A new approach to infrastructure business case development is urgently required if we are to maximise the value of our future investments. Peak association, the Australian Sustainable Built Environment Council (ASBEC) has identified twelve recommendations to reform how governments justify their infrastructure spend.
“Right now, there is a great opportunity to transform infrastructure investment decisions into a model that delivers much broader value for cities and communities.” said Antony Sprigg, Chair of ASBEC’s Infrastructure Working Group and CEO of the Infrastructure Sustainability Council of Australia.
Infrastructure projects are traditionally assessed in ways that don’t fully evaluate all costs, or leverage all benefits and opportunities. Bang for Buck – Delivering better business cases to realise more value from our infrastructure investments outlines practical, common sense recommendations to deliver better outcomes from infrastructure spending.
“There is an abundance of data, information and wisdom that can be more consistently collected and applied, to inform infrastructure decisions that provide great and long-lasting outcomes.” said Antony.
“Tax-payers understand that the everyday amenity and liveability of our cities is in many cases underpinned by the strengths or weaknesses of past infrastructure decisions.” said Jonathan Cartledge, Chair of ASBEC’s Cities Task Group and Head of Public Affairs at Green Building Council of Australia.
“People often evaluate the relative strengths of a city and its infrastructure by the impact it has on their day-to-day lives, not through a cost-benefit ratio,” said Jonathan. “While we need to measure and understand the full range of costs and benefits, we also need methodologies that more effectively communicate these benefits, in order to build social license for ambitious projects.”
Reviewing methodologies and approaches to business case development across government, ASBEC recommends reform across four broad areas:
- Leading with bipartisan vision across all levels of government
- Improving infrastructure decision making
- Understanding the method (and the madness) of business case development
- Engaging the public in the benefits of their infrastructure investment
“In collaboration with government we aim to help deliver better outcomes for communities across Australia, and a better appreciation of the bang they are getting for their infrastructure buck.” said Jonathan Cartledge.
“The starting point is leadership that guides our infrastructure-decision making to a vision of where we want to go.” said Antony Sprigg.
Download the full media release here.