I.7 Value for money framework

Consideration of projects within the framework involves progression through six stages (Figure 1 refers). These stages are presented in further detail in the following chapters.

The early stages of the process (stages 1-3) focus on the development of the project concept that best meets specified service outputs. The objective of stages 1-3 is to provide high quality information to government decision-makers to assist them in making informed decisions with respect to the project's priority and affordability, and, if it is determined that the project is to proceed, the form it should take to deliver best value for money.

The later stages (stages 4-6) outline the processes to be followed in progressing the projects that have been identified as suitable for development as public private partnerships.

Figure 1 - Elements of the public private partnership process

STAGES OF THE VALUE FOR MONEY FRAMEWORK