Why Project Assurance
Collaboration and Co-operation
Sharing of skills, resources, experience and lessons learned within and across the government sector and various portfolios – including where risks are realised.
Effective Use of Resources
Use a risk-based approach orienting higher levels of assurance and resources towards high risk and high priority projects.
Continuous Improvement
Monitoring and reporting allows a lessons learned approach, allowing capital planning and procurement models to be adjusted over time.
Visibility
Provide transparency over time, cost, quality and scope performance – as well as emerging risks and benefits achieved.
Informed Decision Making
Greater analytic support for the Government as an investor, before and after an investment decision has been made.
Stakeholder Confidence
Improve public confidence in government project planning, cost estimates – and in achieving overall value for money.
5-Step Project Assurance Review Process
Prepare
- Agree on the scope of the engagement with sponsor
- Request relevant collateral
- Agree on stakeholders and plan interviews
Review
- Review collateral
- Conduct interviews
- Establish baselines
- Identify areas for further investigation
Assess Performance
- Assess outcomes against objectives and intent
- Assess functional effectiveness, including structures, roles and processes
Validate
- Capture lessons learnt and outline recommendations
- Validate findings with stakeholders
Report
- Prepare final report including findings, themes for improvement, areas of success and recommendations for the future
- Present report
- With Continuous Assurance (below), review lifecycle or portfolio trends that require prioritised action.