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Business case review services

Ideas Advisory offers two levels of business case review to support Victorian Government agencies and departments in strengthening their investment proposals. These services are grounded in key frameworks used across the Victorian Investment Lifecycle, including:

  • The DTF 16 Question Tool – Investment Decision-Makers Checklist
  • The Gateway Review Methodology – especially:
    • Gate 1: Strategic Assessment
    • Gate 2: Business Case
  • The Investment Management Standard (IMS), including tools such as:
    •  Investment Logic Maps (ILM)
    •  Benefit Maps (BM)
    •  Response Options Analysis Reports (ROAR)

 These reviews are useful at all stages of business case development, including:

  • Early drafts, to shape structure and strategy
  • Mid-stage drafts, to improve alignment before internal approval
  • Final drafts, to prepare for Gateway reviews or DTF/Cabinet submission
  • Returned or second-try cases, where reframing and independent critique are needed

 They are also valuable for executives, sponsors, PMOs and governance committees who need confidence in the case before approval, submission, or assurance review.

 These services are especially useful in the lead-up to internal funding approvals, Budget and Finance Committee (BFG) submission rounds, and DTF readiness checks.

Applicable to All Types of Business Cases

  • Asset-based cases (capital infrastructure or ICT)
  • Output funding proposals (new or expanded services)
  • Business-as-usual or lapsing program renewals (for continuity of existing services)
  • Programmatic or multi-stream proposals
  • Preliminary business cases (seeking funding to develop a full case)

1. Formal Business Case Review

Comprehensive Review for Funding and Assurance Readiness

The Formal Business Case Review is a structured, independent evaluation of a draft or near-final business case. It rigorously assesses the strategic narrative, internal logic, benefit definition, and case for investment—ensuring alignment with funding and policy expectations before submission to DTF, Cabinet, or internal governance panels.

Purpose:
  • Strengthen the case for investment
  • Improve clarity, logic, and alignment with government priorities
  • Identify and resolve common failure points (e.g. unclear problem, weak benefits, untested response)
  • Confirm readiness for Gateway 1 and 2 and the 16 Question Tool – Investment Decision-Makers Checklist

Note: This review does not involve an economic or financial analysis of the business case, but it identifies where financial or technical input may be missing or unclear.

Approach:
  • Structured review using the DTF 16 Question Tool – Investment Decision-Makers Checklist
  • Testing of the four core elements:
    • Problem – Why is investment needed?
    • Benefits – What will success look like?
    • Response – What strategic interventions are proposed?
    • Solution – What is the preferred investment option?
  • Review of associated artefacts: ILMs, Benefit Maps, ROARs, risk registers, delivery plans
  • Engagement with business case authors and project leads to refine framing and logic 

    The depth and rigour of the review are consistent, regardless of business case size.

    Deliverables:
    • A detailed written review report, aligned with the DTF 16 Question Tool – Investment Decision-Makers Checklist
    • Marked-up documents with line-by-line comments and suggestions
    • Verbal debrief with project team and/or sponsor
    • Optional presentation of findings to executives, committees or steering groups

    Ideas Advisory offers an independent external perspective while working constructively with internal teams to strengthen the case.

    2. Red Pen Review

    Rapid Peer Review Focused on the Strategic ‘Why’

    The Red Pen Review is a fast-turnaround, informal review of an early or underperforming draft. Akin to a critical friend, it provides expert, independent feedback to sharpen the case’s strategic narrative and logic. It focuses squarely on the “why” of the investment—ensuring the problem, benefits, and case for change are clear, well-articulated, and aligned with government objectives.

    When to Use It:
    • Early drafts, where shaping is still underway
    • Returned or rejected cases, where reframing is required
    • Just before informal DTF engagement, to improve narrative strength
    • Mid-stage drafts, for a fast check on logic, language and alignment
    Approach:
    • Light-touch application of the DTF 16 Question Tool – Investment Decision-Makers Checklist
    • Focused review of:
      • Problem clarity
      • Benefit articulation
      • Strategic coherence
    • Not a delivery or financial review

    Note: This review does not involve an economic or financial analysis of the business case.

    Deliverables:
    • Marked-up draft documents with digital annotations
    • A brief summary of improvement opportunities, typically via email
    • Optional informal discussion with the author or sponsor
    • No formal report is provided

    Comparison Summary

    Feature

    Formal Review

    Red Pen Review
    Tone Independent assurance Akin to a ‘critical friend’
    Strategic focus (“Why”) ✓ ✓ (primary focus)
    Implementation and delivery focus (“How”) ✓ ✗
    Based on DTF 16 Question Tool – Investment Decision-Makers Checklist ✓ ✓
    Gateway alignment Gate 1 & 2 Gateway 1 focus
    Considers ILM, BM, ROAR ✓ Where available
    Identifies typical case failure risks ✓ ✓ (focused on early issues)
    Document mark-up ✓ ✓
    Written report ✓ ✗ (email summary only)
    Verbal debrief ✓ Optional/informal
    Suitable for early/mid/final drafts ✓ ✓ (not final submission ready)
    Suitable for returned/failed cases ✓ ✓
    External/independent perspective ✓ ✓
    Economic/financial analysis included ✗ ✗
    Business case types supported All (asset, output, programmatic, preliminary, lapsing) All
    Typical turnaround 1–2 weeks 2–3 days
    Business case size All sizes All sizes (lighter review)