Andy Murray, the Executive Director of the Major Projects Association, speaks to an audience that includes many practitioners. Here's the content breakdown:

Practitioner Perspective: He starts by acknowledging the practitioner's point of view, suggesting that they have significant experience and knowledge in the subject matter.

Audience Presence: He notes that there are many practitioners either on the call or present in Auckland, emphasizing the importance of tailoring his message to an informed audience.

Communicating to Policy Makers and Funders: Andy touches on the challenge of explaining certain techniques and methods to policy makers and those who provide funding.

Project Tranches: The conversation shifts to a more specific topic of "tranches" or phases in project management. He mentions that what they're committing to at this moment is only the current tranche or phase.

Flexibility in Funding and Execution: Andy describes the possibility that after completing one tranche, they might decide to either halt the project (stand it down) or continue with further investments for the subsequent phases (second and third tranche). The decision will likely be based on the results or circumstances of the current tranche.

Pivoting: He ends by highlighting the ability to pivot, suggesting that depending on the outcomes and learnings from one tranche, the direction or strategy might change for subsequent phases.

In essence, Andy underscores the importance of flexibility in major projects and the need for clear communication with stakeholders, especially when the next steps of a project depend on the outcomes of its current phase.