Economics
The Independent Assessment of Economic Appraisals and Business Cases
Departmental economists review Business Cases submitted to the Department from Trusts, Boards and Health Care Organisations to ensure high standards in terms of quality, accountability and Value for Money. To achieve this advice and commentary is provided on submitted business cases and appraisals highlighting current best practice.
The main focus of any Business Case should be -
- Analysis of the Strategic Context
- Full assessment of the need for the project
- Clear statement of objectives and constraints
- Suitable and realistic choice of options
- Identification and quantification of monetary costs and benefits
- Assessment of risk and optimism bias
- Analysis of non-monetary costs and benefits
- Net Present Values
- Finance, Management, Monitoring and Post Project Evaluation
- Balance between options and presentation of conclusions
Business Case advice pre-submission
Economists also assist Trusts, Health Care Professionals and Consultants in the production of high quality and robust business cases. Organisations who are in the process of developing a business case for submission to the DHSS&PS can request meetings with departmental economists who subsequently can offer advice and support in the development of their business case. All advice offered is strictly confidential.
