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Purpose of a Business Case

A Business Case provides the justification for setting up, funding or continuing to fund a project or Pillar Plan initiative (including partnership opportunities with external third parties) and should succinctly contain all relevant details required to enable the reader to make informed decisions. It should also include a risk assessment and costs required to manage the risk.  Detailed information can be obtained in the Business Case User Guide.

Selecting a Business Case Template

There are three investment Business Case templates that are available for opportunities seeking funding - a Project Summary, a Concept Business Case (which may include a Financial Model) and a Detailed Business Case which is required to submit a Financial Model.

All Business Cases are to be provided (for noting / endorsement) to Planning & Budgeting Committee (PBC).

  • Project Summary

    Project Summary - is for a project or Pillar Plan initiatives seeking investment funding approval up to $500k.

  • Concept Business Case

    A Concept Business Case – is for a project or Pillar Plan initiatives seeking investment funding approval > $500k to $2M.

  • Detailed Business Case

    A Detailed Business Case – is for a project or Pillar Plan initiatives seeking investment funding approval of >$2M to undertake a new project that may be complex or have a medium/high risk rating. Projects assessed to have a medium/high risk rating are required to be discussed with General Counsel (refer to University Risk Matrix to assist in assessing the risk profile of the investment).

    Detailed Business Case approval levels are as follows:

    • >$2M - <$6.0M requires Council to note, VC to approve the expenditure, and
    • >$6.0M requires VC to note, and Council to approve the expenditure.

  • Financial Model

    The Concept Business Case may include a Financial Model, while the Detailed Business Case is required to submit a Financial Model detailing the cost and revenue generation assumptions, expressed in nominal $
    terms (that is, where spend is forecast over multiple years then the revenue and costs are to be escalated by a University approved escalation factor)..

Further information

Further information and assistance can be sought from the Office of Financial Strategy, Analysis and Reporting in relation to preparing Business Cases and the Financial Model by contacting the Manager Financial Planning and Analysis.