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This page provides an overview of the Investment Assessment Framework (IAF), its key principles and fit within Waka Kotahi NZ Transport Agency's investment decision making framework.
The Investment Assessment Framework links to Waka Kotahi NZ Transport Agency's Business Case Approach in that the principles of the Business Case Approach apply to all types of activities, be they improvements, continuous programmes or plans, with the framework applied at appropriate planning and investment decision gates.
General requirements that must be considered when developing and assessing improvement proposals
Waka Kotahi NZ Transport Agency's 2018–21 NLTP Investment Assessment Framework is used to assess investment proposals under two factors - results alignment and cost-benefit appraisal. The combination of the ratings provided for the factors is the assessment profile, which forms the basis for Waka Kotahi prioritisation and investment decision making.
Incremental assessment based on the full assessment profile is required to be used to assist option selection optimise programme business cases and evaluate proposed scope changes and applications for targeted enhanced rates.
Activities proposed for inclusion in the National Land Transport Programme and subsequently seeking funding from the National Land Transport Fund are prioritised based on their assessment profiles, and taking into account their funding source. An investment threshold is set for each activity class and those activities with a lower priority will, as a rule, not be accepted or funded as part of the programme.
Robust assessment of projects and programmes is vital to help ensure delivery of the outcomes forecast from investment proposals in a way that provides value for money.
Information on the urgency to address the issues identified in the strategic case, which will be used to assess the activities for inclusion in the 2018–21 NLTP.
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