One of the most important decisions that needs to be taken is whether the public authority intends to continue to use and operate the assets, or whether it intends to vacate and dispose of them.

Within this decision-making process is the consideration of an extension of the existing arrangements or a re-procurement, to look for someone else to manage and maintain the assets into a future lifecycle.

Unless the authority has decided to cease provision of the services, consideration of the future for the assets will require a full appraisal of all options available. If the ownership of the assets does not revert automatically to the public authority, it is important to understand the options available under the contract and the financial implications, including the cost of terminating leases or acquisition of the assets. Options may also include alternative uses of the assets which may create different revenue and expenditure opportunities and risks.

The authority should undertake and explore:

► preparation of options' appraisals

► preparation of business cases and internal reports

► procurement of new project or implementation of replacement contracts

► assurance reviews and health checks to make sure any re-procurement is on track and will deliver successfully on time and on budget