Understanding the benefits of major projects

Why this is important

Governments need to measure and report on the benefits of large, publicly funded projects to be transparent about the value they deliver. 

Victoria's capital investment lifecycle includes benefits management principles. But in practice, departments apply these principles inconsistently. This means there is a risk that the government does not know what benefits major projects have delivered and how they compare to those it expected. 

It is important that the government robustly identifies and tracks the benefits of capital projects, because they make up a large share of government spending that could otherwise be used to deliver services.

This engagement will report on the value delivered by recent investments in large capital projects and identify approaches that may be used for wider learning within the government.

What we plan to examine

We plan to examine if government entities responsible for a selection of major asset investments have effectively defined and measured project benefits.

Who we plan to examine

A selection of departments, agencies and associated entities