As discussed above, Business Cases are the vehicle by which the public sector (government) makes investment decisions. They are usually produced in accordance with guidelines produced by Treasury. An example of a Treasury guideline is the Investment Lifecycle Guidelines Business Case Version 1, July 2008, (Victorian Department of Treasury and Finance). Although the requirements and expectations for Business Cases may vary in each jurisdiction, they have much in common and do not differ on the core principles.
Business Cases are expected to address the following two fundamental decisions that government ministers will need to make:
1. the Investment Decision-why is this investment a good idea?
2. the Project Management Decision (including the procurement strategy decision)-how can we best deliver the investment objectives?