New Initiative Brief

for a Business case

Title

1Document Control and Information

Position
Document Unique Number
Document Owner
File Name

Document History

Approval Sign-off

Role / Name / Sign-off Date
Project Director
Senior Responsible Owner/ Project Executive
Vice- Chancellor

Approvals are subject to University Governance requirements.

CONTENTS

1Document Control and Information

Document History

Approval Sign-off

2SUMMARY AND RECOMMENDATION

3BACKGROUND

4WHAT IS THE PROBLEM YOU ARE TRYING TO SOLVE? (WHAT IS THE JOB TO BE DONE (JTBD) FOR THE PROJECT BEING PROPOSED?)

5FOCUS MARKET

Market research

Opportunities in the market

Market Assumptions

Competitors

6Resources, Process and Profit

Resources

Process

Profit

Priorities

7Regulatory and legal considerations

8References

9Appendices

Appendix 1

2SUMMARY AND RECOMMENDATION

Outline the summary of your Business Case, Recommendation, and costs

3BACKGROUND

4WHAT IS THE PROBLEM YOU ARE TRYING TO SOLVE? (WHAT IS THE JOB TO BE DONE (JTBD) FOR THE PROJECT BEING PROPOSED?)

Have a clear statement of what it is you are doing from a consumers (students) perspective e.g. (Consumer) wants to (solve problem) in (this circumstance). The statement needs to be considered at a university level.

5FOCUS MARKET

Is your project new to the market? (Potential disruption)

Is your project currently in the market? (Sustaining)

Is your project seeking new and/ or modifying space/buildings?

Outline:

  • Why are you entering the investment and what will drive its success in university business?
  • Are there currently nonconsumers that your project can target?
  • How do you plan to maximise your strengths and opportunities, and minimise your weaknesses and threats?
  • Articulate who is the consumer and what the benefits are to the consumer.
  • Provide details about your product or service and how it will appeal to consumers.
  • Who is your target market?
  • What is the size and value of your target market?
  • What is your competitive advantage?
  • Can we improve/ maintain profit margins through existing processes and cost structures?
  • Can we utilise a new operating/ financial approach that can earn attractive returns at the discount price?
  • Can we make a profit at lower per unit price with small volume (initially)?

Market research

Describe the current state of the market you are in/entering. How did you come to this finding? What research have you done for this and the methods you used? Explain your findings in terms of market size and outlook.

Opportunities in the market

  • What is the market opportunity you’ve identified and is anyone else likely to exploit this gap?
  • What are your assumptions? Asses both outward of the market and inward (university)

Market Assumptions

  • Dot point list your assumptions. It will be important to review these assumptions as the project progresses.

Competitors

Outline:

  • Who are the competitors and what are they doing
  • What are their strengths and weaknesses?
  • What are your assumptions?

6Resources, Process and Profit

1

2

3

Resources

6.1Location and premises

  • Where is the location of the building/s?Is it buy or lease?
  • Where will the courses be located? List them all
  • What is the space requirements?
  • Do special spaces needed to be developed? I.e. labs

6.2Length of project

  • When does the project start and finish?
  • Outline timeline

6.3Activities to deliver the Job

  • What equipment, IT and communications, staffing is needed? Is it buy or lease?
  • How is this being used?

Consider your resources required to deliver the job and associated costs and place in the table below.

Activity / Items Required / Cost ($)

Process

6.4Business Model

6.5Strategy with options

  • Outline the strategy you are adopting keeping in mind the market focus and business model you have identified.
  • What type of strategy are you using? Value Net/ Existing Consumer/ Non Consumers.

6.6Milestones

What business goals and objectives have you set for the coming year? What are your longer-term goals? Are they SMART – specific, measureable, attainable, realistic and time-bound?

Short-term goals: Year 1 / Actions required / Deadline / Responsibility
Long-term goals: Years 1-3 / Actions required / Deadline / Responsibility

6.7Consultationand change management

Public interest

Is there any public interest and if so what is it?

Consultation strategy

Outline how you will communicate the product/ service to the desired consumer.

How we will make the change? / What does it mean for us? / How do we know if we have succeeded?
We will make the change by: / The aim is for ….
All staff and key stakeholders will gain knowledge … via / We know we have succeeded when we:
  • Have

6.8Governance

Executive Sponsor / Add name
Project Director / Add name
Project Manager / Add name
Project Team / Add names
Project Committee (If required) / Add names

Profit

6.9Reverse Income Statements (Disruptive Project only)

Total Figures
Required profits to add 10% to Total Profits
Necessary Revenue to deliver 10% Margin
Allowable Costs to deliver 10% Margin
Per Unit Figures
Required course sales at ?? per course
Necessary course revenue to deliver 10% margin
Allowable costs per Course for 10% margin
Ongoing costs

6.10Potential Cost Savings

6.11Profit and Loss

6.12Cash Estimates

6.13Returns

Required Revenue – Allowable Costs = Returns

6.14Return on Investment (ROI) or Return on Capital (ROC)

6.15Financial Assumptions

Profit Margin
Revenues
Course Selling Price
Fixed Asset Costs
Effective Life of Asset/s
Annual Project Manager Salaries
Administrative Staff Salaries
Courses delivered per year

6.16Funding source

List all of the funding your business has received with details of amounts received and any debts still outstanding.

General Operation / $
Capital / $

Priorities

6.17Strategic Positioning

Goal / Opportunities & Benefits
Growing higher education andvocationaleducation andtraining
Providing a great studentexperience
Expanding our presence andreach
Growing our engagement and social innovation
Undertaking great research

6.18Constraints

CQUniversity is committed to the management of risk as an integral part of its operations, focusing on strategies to minimise risks to University’s mission and objectives. Staff need to consider the risk appetite in business case development and decision making.

To determine the overall or residual risk refer to Tables 4.6 and 4.8 of the Risk Management Framework and Guidelines

Complete Appendix 1 and provide a narrative on risk rating result

7Regulatory and legal considerations

The Government (both Federal and State) and local councils will all have laws and regulations that you’ll have to comply with. List all the regulatory requirements for your industry and the steps you’ve taken to comply with them.

8References

Business CaseTemplate – New Initiative Effective Date: 12/05/2017

Reference Number/Code: 3091 Page 1 of 8

Once PRINTED, this is an UNCONTROLLED DOCUMENT. Refer to Policy Portal for latest version

CQUniversity CRICOS Provider Code: 00219C

9Appendices

Appendix 1

Risk Review

Refer to the CQUniversity Risk Management Policy, Framework and Guidelines

Consideration of the risk appetite must be accepted

Risk Register– Name the project
No. / Risk Identification / Risk criteria / Risk Treatment / Residual Risk Analysis / Executive Responsibility (Risk Owner)
Plan/Activity / Indicators (lead/lag), data source, evidence / Consequence / Likelihood / Overall
Risk Rating
1
2
3
4
6
7
8
9
10

Business CaseTemplate – New Initiative Effective Date: 12/05/2017

Reference Number/Code: 3091 Page 1 of 8

Once PRINTED, this is an UNCONTROLLED DOCUMENT. Refer to Policy Portal for latest version

CQUniversity CRICOS Provider Code: 00219C