Risk Assessment Vital for Success of Waterview PPP
26 August 2008
Thorough Risk Assessment Vital for Success of Waterview PPP
“A positive step forward.”
Welcoming today’s government announcement that the Waterview Connection could well be New Zealand’s first PPP, project co-ordinator Tony Garnier stressed that the completion goal of 2014/15 for completing Waterview Connection project should be kept firmly in mind.
At the same time, as a pioneering the project which could pave the way for other PPPs in the future such as a new Auckland Harbour Crossing, it is vital that Waterview’s design, management and risk allocation is undertaken carefully and thoroughly.
A critical success factor for putting a PPP platform in place is to ensure that the right groups carry the appropriate risk – consenting is a risk government should probably take, and design, build and construct is an area the private sector may well best carry.
While noting that officials have been asked to undertake further work on project details before formally committing to a PPP for Waterview, it is a confidence boost that the Government announcement today when releasing the Steering Group report has confirmed a firm announcement will be made no later than October or early November at the latest – that is, before the election.”