Investment Appraisal
Find out more about the Investment Appraisal process at the University of Leeds
This process provides the framework for progressing strategic ideas that require investment.
The Investment Appraisal process is split into 4 stages, which represent formal University decision points, and are intentionally aligned to the relevant professional process (RIBA stages). Find out more about each stage below, or read more information about the process.
STRATEGIC OUTLINE CASE
This is the start point for any idea, strategic opportunity or challenge that requires a capital solution (for investments over £2m).
PRIMA FACIE BUSINESS CASE
This is the first view of the business case and focuses on the analysis and choice of the key options (for investments over £2m).
FULL BUSINESS CASE
The detailed business case, based on the recommended option, is reviewed and considered for approval.
POST INVESTMENT REVIEW
There is a requirement to review large projects (for investments over £5m) to ensure benefits have been delivered and the learning improves our processes.
This is the start point for any idea, strategic opportunity or challenge that requires a capital solution.
A robust outline of the strategic need is required at this stage, and the benefits that would be delivered by the initiative. This includes estimating the scale of the opportunity, estimating costs, assessing contribution to strategic priorities and undertaking market analysis.
This stage can be initiated as part of the Integrated Planning Exercise (IPE), as well as any point in the annual cycle when a new need is identified.
In general, this stage is only required for projects greater than £2m in value.
Cases will be reviewed by Capital Group. Approval at this stage will initiate the design process where potential solutions will be considered and presented as part of the Prima Facie Business Case. A budget is approved at this stage to progress the proposal to Full Business Case.
Downloadable documents
Please use these documents when creating your SOC
SOC template
Downloadable Template for completion (Word)
Example documents are available upon request, please contact Head of Programme Management Office, FD
This is the first view of the business case and focuses on the analysis and choice of the key options.
This first review of the business case corresponds with the conclusion of RIBA stage 2, the concept design stage. This appraisal of the options will include identifying project build and recurrent costs, financial and other benefits, funding sources and impact on IPE plans.
In general, this stage is only required for projects greater than £2m in value.
Approval will include confirmation of the preferred option to be worked up into a detailed design for a Full Business Case.
Downloadable documents
Please use these documents when creating your Prima Facie Business Case
Prima Facie template
Downloadable Template for completion (Word)
Example documents are available upon request, please contact Head of Programme Management Office, FD
The preferred solution is developed into a detailed business case and submitted for approval.
The Full Business Case follows detailed design (end of RIBA stage 3) and the project is fully assessed for capital costs, recurrent costs, benefits, risks, funding opportunities, key assumption validation and success criteria.
At this stage, a Full Business Case document is produced for projects greater than £2m in value. For projects less than £2m, a Short Form Business Case is used.
Downloadable documents
Please use these documents when creating your Full Business Case
Full Business Case template
Downloadable Template for completion (Word)
Short Form Business Case (up to £500k) template
Downloadable Template for completion (Word)
Short Form Business Case (£500k to £2m) template
Downloadable Template for completion (Word)
Example documents are available upon request, please contact Head of Programme Management Office, FD
The planned benefits delivered by the project are reviewed and performance assessed.
There is a University-wide requirement to review large projects (for investments over £5m) to ensure that the benefits have been delivered and the learning drives improvement in our processes.
This usually takes place 2 years after project completion once the benefits have been embedded.
The output from the review will be presented to Council.
Downloadable documents
Please use these documents when creating your Post Investment Review
Post Investment Review template
Downloadable Template for completion (Word)
Example documents are available upon request, please contact Head of Programme Management Office, FD
Other useful information
Further information about the University’s Investment Appraisal process
Delegated authority levels
- Up to £0.5m
- Director of Facilities Management
- £0.5m to £2m
- Capital Group
- £2m to £5m
- UEG
- Above £5m
- Council
Delivering results
The delivering results website contains useful tools and techniques to support the delivery of an investment proposal.
Contact
Robert Dewar, Head of Finance, Facilities Directorate