to investigate and scrutinize individual and specific public capital expenditure projects.
[a] to inquire into, consider and report on any public work referred to it by or under this Act, including:

1. the stated purpose of the work;
   
2. the necessity or advisability of constructing it;
   
3. where the work purports to be of a revenue-producing character, the revenue that it might reasonably be expected to produce;
   
4. the present and prospective public value of the work;
   
5. the recurrent or whole-of-life costs associated with the work, including costs arising out of financial arrangements;
   
6. the estimated net effect on the Consolidated Account or the funds of a statutory authority of the construction and proposed use of the work;
   
7. the efficiency and progress of construction of the work and the reasons for any expenditure beyond the estimated costs of its construction;
   

[b] to perform such other functions as are imposed on the Committee under this or any other Act or by resolution of both Houses.