Edition
4 of the investment management standard is finally at a stage we need your
feedback.
Edition
4 has not been simply a matter of a few changes to what was done before. It has been necessary to make a major restructure
to enable the evolution of the investment management practices to continue into
the future. Initially the standard was
designed to suit a single purpose - making sense of individual investments. It was simple and sensible and proved to be highly effective. It was inevitable then that it would be used
more broadly.
Since
the previous release of the standard in April 2009 the practices of the
standard have been used extensively to shape major investment programs and to
support decision-makers in prioritising new investments. It is now also being used to improve the
effectiveness of an organisation.
The
other dimension that required us to re-think things is its widespread
adoption. It is now being used across Australia and New Zealand. No longer can we expect to talk face-to-face
with those using it to help them understand how best to apply the practices.
Our
challenge has therefore been to respond to the following question:
"How can we enable a
multitude of remote users with diverse interests to obtain the information they
need while keeping it simple, sensible and practical?"
Our
response has been to exploit web technologies.
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The
main features of Edition 4 are:
- The standard is
structured to provide a common approach to a range of functions that
organisations perform to direct resources to their best use - such as 'Develop the strongest case for
an individual investment' or 'Define an organisation's role and improve
its effectiveness',
- The format of the
Investment Logic Map has been changed to improve its impact and better
support current facilitation practices.
There are now three different types of ILMs - for individual initiatives, programs of
new investment and for the entire organisation,
- Five examples of good
quality ILMs are included, and
- The Benefit Management
Plans have been further developed and they now contain a Benefit Map to
improve their communication and their scrutiny.
What
you will see here is the 'beta version' of Edition 4. The following work will be done to update it
over the next period: 'Tips and Traps' for
facilitators Re-shoot the videos to
reflect the new standard, and Better practice case
studies.
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What
feedback are we seeking? We would
like your views on the following 5 areas: How easy was it to
discover the information you were seeking? How relevant are the
practices to your organisation's resource allocation functions? Is the guidance on how
apply the practices clear and useful? Has the new standard
retained its traditional values (simple, sensible and practical)? Is there anything broken
(links, templates, edits)?
We are
keen to hear what you think and would request feedback using the following link
by Thursday 14th October. We will then make changes and aim to have the
Edition 4 released by the end of October.
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The Investment Management Website
The new site is still in production but as a member of the edition 4 update you get first look at it.
To access the site follow this link and use the following user name and password.
User name: dtf-im-test
Password: password
You will then see the Investment Management Pages on the left hand navigation of the main DTF website.
Have a good look around and let us know what you think.
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