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The NZ Transport Agency assesses business cases at the end of the strategic case, programme business case and single-stage business cases phases (or after both the indicative and detailed business case, if you are doing them separately). This assessment uses the 16 business case assessment questions and the Investment Assessment Framework (IAF).

The 16 questions ensure that the business case will be effective and the IAF checks alignment to the strategic priorities outlined in the Government Policy Statement on Land Transport (GPS).

Find out more about the Government Policy Statement on Land Transport (GPS)(external link)

You should use these assessments to test your own investment proposal at every phase of the Business Case Approach (BCA).

The business case assessment questions

By answering these questions, you can check that development of your business case is on track. They don’t all need to be answered at each phase, but the more advanced the business case is the more questions need to be answered.



Strategic response


Strategic case

Programme business case

Single-stage business case (or indicative and detailed business cases)

Is it clear what the problem is that needs to be addressed (both the cause and the effect)?

Have the benefits that will result from fixing the problem been adequately defined?

Have a sufficient range of strategic alternatives and options been explored (demand, productivity and supply)?

Consistent with the strategic alternatives and options, have a reasonable range of project options been analysed?

Is there evidence to confirm the cause and effect of the problem?

Are the benefits of high value to the organisation(s) (furthering its (their) objectives)?

Is it clear what strategic alternatives and options are proposed and the rationale for their selection?

Is the proposed solution specified clearly and fully (all business changes and any assets)?

Does the problem need to be addressed at this time?

Will the key performance indicators (KPIs) that have been specified provide reasonable evidence that the benefits have been delivered?

Are the proposed alternatives and options the most effective response to the problem (comprehensive and balanced)?

Is the proposed solution the best way to respond to the problem and deliver the expected benefits?

Is the problem specific to this investment (or should a broader perspective be taken)?

Are the KPIs both measurable and totally attributable to this investment?

Are the proposed alternatives and options feasible?

Can the solution really be delivered (costs, risks, timeframes, governance, etc)?

Download a document version of the 16 investment questions [DOCX, 57 KB]

Investment Assessment Framework (IAF)

The IAF uses assessment factors of results alignment and cost–benefit appraisal to determine how well proposed investments meet the strategic priorities outlined in the GPS. 

Find out more about the IAF on the Planning and Investment Knowledge Base

Tools and templates


Learning modules

Online learning modules have been developed by the Transport Agency, and are available to our partner organisations. To request access to the modules, email with your name, title, organisation and manager’s name.  

The Investment Assessment Framework (IAF) course includes:

  • Getting to know the Investment Assessment Framework
  • IAF sketches.

Go to the IAF course(external link)

Information sheets

These information sheets are designed to accompany the learning modules:

Need support?

Use our contact form to send us a question, or get in touch with your NZ Transport Agency investment advisor.

Go to the contact and support form