The Victorian Government

THE CHALLENGE

The Victorian Government required a means to effectively identify, quantify and measure benefits through the life of a project in order to ensure accountability in the delivery of stated project outcomes. The greatest challenge existed in the Victorian Government’s spending on information and communications technology (ICT) in the order of $1 billion annually. Noetic was engaged to work with the Office of the Chief Information Officer (CIO) to develop and implement an investment management approach for ICT spending in Victoria.

WHAT NOETIC DID

Noetic drew on work we had done with the Victorian Government CIO in identifying leading practice regarding benefits management. As a first step Noetic worked with the largest departments to understand how a benefits-focused investment management approach might be applied to Victoria’s whole-of-government ICT investments. Once this was refined and agreed, Noetic successively implemented this investment management approach to the following investments:

THE OUCOME

The implementation of an investment management approach for the Victorian Government realised more effective investment of a number of ICT projects that in total accounted for a cost benefit saving of $73 million over five years. The work with OCIO saw the ongoing development and refinement of this approach to be instituted as the Victorian Government Investment Management Standard.