tion to the appropriate fiscal committees of the legislature by September 1, 2007,including:Best practices for managing capital project costs including long-term forecastinginformation for facility preservation, major facility or system replacement, and new capacity toresult in more effective investment decisions for major public facilities and infrastructure;(2) Best practices in the state's capital budgeting process and public works contractingprocedures;(3) Appropriate uses of alternative capital project financing; and(4) Management of risk and reduction of potential claims and litigation associated withstate construction projects, including the enumeration of best practices for the management ofproject risk and conflicts, in order to minimize future expenses related to construction claims.The office of financial management shall collaborate with staff of the appropriate fiscalcommittees of the legislature while collecting this information.
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