Abstract
This article considers a tool called an ‘investment logic map’ which was developed by the Victorian Government Department of Treasury and Finance to assist in testing the rationale for proceeding with investment proposals (particularly information and communications technology investments) while they are still at an early stage of development. The article views this tool through the lens of evaluation theory and practice, and situates the investment logic map within the practice of front-end evaluation.
From this perspective, the article considers some of the drawbacks of the investment logic map as an example of program logic. The article argues that, because of the pivotal role the investment logic map plays in the management and review of investments through their lifecycle (as part of the government's broader Investment Management Standard), it needs to be underpinned by more robust evaluation practice. The article concludes by suggesting a way in which the strengths of the investment logic map can be retained, while reducing the risks inherent in its current use.
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