‘The future prosperity of our regions will be enhanced by our ability to find faster and smarter ways to unlock local employment growth and sustainable economic development.
With the completion of the National Stronger Regions Fund’s Round One announcements and the opening of Round Two applications, there are great opportunities for local communities to develop project proposals that may support local economic growth and help realise each region’s potential.
Championing change can be challenging but it is vitally important if we are to create a more sustainable economic future for regional communities.
It is pleasing to see the RDA Darling Downs & South West initiating this forum to support local leaders in their preparation of regionally significant projects proposals, and I encourage local leaders and those with a keen appetite for creative thinking and innovation to consider taking part in the upcoming forum.
I wish all those attending a rewarding and informative event’.
Warren Truss MP
Deputy Prime Minister and Minister for Infrastructure and Regional Development
“We need to ensure that regional programs support future growth and infrastructure investment strengthens the heart and soul of diverse community’s spread across our region. It is vitally important that we encourage growth that reflects local aspirations and provides long term social and economic benefits for all communities.”
Vic Pennisi – Chair RDA Darling Downs & South West
“Funding is getting more and more difficult to secure and the demand for collaborative investment partners in government programs is increasing. A key success factor in the future will be the ability to identify the local project ideas with the best potential for funding and developing a business case that is attractive for investment “ Robert Prestipino one of the developers of the Regional Solutions Framework.
"Championing change can be challenging but it is vitally important if we are to create a more sustainable economic future for regional communities. Darling Downs and South West must seize this opportunity to be innovation ready for collaborative investment “ Vic Pennisi – Chair RDA Darling Downs & South West
"As outlined in the RDA Round One Feedback, we are facing a sharpening of focus towards developing better business cases for infrastructure projects in regional Australia. Funding is getting more and more difficult to secure and the demand for collaborative investment partners is increasing. A key success factor in the future will be the ability to identify the project ideas with the best potential for funding and developing a business case that is attractive for investment. The Right Start Right Project has been developed in response to this growing challenge." Bryan Gray CEO RDA DD&SW
There are three critical questions to consider in regionally significant projects.
Firstly, is this the right project for your region: does it promote growth that strengthens the community by matching the community’s aspirations with the external forces of social and economic change?
Secondly, is the project making the most of local collaborations to build stronger links with adjacent communities and leverage local benefits off larger regional projects?
Thirdly, has the project maximised the local investment opportunities and institutional partnerships across the core community values of business, health, education and lifestyle?
The “Right Start Right Project” one day event provides information, application and discussion of principles across the following six topics:
1. Important Trends
2. Guiding Principles
3. Project Innovation
4. Leadership Activation
5. Investment Partners
6. Project Pathways
The program includes information on trends affecting regional Australia, application of the principles of Regionally Significant Investable Projects and concludes with group discussions around project opportunities and the potential role of the National Stronger Regions Fund as an investment partner.
75% of attendees felt that the workshop helped identify regionally significant projects
92% of attendees reported that the workshop provided a better understanding of the elements that make up an investable business case
Attendee Feedback | Key Learnings & Insights:
- Project management fundamentals
- Leadership and vision – the important of the activity
- Private Partnerships
- Changing models and expectations
- Structured approach to developing a project
- Clarified some of the process we have used in our project.
- Defined process is a good template to improve planning and implementation
- Project methodology – change agents, project sponsors
- More collaboration across three levels of government
- Maximising benefits from regionally significant projects
- Macro trends – new economy in Australian
- Importance of families in local spending and vitality of regional communities
- Start early with consultation and form a project group following consultation
- Identifying the project that will provide the most bank for your buck
- Ensuring economic growth is a quantifiable outcome
- Crowdfunding - very interesting concept
- Focus on core values and bring them together in the business case
- Get the business Plan right before making applications
- Attitude, agility alignment process and framework
- New thinking towards co collaboration partnerships and network advantage
- More toward the lean and simple start up processes
- The right presentation of final application increases the odds significantly
- The world as we know it has changed and governments are very slow to adapt
- Steps in project management – proper stakeholder engagement & securing ongoing support
* Right Start Right Project is the first of a seven stage collaborative investment process within Regional Solutions Framework an initiative of SEGRA, Australia’s premier conference on issues affecting regional Australia.