8 Acronyms and terms

Acronym/term

Description

AOC

Actual outturn cost, being the total cost of the project delivered by the alliance

ALT

Alliance Leadership Team

BAU

Business-as-usual

DTF

Department of Treasury and Finance

ERC

Expenditure Review Committee (of Cabinet)

This is the usual name given to the cabinet committee that takes the lead on behalf of government in determining the state/Commonwealth Budget

HM Treasury (UK)

Her Majesty's Treasury

H/M/L (consequences)

high/medium/low

ICAC

Independent Commission Against Corruption

ILM

investment logic map

KRI

key result indicator

KRA

key result area

MCOS

minimum conditions of satisfaction

NOP

Non-Owner Participant

PAA

Project Alliance Agreement

TCE

target cost estimate

TOC

Target Outturn Cost, being the estimate of project costs within which the alliance will deliver the project

VfM

Value-for-Money