ABSTRACT
This chapter considers investment appraisal at the individual project level before turning to the issue of portfolio-level prioritisation. In such circumstances techniques such as stated and revealed preference can be used to determine value on a willingness to pay' basis. For further information see HM Treasury The Green Book Appraisal and Evaluation in Central Government, TSO, London. The appraisal also includes an assessment of the degree to which the potential investment exploits previous investments in capacity and capability. MCA management scorecards can be used for all projects, or alternatively, financial metrics can be used for those projects that have a financial objective with the management scorecard being used for all other projects, including those designed to support organisational strategy and business priorities. The ODA assesses options against a set of value categories' encompassing quantitative and qualitative factors including: Fit-for-Purpose, Time, Sustainability, Legacy, Health and Safety; Security; Equality and Diversity; Risk and Benefits.
