The Department of Infrastructure meets the challenge of developing an integrated program of capital works across all forms of infrastructure using an approach having the following key characteristics: (1) A structured and transparent process; (2) A strategic framework to guide investment priorities; (3) An evaluation framework incorporating clear criteria and standards; (4) Ongoing developments in analysis and techniques; (5) A strategic capital decision support system. This paper outlines the approach and concludes that it has facilitated the: (a) Identification of candidate investment projects within a long term strategic planning framework; (b) The use of clear and decision criteria and evaluation standards, and provision of objective information on investment outcomes. The paper concludes that use of criteria weightings and assessment scores has tended to obscure the central issues and facts, and has therefore been largely ignored in investment decisions; (c) A significant improvement in the consistency and comprehensiveness of investment evaluation; and (d) The development of a strategic capital decision support system to improve the accessibility and presentation of evaluation data. (A)
Samenvatting