The Investment Management Standard can be used for more than shaping an individual investment.
It's disciplined line of enquiry can also support programs, portfolios and broader organisational decision-making — wherever greater clarity is needed about the investment need, the value being sought, the strategic choices available and the use of resources.
The context may change, but the core questions remain the same:
Problem — What needs to change?
Benefits — What value should be created?
Response — What is the best strategic way to respond?
Solution — What needs to change or be put in place?
The IMS can be applied at different levels:
Initiative — shape and test an individual investment
Program / Portfolio — establish strategic direction and prioritise related investments
Organisation — align investment choices with organisational purpose, capability and outcomes
The key is to apply the IMS proportionately and use the parts of the line of enquiry, practices and products that best support the decision being made.
The resource below provides a simple overview of how the IMS can be applied beyond individual investments.