Effective contract management will also require use of expert external resources from time to time. The original private sector legal, commercial and technical advisers will have a level of familiarity with the project circumstances to provide specific advice.
A sufficient budget will need to be available for regular ongoing contract management activities. This budget may need to be supplemented during major change events.
In addition, expert resources may be sourced from the public sector, such as:
• DTF;
• Treasury Corporation of Victoria (TCV) - financial modelling and invoice payments;
• Victorian Managed Insurance Authority (VMIA) - insurance advice; and
• Valuer-General Victoria (VGV) - valuations advice.