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NEW INITIATIVE BRIEF

FOR A BUSINESS CASE

Title

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 1 of 8

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CQUniversity CRICOS Provider Code: 00219C
1 DOCUMENT 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

1 DOCUMENT CONTROL AND INFORMATION .................................................................................................... 2


Document History .................................................................................................................................................... 2
Approval Sign-off ..................................................................................................................................................... 2
2 SUMMARY AND RECOMMENDATION ............................................................................................................... 3
3 BACKGROUND .................................................................................................................................................... 3
4 WHAT IS THE PROBLEM YOU ARE TRYING TO SOLVE? (WHAT IS THE JOB TO BE DONE (JTBD) FOR
THE PROJECT BEING PROPOSED?) ................................................................................................................ 3
5 FOCUS MARKET .................................................................................................................................................. 3
Market research .................................................................................................................................................... 3
Opportunities in the market ................................................................................................................................... 3
Market Assumptions.............................................................................................................................................. 3
Competitors ........................................................................................................................................................... 4
6 RESOURCES, PROCESS AND PROFIT ............................................................................................................. 4
Resources ............................................................................................................................................................. 4
Process ................................................................................................................................................................. 4
Profit ...................................................................................................................................................................... 5
Priorities ................................................................................................................................................................ 6
7 REGULATORY AND LEGAL CONSIDERATIONS .............................................................................................. 7
8 REFERENCES ...................................................................................................................................................... 7
9 APPENDICES ....................................................................................................................................................... 8
Appendix 1 ............................................................................................................................................................ 8

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 2 of 8

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2 SUMMARY AND RECOMMENDATION

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

3 BACKGROUND

4 WHAT 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.

5 FOCUS 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 non consumers 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.

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 3 of 8

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Competitors
Outline:
 Who are the competitors and what are they doing
 What are their strengths and weaknesses?
 What are your assumptions?

6 RESOURCES, PROCESS AND PROFIT

Resources
Location 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

Length of project

 When does the project start and finish?


 Outline timeline

Activities 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
Business Model

Strategy 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.
Milestones

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?

Business Case Template – New Initiative Effective Date: 12/05/2017


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Short-term goals: Year 1 Actions required Deadline Responsibility

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

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

Governance

Executive Sponsor Add name


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

Profit
Reverse 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

Business Case Template – New Initiative Effective Date: 12/05/2017


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Potential Cost Savings

Profit and Loss

Cash Estimates

Returns

Required Revenue – Allowable Costs = Returns

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

Financial 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

Funding source

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

General Operation $

Capital $

Priorities
Strategic Positioning

Goal Opportunities & Benefits


Growing higher education and vocational
education and training
Providing a great student experience

Expanding our presence and reach

Growing our engagement and social


innovation
Undertaking great research

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 6 of 8

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Constraints

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

7 REGULATORY 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.

8 REFERENCES

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 7 of 8

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CQUniversity CRICOS Provider Code: 00219C
9 APPENDICES
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 Risk Treatment Residual Risk Analysis Executive
criteria Responsibility
(Risk Owner)
Plan/Activity Indicators
Overall
(lead/lag), data
Consequence Likelihood Risk
source, Rating
evidence

10

Business Case Template – New Initiative Effective Date: 12/05/2017


Reference Number/Code: 3091 Page 8 of 8

Once PRINTED, this is an UNCONTROLLED DOCUMENT. Refer to Policy Portal for latest version
CQUniversity CRICOS Provider Code: 00219C