Common use of Prioritisation Clause in Contracts

Prioritisation. The emerging Growth Strategy identifies the requirement for a broad range of interventions based on local conditions and opportunities. Consequently, there is a need to maintain a balanced programme of investments with linkages between projects or packages of projects. An initial indicative allocation of funding (outputs and impacts) in relation to each project grouping outlined above has been developed for the first five-year Gateway. This has been developed from:  a review of the emerging Growth Strategy and growth barriers/opportunities;  a review of the project pipeline; and  Gain Share economic impact analysis. Within these broad indicative funding allocations for Business Growth and Sector Development; R&D&I; Skills; Transport; Housing; and Regeneration, investments will be prioritised on the basis of a single appraisal approach. An Investment Panel, with external technical advisors, will be responsible for making recommendations on each business case following the appraisal process, to ensure impartiality. The Investment Team and the Investment Panel, will be independent from the individual portfolios to ensure that the project development process and appraisal functions are separated. The consolidated, multiyear transport settlements have, at this stage, been ring-fenced for transport. While the 2016/17 funding has already been approved on a formulaic basis, future funding will be allocated to transport interventions based on the following criteria: contribution to economic growth, strategic transport priorities and wider benefits.

Prioritisation. The emerging Growth Strategy identifies the requirement for a broad range of interventions based on local conditions and opportunities. Consequently, there is a need to maintain a balanced programme of investments with linkages between projects or packages of projects. An initial indicative allocation of funding (outputs and impacts) in relation to each project grouping outlined above has been developed for the first five-year Gateway. This has been developed from:  • a review of the emerging Growth Strategy and growth barriers/opportunities;  • a review of the project pipeline; and  • Gain Share economic impact analysis. Within these broad indicative funding allocations for Business Growth and Sector Development; R&D&I; Skills; Transport; Housing; and Regeneration, investments will be prioritised on the basis of a single appraisal approach. An Investment Panel, with external technical advisors, will be responsible for making recommendations on each business case following the appraisal process, to ensure impartiality. The Investment Team and the Investment Panel, will be independent from the individual portfolios to ensure that the project development process and appraisal functions are separated. The consolidated, multiyear transport settlements have, at this stage, been ring-fenced for transport. While the 2016/17 funding has already been approved on a formulaic basis, future funding will be allocated to transport interventions based on the following criteria: contribution to economic growth, strategic transport priorities and wider benefits.