- Performance evaluation. Performance should be evaluated over time to assess if intended VfM outcomes are being met. This establishes a link between performance and risk management.
- Management reporting. Reporting should demonstrate the extent to which intended VfM outcomes are being achieved. Decision-makers should make informed decisions e.g. about resourcing based on this type of information. This establishes a link between performance, partnership and risk management.
- Managing performance shortfalls. Performance should be monitored to identify areas of under-performance. Shortfalls can typically be addressed through an investment in employee training, contract variation, KPI modification and / or the application of penalties or abatement. This establishes a link between performance, partnership and risk management.
- Opportunity (risk) implementation. Given the right incentives, new and innovative ideas could be implemented during the operational phase which benefit both parties and may lead to better than intended VfM outcomes. This establishes a link between performance, partnership and risk management.