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.
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.