Department of Treasury and Finance (DTF)
The DTF gives advice to the Minister for Finance about public construction policy. DTF also helps organisations with construction procurement.
Public Construction Procurement Committee (PCPC)
The DTF also manages and administers the PCPC. This committee is set up by the Secretary of the DTF.
The PCPC gives advice to the Minister and Secretary about the Minister's Directions.
The PCPC makes recommendations on:
- Victorian Public Construction Contracts
- commercial positions and limited tendering
- construction policy and procurement best practice
- look at how other Government policies might impact construction procurement
- share information to improve construction policy and procurement
High Value High Risk Framework (HVHR)
The HVHR Framework is the responsibility of the DTF. This framework covers infrastructure and ICT projects identified as high value or high risk. These projects need more scrutiny, approval processes and ongoing involvement by DTF.
A project will be HVHR if it is:
- considered high risk using DTF’s risk assessment tool, the Project Profile Model (PPM)
- considered medium risk using the PPM and has a TEI of between $100 million and $250 million
- considered low risk using the PPM but has a TEI over $250 million
- identified by DTF as needing the attention given to HVHR investments
Areas of extra scrutiny under the HVHR framework may include the requirement for the Treasurer to approve:
- procurement document before release to market
- referred bid contracts before they are signed
- any major variations
Read more about the High Value High Risk Framework
Project Assurance Reviews (PAR)
PARs aim to provide timely independent advice to the sponsoring organisation and DTF on the current progress of the program. They enable government to learn of any concerns about the program’s progress and receive recommendations to improve program deliverability.
For more information about DTF's role in procurement visit their website.