Changes during the lifecycle of a Partnerships Victoria project require active management. Changes may be contemplated during procurement and provided for in the project deed. In some cases, unanticipated alterations to the project assets, contracted services or the project deed (or other project contract) become necessary. In either case, change events are both a source of risk and a potential opportunity to gain additional benefits from the project. The government party should ensure there is no unintentional take-back of risk allocated to the private party during a change event.