1. Audit context

Victoria has a range of laws and regulations that govern the planning and conduct of commercial timber harvesting operations. These laws seek to ensure that harvesting is sustainable and that environmental, economic and social values of Victoria's native forests are protected for future generations.

VicForests is the state-owned business responsible for harvesting, selling and regrowing of timber. OCR regulates VicForests’ timber harvesting operations.

2. Exploring major project data

We surveyed 13 entities to get information on how 102 major projects (with a TEI of $100 million or more) are performing against their expected cost, timeframes and scope. 

This includes 11 new projects, 82 existing projects and 9 completed projects that are collectively worth $99.8 billion. 

This chapter explores changes to these projects' cost, time and scope to date.

We collected information on each project’s key documents, such as business cases and benefits management plans.