The earlier you start your Investment Logic Map (ILM) process, the better! You’ll have more time to build a compelling case for your investment and a much clearer elevator pitch when you bump into a Minister or Senior Executive in the lift.
In government, budget processes are high pressured and time compressed, particularly after an election like the one Victoria will have this November. Based on experience, it is likely that business cases will need to be fully developed and approved by lead departments and relevant Ministers for budget analysis by the end of January.
This will only allow two months, over the busy Christmas–New Year period to finalise documentation, process internal prioritisation and influence the various decision makers as to the merit of your business case.
A clear concise Investment Logic Map (ILM) can make this process significantly easier and faster. And it is a small outlay for huge benefits.
If you need to mount a budget bid or if you need to crystallise the underlying logic of your program or project, now is a good time to undertake an ILM.
Further information on Investment Management Standard and how to kook an Investment Management Standard workshop can be found here.