium/simple because New and complex/ similar but complex/similar to others because Duration and effort Impact of noncompliance with applicable laws and regulations Achievability Overall UNE business case High/medium/low because Significant/moderate/non or minimal because low med high 5 2. Business case detail UNE business case 6 TIP: The items in these tables are examples only. For constraints, set expectations by describing the legal, budget and environmental factors which influence project success and priority. Scope and constraints In-Scope Timeframe
June 201X- October 201X Department(s) and function(s) School of Education Research Services HR Out-of-Scope Reason Why Non AQF compliant units Will be phased out Constraints Category Description Resource bottlenecks Other high-profile projects absorbing staff time Regulatory requirements Legal considerations for student privacy Speed-to-market needs Full project value only achieved if brought to market before competitors launch expected within 6 months Subject matter expertise Needs time from and external advice for Critical dependencies Successful delivery depends on the delivery of UNE business case 7 Key stakeholders & impact TIP: Identify key stakeholders inside and outside UNE using the rating scale low/medium high impact (on project). All areas of UNE affected must be listed, even if they have no role in the project. Internal Stakeholders Title/Department Project Responsibilities Project Impact
Professor Tobias School of Education Project Sponsor Secure external grant funding High because Rob Irving Director IT [Responsibilities] High because [Stakeholder 3] [Department] [Responsibilities] [Project Impact] [Stakeholder 4] [Department] [Responsibilities] [Project Impact] [Stakeholder 5] [Department] [Responsibilities] [Project Impact] External Stakeholders Organisation/dept Project Responsibilities Project Impact [Stakeholder 1] [Organisation/dept] [Responsibilities] High [Stakeholder 2] [Organisation/dept] [Responsibilities]
High [Stakeholder 3] [Organisation/dept] [Responsibilities] [Project Impact] [Stakeholder 4] [Organisation/dept] [Responsibilities] [Project Impact] [Stakeholder 5] [Organisation/dept] [Responsibilities] [Project Impact] UNE business case 8 Alternative investment analysis TIP: Briefly describe the viable alternatives to the project, and why they were eliminated in favour of the preferred option. Justification for preferred option selection The status quo is insufficient for because Option description No change Assumptions Benefits Risks Reason eliminated Cost NPV A B UNE business case 9
TIP: Determine key project objectives and tie them to deliverable outcomes with quantifiable KPIs. Objectives outcomes - KPIs Objectives Outcomes/deliverables Key performance indicators (KPIs) TIP: Outline project goals in clear and measureable terms within a specified timeframe. Formulate the objectives broadly enough so that meaningful alternatives are not ruled out, and narrowly enough so that only relevant alternatives are considered and the costs and benefits can be calculated. Assess project performance against the objectives in the post-implementation review phase. TIP: Briefly describe the key deliverables required to build the product. This section should also help the reader to get a sense of project complexity. TIP: After finalising the stated objectives and outcomes of the project, use KPIs to measure progress toward those objectives and outcomes. The KPIs should reflect the critical success factors of the project, enabling you to define and measure progress toward organisational goals. Cost Project completed on budget Planned versus actual cost Schedule Project completed by Planned versus actual completion date Student/user satisfaction [Outcome/deliverable] [KPI] Project quality Course is TEQSA compliant [KPI] Streamline decision-making to reduce course development time and improve speed to market Course design and delivery time reduced [KPI]
[Objective] [Outcome/deliverable] [KPI] [Objective] [Outcome/deliverable] [KPI] UNE business case 10 TIP: Determine the key hard and soft benefits of the project. For financial benefits seek help from finance or your schools finance expert. For costs also include the costs after implementation. Benefits and cost worksheet Financial benefits Total cost (capex + opex) for the life of the asset produced is $xk. Net present value $ Is net surplus of the project >0 in first financial year? Yes/No Payback period X months/years Total new revenue $ Non-financial benefits Metrics More students enrol X new EFTSL in years 1,2,3 Student satisfaction increases Retention better than average and surveys produce satisfaction rating of x% Greater competitive advantage x% increase in market share by y date
Improved regulatory compliance [metric] [benefit] [metric] [benefit] [metric] [benefit] [metric] Operating expenditure item [benefit] [metric] Human resources [benefit] [metric] [benefit] [metric] [benefit] [metric] [benefit] [metric] UNE business case Capital expenditure item Cost Description $00 0 Cost Description $00 0 Total capital expenditure
11 TIP: Refer to UNEs risk policy and framework to complete this worksheet http://www.une.edu.au/__data/assets/pdf_fi le/0004/37336/ riskmanagementframeandprocedures.pdf Risk assessment Risk Description Inherent risk Risk owner Risk mitigation/risk acceptance UNE business case Residual risk 12 TIP: Estimate revenue and cost over five years. For built infrastructure, the analysis should cover the economic life of the asset. For NPV calculations see finance for advice. Five year financial outlook P&L and cash flow 2014 $000 2015 2016 2017 2018 Total $000 $000 $000 $000 $000 2015 2016 2017 2018
Total $000 $000 $000 $000 $000 Revenues Operating expenses Cost reduction benefit Subtotal Financing expenses Net income Capital (investment) expenditure Net cash flow NPV of cash flow Total funding request Funding source 2014 $000 New revenue UNE operating cash UNE capital External grant from [org name] UNE business case 13 Project schedule & milestones Activity Product UNE business case End date Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 14
The following pages are for your reference as you develop your business case. When youve finished, delete this and following pages. UNE business case 15 Investment decision class Do not meet funding criteria (business case may be funded) Meet funding criteria (for current or future years) Fund Fund Mandatory Mandatory Self Self funding funding 1. Contractual, legal, regulatory compliance 2. Significant, immediate and quantifiable loss of business if not executed 3. Investment previously approved which requires additional funding Financial Year 1 income > 0 Year 1 net profit > 0 5 year NPV > 0 Non-financial Strategic alignment Positive impact on students Ease of implementation Conditional Conditional funding funding Very Very attractive attractive Financial Year 1-3 net
profit > 0 5 year NPV > 0 Non-financial Strategic alignment Positive impact on students Ease of implementation Attractive Attractive Financial NPV > 0 Non-financial Strategic alignment Positive impact on students Ease of implementation (conditional upon cash flow availability) Attractive Attractive non-financial non-financial Non-financial Revenue growth or cost reduction impact Strategic alignment Positive impact on students Ease of implementation Hold/ Hold/ investigat investigat ee Reconside Reconside rr Inconclusiv Inconclusiv ee Unattractiv Unattractiv ee Financial NPV < 0 Non-financial Not strategically aligned No measurable impact on students Difficult to implement
(conditional upon benefits realisation ie, performance metrics set) Decreasing attractiveness and priority UNE business case 16 Initiative priority Attractiveness (financial and nonfinancial) strategic alignment criticality to UNE impact on students impact on staff impact on community financial benefits (profit or savings) market advantage risk mitigation Attractivene ss High Low easy difficult Achievability (ease to implement) UNE readiness eg, existing capabilities and capacity level of risk complexity of relationships with partners Achievabilit y UNE business case 17
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