Purpose of a Business Case
A Business Case provides the justification for setting up, funding or continuing to fund a project or 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 two investment Business Case templates that are available for opportunities seeking funding. The Concept Business Case may include a Financial Model, while the Detailed Business Case is required to submit a Financial Model.
- Concept Business Case
A Concept Business Case – that is seeking investment funding approval of between $500k and <$1M in a year or between $250k to $1M p.a. over multiple years to implement a project and/or to continue progressing a concept (ahead of seeking an approval at a later date).
- Detailed Business Case
A Detailed Business Case – that is seeking investment funding approval of >$1 million 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).
- 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 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.