There is growing need across fisheries management agencies and the fishing industry for improved cost-effectiveness and greater efficiency. This need stems from unprecedented economic pressures facing the fishing industry at a time when the Government is implementing a harvest strategy policy and ecosystem based fisheries management. These policy directions increase the emphasis on data collection and verification, fishery and stock assessments, compliance and investment in risk management. The cost recovery policy of the Government places added responsibility on AFMA to manage fisheries efficiently and cost-effectively. This project provides an opportunity to examine new business practices and management arrangements that will benefit both AFMA and industry, leading to a more collaborative and/or delegated approach to the management of Commonwealth fisheries. Greater stewardship of fisheries resources is likely to result where management responsibilities are effectively transferred to industry. Furthermore, there is a strong alignment between a cooperating industry, the strengthening of fishing rights, resources stewardship and satisfying key fisheries management objectives. In order to pursue co-management in Commonwealth fisheries, the theoretical bases already established need to be taken further through trialing, testing and evaluation in existing fisheries to determine whether greater efficiency, cost-effectiveness and other benefits can be achieved, compared to current management arrangements (from National Working Group on Co-management Initiative, draft interim report 2007).