The high level drivers, objectives and benefits set out in the Business Case are essential to allow decision makers to:
• understand the merit of any one investment proposal (i.e. the VfM proposition); and
• compare investment proposals in Business Cases for different projects (i.e. the opportunity cost of capital consideration) and in relation to the government's long-term policy objectives.
However, the Business Case does not contain the level of detail that would enable an alliance to adequately plan, measure and report on its VfM achievements.
Therefore, the Owner should determine and expand on its critical requirements and expectations in the Owner's VfM Statement. The Owner's VfM Statement is explored further in Chapter 5 of this Guidance Note.