Much can be learned from the numerous water recycling schemes currently in operation in Australia, especially with respect to making investment decisions based on uncertain assumptions. This paper illustrates through a number of case studies, that by considering the contextual and project related risks, a range of business related risks become apparent. Shifts in the contextual landscape and the various players’ objectives can occur over the life of a project, often leading to unforeseen risk and uncertainty. Through a thorough consideration of the potential risks presented in this paper, proponents as well as owners and managers might make better recycled water investment decisions, enhancing the benefits and minimizing the costs of water recycling schemes. This paper presents an overview and discussion of seven key factors to consider when planning a recycling scheme.

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