Step 3:  Validation

It is important to validate the analysis done in step 2 by reference to benchmark projects, both locally and overseas, and by conducting market sounding exercises.

This can help determine the market interest and/or ability in managing risks associated with the project and may inform how the project can be structured to ensure the best possible outcome. Such risks may include interface risks, particularly in instances where development may be occurring on sites involving existing operations.

Consider lessons learned from similar relevant projects.