The guiding principles underlying this policy framework include,
∙ clarity and certainty of process to provide the private sector with the confidence to invest in the development of high quality, cost-effective and efficient project solutions.
∙ value for money focus, to ensure the objectives of the government are delivered by the mechanism that best represents value for money.
∙ competitive process to drive value for money and innovation.
∙ consistency with government policies, objectives and planning principles, and with public private partnership policies being developed in other jurisdictions.
∙ analytical rigour that focuses on objective, whole of life, risk-adjusted costing as part of a thorough investigation of available delivery options.
∙ effective risk allocation to ensure risk is allocated to the party best able to manage it.
∙ protection of genuine intellectual property to encourage development of innovative solutions.
∙ transparency and accountability through clear definition of the process and of the respective roles and responsibilities of the government and Private Sector parties.
∙ clear definition and understanding of project outcomes through constructive information exchange with potential proponents. This will be undertaken through a structured process to ensure all proponents are treated in a fair and equitable manner.