The purpose of the Infrastructure Australia Assessment Framework is to reduce risk while ensuring infrastructure investment can return the planned economic and social benefits. It does this by using best practice project assurance and evidence-based decision-making, and by applying lessons from similar projects.
The process benefits all stakeholders.
It provides the Australian Government with a clearer view of the economic and social viability of project proposals and their deliverability.
It provides taxpayers with confidence and helps to build social licence.
It can provide industry and project proponents with increased confidence about approaches, assumptions, risks, and benefits.
It can also help ensure lessons from previous projects have been considered and incorporated.
The Australian Government could leverage the Framework further by supporting a stronger role for Infrastructure Australia that involves working more closely with state and territory governments to develop project options. This would also ensure greater rigour, transparency and accountability when assessing such proposals outside normal procurement processes.