The process of establishing a project need will depend on its size and complexity. Regardless of its exact characteristics, before committing funds and resources in the preparation of an investment case, you should seek confirmation that the project is a current TAFE priority.
To validate the project-need, you should clearly demonstrate how it:
- addresses a key problem, issue or service need for the TAFE and its key stakeholders
- delivers significant benefits to those impacted by the identified problem, issue or service need and any wider benefits also achieved, and
- represents an appropriate and efficient solution to address the problem and maximise benefits realisation.
Depending on the capability and capacity of in-house staffing resources, you may wish to engage a consultant to assist you in developing a thorough and convincing case for investment.
At this stage of the project, it may also be helpful to start thinking about what procurement model could be suitable for the project, as well as the most appropriate governance structures.
Business-as-usual (BAU) projects
Although project funding has been approved, you will need to gain approval to start the project in the current financial reporting period, formalise its commencement and have the finance department release funds to undertake the works and complete the project.
Low complexity projects
You will first need to confirm the project is an organisational priority. Once it has been confirmed as a priority, you should develop an initial case for investment to seek internal (TAFE) funding to commence the project.
Where the project is categorised as low complexity but forms part of an externally funded program of works, the requirements for demonstrating the project-need will likely align closer to those of BAU projects, as outlined above.
Medium complexity projects
You will first need to confirm the project is an organisational priority Once it has been confirmed as a priority, you should develop an initial case for investment to seek internal approval to commence the business case process.
Once approval is received, you can start preparing a preliminary business case to gain funding and approval to commence the project from either the TAFE board for internal funding, or from the external funding source authority.
High-value-high-risk projects
You will first need to confirm the project is an organisational priority. Once it has been confirmed as a priority, you should develop an initial case for investment to seek internal approval to commence the business case process.
HVHR projects are subject to the Department of Treasury and Finance’s HVHR Investment Lifecycle Framework which commences with a preliminary business case followed by a full business case. In some instances, you may be instructed to proceed directly to the full business case phase by the government.
Confirming a project is a priority
Using the project prioritisation confirmation template, confirm a project is a TAFE priority.
Developing an initial case for investment
Learn how to seek approval for internal funding or approval to commence the business case process for a TAFE project.
Preparing a preliminary business case
Understand the key components of a preliminary business case for a TAFE project and when it needs to be prepared.
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