Investment Logic Mapping
Investment Logic Mapping (ILM) is an investment planning technique developed by the Victoria State Government in 2003. It was formally introduced to New Zealand by the State Services Commission in 2008.
It is a cost effective technique which helps ‘tell the story’ about a proposed investment and filter out ideas which don’t stack up. It involves a series of facilitated 2 hour workshops to identify the problem, benefits and potential solutions. The main output is an investment logic map written in plain english often called a ‘business case on a page’.
ILM is the ‘front end’ of the Better Business Case (BBC) process i.e. Programme/Project Strategic Assessment. Any proposed capital investments in the public sector need to consider using the ILM process and it is mandatory for large high risk projects. ILM can be used at a number of levels including prioritising investments across an organisation. Whilst it has its origins in the public sector it has also been successfully utilised by private sector organisations.
Benefits of an ILM include:
- Standard decision making approach
- Easy to understand
- Early filter of ideas which don’t stack up
- Early engagement of key stakeholders
- Time and cost effective
Idea Partners have a fully accredited ILM facilitator on the books (1 of only 8 in New Zealand) who has facilitated over 40 workshops for clients across the public and private sector.