2.4.1  Introduction

In Victoria, business cases are required to be prepared and submitted in support of all asset or capital proposals costing $5 million or more6.

A business case is a useful tool for agencies that wish to invest in a capital asset or project, and helps them to:

•  assess strategic fit, by defining the service need, and assuring alignment with government objectives

•  analyse options on how to achieve the need (including procurement options)

•  validate and confirm assumptions through a formalised business case containing detailed evaluation of costs, benefits, risks and opportunities.

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6  This requirement applies to the general government sector (i.e. departments and statutory authorities).