Submit an initiative for approval of any budget allocation or expenditure that is currently unplanned.
Initiatives are all similar in structure, although the amount of detail captured will increase as an initiative moves through approval stages: Idea, Proposal, Business Case, Project, Active.
This how-to guide describes the general flow and data entry requirements for an initiative. Stage-specific instructions are available in corresponding Stage-management guides.
Key Concepts
The detail required to be provided at each stage are highly configurable and are determined by the scoring model applied to the Investment Reason.
All initiatives are related a benefiting Area and sponsoring Area (if different).
All initiatives involve the following key participants:
the Person Responsible for delivering the initiative,
the Area Manager who will directly benefit from the initiative, and
the Sponsor who will approve funding of the initiative.
New initiatives must be assigned to a Budget Year - this is the first year that the initiative will require funding.
Attachments are appended to initiatives to facilitate approval and can be inserted in multiple places.
The Problem Statement and Urgency assessment of an initiative establish the imperative for action. The preferred option assesses the specific Benefits, Costs, Confidence, and Strategic Alignment of the proposed solution. All assessments are combined into an overall score for prioritization purposes.
Instructions
Complete the Problem Statement. The Problem Statement should clearly identify the Issue, Risk, Threat or Opportunity that is motivating the initiative. The anticipated Outcome should describe the expected value to be derived from implementation of the proposed initiative. This outcome should be described in higher-level terminology to allow some flexibility in selecting an optimal solution.
Identify the benefiting Area and people involved. To ensure that the most appropriate individuals are engaged in the review and approval of the initiative, the most directly benefiting area should be selected. Invite collaborators to assist with completing the initiative, and engage technical specialists for their review and endorsement, as required.
Assess the Urgency of the initiative. This will help answer the question “What’s the impact if we don’t do this” and helps motivate executive approval.
Identify and evaluate alternative Options. Options may be related to technical models, suppliers, financing methods, delivery approaches. There is normally more than one way to achieve an outcome, and a thorough evaluation of options can help select the most beneficial, least cost, lowest risk and most strategically aligned solution.
If desired or required, complete Financial Analyses for viable options.
Ensure the Costing Start and Capitalization Date fields and Fiscal Year breakdown section are completed as accurately as possible as these impact the budget source and distribution later.
Select the preferred option and ensure that the Summary screen optimally reflects the proposed initiative.
Click SUBMIT to route the initiative for approval.
To navigate through the form sections, all mandatory fields (indicated by an asterisk) must be completed. Only then will the Next navigation button become active.