Editor’s Note: CRE in engaged in a long-term project analyzing the centralized regulatory review function in Brazil and the UK. As part of this project, CRE highlights HM Treasury’s just-released binding guidance document, The Green Book: Appraisal and Evaluation in Central Government along with its associated business model guidance and templates and its supplementary guidance for specialized purposes, such as assert valuation, discounting and risk. Below is HM Treasury’s overview of The Green Book followed by a brief excerpt from its Preface.
From: HM Treasury
The Green Book is guidance for central government produced by the Treasury on how publicly funded bodies should prepare and analyse proposed policies, programmes and projects to obtain the best public value and manage risks.
It also covers the evaluation of policies programmes and projects after they have been implemented to find out how well they have achieved their original objectives and how well they have delivered within their original budgets and planned timescales.
The Green Book guidance on assessing public value and risks applies to proposals and decisions about both spending public money and to changes in regulation.
Appraisal, done properly, is not rocket science, but it is crucially important and needs to be carried out carefully. Decisions taken at the appraisal stage affect the whole lifecycle of new policies, programmes and projects. Similarly,the proper evaluation of previous initiatives is essential in avoiding past mistakes and to enable us to learn from experience.The Green Book therefore constitutes binding guidance for departments and executive agencies.
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