APMG BBC Foundation flashcards
APMG BBC Foundation · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Strategic case
- Demonstrates strategic fit and a compelling case for change, linking the proposal to organisational objectives and showing why the status quo is unacceptable.
- Case for change
- The evidence and rationale showing why current arrangements are inadequate and why intervention is needed to deliver the strategic objectives.
- Investment objectives
- SMART statements describing the outcomes the proposal is intended to achieve, used later to judge options and measure success.
- Business scope
- Defines what is inside and outside the proposal, including boundaries, interfaces, dependencies, constraints and excluded activities.
- Strategic fit
- The alignment between the proposal and wider organisational, departmental or government priorities, policies and published strategies.
- Stakeholder analysis
- Identifies parties affected by or able to influence the proposal, their interests, impact and engagement requirements.
- Economic case
- Assesses whether the proposal delivers best public value by comparing shortlisted options using costs, benefits, risks and non-monetised factors.
- Shortlisted options
- A small set of feasible options, including do minimum, taken forward from the long list for detailed appraisal against critical success factors.
- Do minimum option
- The baseline option that keeps current arrangements with only essential maintenance, used as the comparator for all other options.
- Net present value
- The sum of discounted future benefits minus discounted future costs over the appraisal period, expressed in today's money.
- Benefit-cost ratio
- Present value of benefits divided by present value of costs; a ratio above 1 indicates benefits exceed costs.
- Optimism bias
- An uplift applied to estimated capital costs and schedules to correct systematic over-optimism in appraisals, varied by project type and maturity.
- Sensitivity analysis
- Tests how appraisal results change when key assumptions, such as costs, benefits or timing, are varied within plausible ranges.
- Commercial case
- Shows that the proposal can be procured and contracted successfully, covering sourcing, risk allocation, payment and supplier capability.
- Procurement strategy
- The chosen route to market, including competition, framework use, evaluation criteria and timetable for selecting a supplier.
- Risk allocation
- The assignment of specific risks to the party best able to manage them, recorded in the contract and reflected in pricing.
- Payment mechanism
- Rules linking payments to delivered outputs or service performance, including deductions, incentives and measurement methods.
- Market sounding
- Structured engagement with potential suppliers to test market capacity, appetite, likely costs and innovative delivery approaches.
- Contract management
- The arrangements for monitoring supplier performance, managing contract variations, resolving disputes and securing the intended contractual outcomes.
- Financial case
- Demonstrates affordability by showing the proposal fits within approved budgets and funding, and sets out accounting and cash implications.
- Affordability
- The extent to which whole-life costs can be met from available funding and budgets without creating an unfunded gap.
- Funding gap
- The difference between total required funding and confirmed available funding; a positive gap means the proposal is unaffordable as described.
- Whole-life cost
- All costs over the asset or service life, including capital, operating, maintenance, replacement and disposal costs.
- Cash flow profile
- The timing of receipts and payments across years, used to check that funding is available when expenditure falls due.
- Accounting treatment
- How the transaction is classified in financial statements, including capital or revenue, asset recognition and liabilities.
- Management case
- Sets out how the proposal will be delivered, governed, assured and monitored, including plans, roles, risks and benefits realisation.
- Senior Responsible Owner
- The individual accountable for the project's success, securing delivery, maintaining strategic alignment and chairing the project board.
- Project board
- The governing group that provides direction, approves plans and manages escalations, typically including senior user, supplier and business roles.
- Assurance plan
- The schedule of independent reviews, gate checks and audits that provide confidence the project will deliver its objectives.
- Benefits realisation plan
- A plan naming each benefit, its owner, measurement method, baseline and timing, used to track delivery after implementation.
- Change control
- The formal process for assessing, approving and recording changes to scope, cost, schedule or benefits after baselining.
- Post-implementation review
- An evaluation after delivery that compares actual outcomes, costs and benefits with the approved business case and records lessons.