Those would be the two most important factors, but there are others. Size—people have different views, and it's a bit different depending on the sector. You've got to think of size, both capital costs and operating, but less than $50 million of capital cost. Why is that? That's both a question of the transaction costs...so there's the same sort of bid cost to these kinds of things, whether it's a $200 million project or a $50 million project.
To attract the interest of the private sector and really get good competition and to really justify the incremental transaction costs—which is part of the weighing of these kinds of things—it has to be of a certain type of scale.
The second one is risk. That's complexity, but what is the risk to the private sector? Partly it's complexity and partly it’s correlated with scale. Large projects tend to be riskier, but risk is also a question of experience. If it's a project you don't do very often—for example, you're a regional health authority and you build a hospital once in a generation—it is probably better to engage somebody who has built 50 hospitals rather than learning on your own. So it's your own expertise in being able to deliver that.