Overview
We’re also making improvements in our investment decision making system. These changes are in response to a review that was carried out in 2015 by the Ministry of Transport, Treasury and the Transport Agency.
This isn’t a complete overhaul of the investment decision making system, but rather incremental changes to the way we make investment decisions.
One of the components of this work is redesigning the Investment Assessment Framework (IAF) in time for the 2018-21 NLTP.
The redesigned IAF has been developed to give effect to changes signalled in the engagement draft of the Government Policy Statement on Land Transport for 2018/19 to 2027/28 (GPS), andframework will provide greater clarity and transparency around investment criteria and decisions for everyone involved in the investment process. It will remove any overlap between investment assessment criteria and make the criteria, and how they are applied, easier to understand.
It will also provide greater clarity about how investment decision making and the Business Case Approachbusiness case fit together.
KeyOther improvements to the IAFframework include moving from a threechanging the strategic fit to two factor assessment,recognise both short and removing the effectiveness factor which is more fully considered within the Business Case Approach. These are supported by the Transport Agency’s Assessment of the Business Case which considers the supporting evidence for investment proposalslong term national and how well the principles of the Business Case Approach have been applied. We continue developing our assessment criteria and will provide further information on these shortly.regional outcomes.
We expect aour staff, as well as our broad range of stakeholders, our Minister, the Ministry of Transport, and our investment partners and the sector, to benefit from these changes. We're usingSector input from the sectoris helping to help shape the final IAF design.
Current progress
On 13 March we shared the initial draft IAF with our stakeholders. The draft IAF is our initial interpretation of the GPS, and is subject to further changes based on sector feedback on the GPS, which we currently anticipate will be finalised in the second half of 2017.
We have released the draft IAF to our investment partners to provide as much time and certainty as possible, and to enable our stakeholders to develop and deliver proposals and programmes that support the delivery of the 2018-21 NLTP.
We welcome your feedback on the IAF, please email feedback or questions to nltp@nzta.govt.nz at the latest by 5 pm, Friday 7 April 2017.
As part of the IAF we have reviewed the investment assessment criteria and guidance for road maintenance programmes to address feedback we received in 2016 relating to the draft proposal to embed the One Network Road Classification (ONRC) into the investment decision making process.
We have also developed a set of frequently asked questions to support practitioners through these changes.
Key documents
- Draft IAF for the 2018-21 NLTP
- Applying the Draft IAF to Road Maintenance
- FAQs - IAF for the 2018-21 NLTP
Contact us
Contact us
Your feedback isYour feedback is important to us. If you’d like to know more or have some feedback let us know.know.