(1) Where the public-private partnership transaction reaches financial close, a contract manager or contract management team is appointed by the procuring entity, in consultation with the Core Team.
(2) The functions of the contract manager or contract management team are to —
(a) monitor the public-private partnership delivery and risk by ensuring —
(i) that services are delivered continuously and to a high standard, in accordance with the standards contained in the public-private partnership contract,
(ii) that risk allocations are maintained in practice and risks are properly mitigated, and
(iii) that payments or penalties are made according to contractual specifications;
(b) establish and manage contract monitoring arrangements such as periodic reviews of public-private partnership performance by independent consultants, or mechanisms for measuring consumer satisfaction;
(c) manage change by ensuring that external risks and opportunities are identified and changing circumstances are acted on effectively in a way that achieves value for money over the period of the project, and adopting contractually-defined mechanisms to deal with contract adjustments, dispute resolution and public-private partnership contract termination;
(d) manage contract expiry and asset handover by handling the transition of assets and operations at the end of the contract period, including ensuring that conditions on handover meet contractually-required quality and operational standards;
(e) maintain up-to-date project performance information and financial indicators, and make that information available for inclusion in the budget and other Government internal and public reporting as required.