Submit an Investment Proposal for the allocation of budget funding.
Once an Idea has been approved, the Responsible Person will be notified to prepare a Proposal for budget consideration. A Proposal can also be directly initiated.
Key Concepts
The detail required to be provided is highly configurable and is determined by the scoring model applied to the Investment Reason by the Administrator.
The Problem Statement and Urgency assessment of a Proposal 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.
If an Investment Proposal is Approved and Budgeted, the initiative stage is automatically transitioned to Business Case, which may require a more thorough Financial Analysis to be completed before expenditure is approved.
Instructions
Click Create>Proposal from the menu, or click the Proposal button in the header bar.
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. For example, consider alternative models, suppliers, financing methods, delivery approaches, and technologies. 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.
Select the preferred option by clicking the Star icon from the action icons alongside the Option.
Ensure the Cost, Start Date, Capitalization Date and Fiscal Year breakdown section of the preferred Option are completed as accurately as possible as these impact the budget source and distribution.
Append supporting document attachments as required.
Confirm that the Summary screen optimally reflects the Proposal, clicking on each dimension score to verify that the scoring matrix has been completed accurately.
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.
Proposals are routed to both the Area Manager and Sponsor for approval prior to be considered for budget inclusion.
If an exclusive investment category is selected, only that investment category can be assigned to the initiative.