• Is the proposal part of the existing strategy?

• Is the strategy still applicable?

• If it is not part of the existing strategy, why are management submitting this proposal?

• If reasons are substantive, then should we review the existing strategy?

• Are the financial requirements of the proposal clearly articulated?

• What effect will this project, if approved, have on our cashflow?

• Are there robust financials giving various scenarios supporting the proposal?

• Where necessary, has an independent financial due diligence been completed?

• Have the significant strategic risks been identified?

• Are there alternative proposals that may achieve a better result?

• Have all significant operational risks been identified?

• Have appropriate risk management decisions been made in relation to these risks?

• Have the benefits and disadvantages of the proposal been clearly identified?

• Have all appropriate areas of due diligence been completed using external resources where necessary?

• Have all regulatory (including ACCC) issues been considered?

• Has third party information been used to test market key assumptions?

• How will members receive the decision?

• If there are concerns, how are they to be managed?

• Are there any other stakeholder issues that need to be managed (e.g. participants, customers, staff and suppliers, communities, funders)?

• Are there other ways of constructing the proposal to enhance market perceptions?

• Will LA’s values be compromised?

• If the decision became front-page news, would it embarrass the LA or Directors personally?

• If the decision involves other regions or communities are there any ethical or social responsibility questions?

• Will the environment be compromised?

• What effect will the transaction have on the asset base?

• Does our current management have the competencies and resources to successfully implement the decision?

• If alternate resources are required are they easily obtainable?

• What effect will the decision have on other resources, including technology, premises etc?

• Does the proposal provide potential synergies with the existing business?

• Have the benefits derived from this synergy effect been clearly articulated?

• Are there any other future developments that may enhance the synergy effect further?

• Does the proposal clearly highlight the financial and non-financial outcomes?

• How does the proposal create value for members?

• Is there a clear mechanism to monitor/measure the value created through implementation of the proposal?

• Does the proposal consider a “worst case scenario” in the event of failure?

• Are contingency plans detailed?

• Does the proposal outline Board monitoring mechanisms?

• Do the monitoring mechanisms include

o Regular reporting timelines

o Progress reports covering:

▪ Achievement of benefits

▪ Risk profile and management

▪ Expenditure variations

▪ Timeline variations

▪ Any other concern