Further information to support practitioners in the design phase (i.e. steps 5 and 6) can be found in the Running a Conservation Tender fact sheet and the Conservation Tender guidelines or by using the Little Orange Book to contact an MBI practitioner.

A description of the decision support tool

The first two steps in the tool are steps that are part of any good policy design, regardless of whether a MBI is being considered. The first step is focused on gaining a better understanding of the NRM issue being faced, the broad policy context and the current scientific understanding and data requirements. The second step considers whether policy intervention is warranted, and when an MBI may be more suitable than a regulation. The third step, which is the main component of the decision support tool, is the decision tree. It is aimed at helping the NRM manager select the appropriate type of MBI by using a series of questions with different pathways depending on the responses. The fourth step is concerned with assessing a short list of instruments obtained from the third step. The fifth and sixth steps are focused on designing and implementing the chosen MBI.

Integrating consideration of MBIs into the range of policy options available to government is a key challenge for market-based approaches to take greater hold in the mainstream of policy approaches. Regulatory reform and review processes often provide the opportunity to consider alternative options to achieve desired outcomes.