The NZTA is transitioning to a Business Case approach for transport planning and activity development. The Business Case approach is being promoted by the New Zealand Treasury to achieve good investment decisions and provide confidence to decision makers that investing in a proposed programme or project is justified because:
- There is a compelling case for change (Strategic case)
- The way forward optimises value for money (Economic case)
- The potential deal with the market is commercially viable (Commercial case)
- The proposal is affordable (Financial case)
- The proposal can be delivered successfully (Management case)¹.
The Business Case approach ensures early collaboration between stakeholders and progressive development of a robust, evidence based investment case. It progressively builds an investment case by:
- Identifying the key problems or opportunities
- Identifying the consequences of not addressing or realising these
- Identifying the benefits to be gained by investing in their solution or realisation.
To deliver on the strategic direction detailed in this Strategy the possible projects listed in this section will be further investigated by the DCC, in collaboration with partners and key stakeholders, through a Programme Business Case. Projects that are found to have merit, and warrant being taken forward for further investigation or implementation will be put forward for consideration and wider community consultation through the Long Term Plan process. It is envisaged this process will be iterative and the Long Term Plan may also feed back into further Business Case investigation.
Footnotes
- New Zealand Treasury National Infrastructure Unit (2013) Online: www.treasury.govt.nz/information-and-services/state-sector-leadership/investment-management/better-business-cases-bbc