VALUATION APPROVAL PROCESS
Prior to Approval
Investments below £500,000 must
be signed off by the Director of Sport, Director of Rights and
Finance, or Senior Rights and Commercial Executive (unless otherwise
All investments over £500,000
must have a project sponsor and an Investment Proposal (see above).
All Investment Proposals require
approval by both the Director of Sport and Finance Director of
Any Investment Proposal over £2
million must also be approved by the Director General's Finance
Occasionally, at the DGFC's discretion,
the Investment Proposal may go to Governors for their approval.
For all investments requiring DGFC
approval, the Investment Proposal is first sent to the Financial
and Commercial Strategy team (a separate department in the BBC)
for its review and comment. This team will prepare a 1-2 page
Investment Critique, to be attached to the Investment Proposal
and sent to DGFC for consideration.
Once the outcome of any project over
£500,000 can be reasonably assessed, a Post Implementation
Review ("PIR") must be drafted by BBC Sport's Finance
Director and the project sponsor.
It is the BBC Sport's Finance Director's
responsibility to review all PIRs.
For all investments over £2
million a copy of the PIR is also sent to the Investment Manager
(in Financial Commercial and Strategy).
A quarterly summary of all relevant
PIRs (across the whole of the BBC) is provided to DGFC along with
a summary of conclusions and lessons learnt.
An annual summary of PIRs is reported
to the BBC's Executive and Audit Committee.