The Investment & Prioritisation Framework is about choosing which initiatives to fund, and how much to spend. There is always more demand than can be fulfilled, so investment decisions need to be made wisely. This framework enables consistent and transparent decision making that is aligned with the strategic vision and values of the organisation.
The key features of our Investment & Prioritisation Framework are:
- It is intentionally designed as an extensible framework that can be tailored to complement the existing executive decision making processes of an organisation.
- By taking an enterprise wide view of change it provides opportunities to identify synergies and dependencies between change initiatives.
- There is a single process for all types of change. There may be different paths through the process for different types of change, but to maintain the integrity of the process and to achieve the desired strategic outcomes, there can be no backdoors or “skunk works”.
- It provides ‘stage gates’ that do not throttle or hinder productivity, but rather provide the opportunity to cancel or delay a project before a large investment is committed.
- It incorporates two key prioritisation stage gates, one for conceptual design prioritisation, the second for solution delivery.
- The decision factors that are important to assist in making appropriately informed investment decisions are tailored for each organisation but typically would include financial analysis, strategic fit analysis, heat maps and balanced scorecards (or an equivalent technique).
A high level process view of the framework is shown in the diagram below. This high level process forms the baseline from which we tailor a more detailed process that meets the needs of the organisation and takes into account existing investment and prioritisation processes.
Framework Process View Diagram
- The process starts with the proposal of a change initiative
- A High Level Assessment determines the type of change and its path through the change process. For example a small change will probably not require a conceptual design but instead can be fast tracked through to prioritisation for solution delivery.
- Change initiatives that do require a conceptual design are prioritised.
- The Conceptual Design stage is responsible for producing a high level solution design and business case. This stage can use our Conceptual Design Process or an alternative if an organisation already has such a design process in place.
- Now that a detailed business case exists, the initiative can be prioritised for solution delivery.
- Solution delivery commences.