Investment Management with NSW DPI
The New South Wales Department of Primary Industries (DPI) wanted to demonstrate the public value of its programs in a simple, logical and evidence-based way. With a revised strategic plan, stakeholders from a broad cross-section of industry and the community, and an ambitious investment program to be delivered, DPI asked Noetic for help.
As a department with programs ranging from land management to fisheries, and finite funds available, the DPI executive needed to make hard decisions about prioritising proposed investments. They wanted to ensure that investments aligned with DPI’s strategic direction, and that they could identify, manage and harvest the benefits achieved.
‘There was a great opportunity for Noetic to help DPI build its investment management capability and not only meet, but really drive its strategic objective’
Noetic’s experience shows that in an established organisation like DPI, investment and benefits management processes have varying levels of maturity. Some teams are early adopters, looking for and testing better approaches, and others need more support. By understanding how well DPI’s investment management process was working, Noetic provided the DPI executive with evidence-based information about options for building capability as well as a plan to meet the investment management timeframes set by government.
‘Noetic worked closely with DPI’s executive and key staff to understand the processes DPI already had in place.’
Our analysis identified that DPI needed a Benefits Classification Framework to align the department’s strategic plan and its investment activity. Noetic gathered input from DPI’s subject matter experts to design a suite of benefits that not only related to DPI’s strategic intent but was as relevant for its bio-security program as it was for its crown lands investments.
‘We wanted to provide the DPI Investment Board with tools that would help them prioritise their investment management decisions.’
Organisations like DPI, which have a wide set of responsibilities, often struggle to compare the relative public worth of different programs. Noetic’s business case methodology and investment prioritisation model enabled possible investments to be ranked and compared. This supported transparent decision-making and improved DPI’s investment management approach.
Using these investment and benefits management tools, Noetic experts facilitated investment logic workshops to identify the business case for intended investments. We helped DPI document the public value of each investment along with organisationally relevant, realistic and measurable benefits.
‘Noetic helped people improve their skills and make use of them in practical situations.’
The DPI executive wanted staff to adopt a consistent approach to investment and benefits management. Noetic used the investment logic workshops to share experience and build knowledge within the DPI team. Our formal training and accreditation, along with procedures, guidelines and tools, reinforced the skills provided through our on-the-job coaching and feedback.
Using Noetic’s investment and benefits management approach, DPI effectively demonstrated and communicated the public value of its programs. The DPI’s ability to manage future investment across its diverse portfolio was enhanced through a streamlined governance structure that enabled objective prioritisation and evidence-based investment decisions.