1.6 Good procurement is central to the start of the asset life cycle and it is crucial that procuring authorities use a whole-life costing approach rather than the cheapest or easiest option. Major infrastructure projects require detailed and careful planning and it is important that a robust, value for money assessment is made when choosing the procurement option.
1.7 In order to take advantage of the unprecedented increase in public sector investment over the last decade, 2007 CSR also adopted a more strategic approach to asset management, driving better value for money and encouraging efficient management of the government's existing asset base. This includes:
• with the agreement of the Treasury, departments being able to reinvest proceeds from the sale of surplus fixed assets in capital investment in addition to their existing capital budget;
• departments producing asset management strategies to set out their plans for actively managing their existing assets and to provide the strategic context for future investments;
• retention by departments of proceeds from more efficient use of assets arising from engagement in the Wider Markets Initiative;
• the Office of Government Commerce's (OGC) High Performing Property initiative to deliver increased efficiencies in the management of the government's property assets; and
• the National Asset Register to help ensure that government retains only those assets required for public service delivery.
1.8 Alongside continued assessments of the ownership and management of the government's corporate and financial assets, these initiatives have also ensured good progress against the asset disposals target.