We have extensive experience of undertaking economic studies ranging from assessing the economic impact of major events (such as the London Olympic and Paralympic Games) and developments (such as the Eden Project) to sector studies (such as our recent work on Towns Fund and Future High Streets Fund).
The development of robust Business Cases is critical to the success of projects. We have established a very strong reputation in successfully developing and appraising Business Cases using the H M Treasury’s Five Cases approach, which comprises:
- Strategic Case – setting out the policy, economic and market context to the programme or project, as well as the overall objectives, delivery options, stakeholder requirements, constraints and inter-dependencies;
- Economic Case – considering the alternative options for achieving the desired objectives, based on an assessment of scheme costs and the expected benefits of each short-listed option. This analysis will inform a comparative assessment of the relative value for money for each option;
- Commercial Case – identifying the proposed contractual arrangements, security and the key risks in terms of deliverability. The latter will be based upon a risk assessment, which will identify mitigation measures;
- Financial Case – setting out a financial appraisal of each element of the overall programme or project, including the proposed funding arrangements.
- Management Case – considering of the governance, implementation and management arrangements and monitoring and evaluation requirements.
