4.1 The first Infrastructure Priority List was originally to be completed, for COAG consideration, by March 2009.108 However, following the onset of the global financial crisis, COAG brought the completion of the first Infrastructure Priority List forward to December 2008, to be due at the same time as the National Infrastructure Audit.109 In bringing the due date forward, COAG noted that the Audit and List were to be provided in the form of an 'interim' report. The original COAG deadline of March 2009 was retained for the completion of a 'final' Priority List.
4.2 As outlined at paragraph 3.8, Infrastructure Australia's Prioritisation Methodology involved three phases:
• profiling, being an analysis of how well the project would meet Infrastructure Australia's strategic priorities;
• appraisal, measured principally through a projects BCR; and
• selection, in which the outputs of the preceding profiling and appraisal phases were to be used to create a priority list of initiatives to enable informed decision‐making for the allocation of funding.
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108 COAG Meeting Communique, 26 March 2008.
109 COAG Meeting Communique, 2 October 2008.