Link Adopts Business Case Framework
Link Nova Scotia has reached an exciting milestone – we have completed action 4.2.2 from the Regional Transportation Plan. This is the first completed action from the plan.
Action 4.2.2 recommended the development of a business case framework. A business case is an evidence-based analysis of the project’s anticipated benefits to society and performance against a common set of objectives.
It allows us to consistently analyze and evaluate transportation projects. This evidence-based approach will help to inform decisions on transportation investments.
Business cases are also used to:
- appraise transportation projects,
- identify, optimize, and monitor project benefits over the project life cycle,
- communicate benefits to stakeholders, and
- deliver value for money for public investments.
The process of developing a business case is intended to accompany a project from start to finish, to allow decision-makers to make go/no-go decisions on the project at key decision points and to ensure project benefits are maintained in delivery.
This guidance was developed in collaborative process between Link and a project team from Arcadis. The framework uses common themes that exist around the world, tailored to meet the specific needs of Link and the people of Nova Scotia.
The framework also gives us the flexibility needed to adapt from project to project, as it includes a streamlined process for smaller projects. Major capital projects will be evaluated using the full business case process.