A framework for broader performance monitoring and reporting for Partnerships Victoria projects can be built around three essential steps:
Step 1: Understand the private party's business (that is, understand the factors that will influence the private party's strategic and project-level performance).
Step 2: Analyse the underlying quality of the project measured in terms of:
• financial health of the project 'business';
• management quality;
• government party's relationship with the private party;
• service performance trends; and
• asset maintenance.
Step 3: Determine the reporting requirements for the project, including both hard data and soft data. The sources of this data should be identified.
These steps should be taken early in the procurement phase to enable the private party's reporting requirements to be included in the draft project deed provided to bidders in the request for proposal. As discussed above, not all the data of interest to the contract director will be provided by the private party under the project deed. The contract director will also need to collect some data (particularly soft data) from other sources.