Building on the Strategic Case developed in Stage 1, the Full Business Case (FBC) develops the detailed evidence, delivery planning, and financial analysis required to confirm that metering is the right investment and can be implemented successfully. It assures decision-makers that the preferred option represents value for money and that the organisation is ready to deliver.
Business case development should follow the New Zealand Treasury’s Five Case Model, which ensures investment decisions are robust, transparent, and evidence-based. Each “case” examines a different dimension of the proposal:
Strategic Case – Establishes the case for metering in Stage 1 by defining the problem or opportunity, strategic alignment, and expected outcomes. Delivering better outcomes for customers and the community by in creasing accuracy of bills and charges “only pay for what they use”
Economic Case – Demonstrates investment value for money by assessing options, comparing costs and benefits, and identifying the preferred solution for metering.
Commercial Case – Tests whether the proposed metering investment is commercially viable, outlining delivery models, procurement approach, and key contractual arrangements.
Financial Case – Confirms affordability, funding sources, and the financial implications of the preferred metering option over time.
Management Case – Describes how the metering programme will be managed, including governance, risk management, change control, and benefits realisation.
The five cases are progressively developed in increasing detail through the stages of the business case development, allowing for increasing levels of detail and assurance as a proposal advances.
These are set out in Figure 1 below.
Strategic Assessment - This stage provides the rationale for the project, evidences the strategic fit, and defines the objectives and critical success factors
Indicative Business Case - This stage gives decision makers an indication of the preferred way forward for an investment.
Detailed Business Case - This stage recommends a preferred option that optimises value and presents the delivery strategy of the investment.
Implementation Business Case - This stage seeks approval from decision-makers to enter into commercial contracts for the provision of the selected option.