Projects must be delivered on time and within budget and meet community expectations for quality and functionality. As they are taking place in established communities, it’s also important to minimise their impact on everyday life and involve local people in the decisions that shape their lives.
Infrastructure NSW works behind the scenes to support these goals. Since 2015, one of our major tools has been the Infrastructure Investor Assurance Framework (IIAF).
The IIAF applies to capital projects with a value of $10 million and above, being developed, procured or delivered by General Government agencies and Government Businesses.
The Assurance Framework consists of:
- project monitoring
- regular project reporting
- expert and independent Gateway Reviews and Health Checks
- Insights sharing and capability building for public sector professionals engaged in the delivery of infrastructure projects
This tiered, risk-based approach to the assurance evaluation ensures that the focus is on the most important and complex projects. The process is confidential to each project, and advice is provided to the NSW Government, as the investor, through regular reporting.
This approach enables “red flags” to be raised and an opportunity for interventions to be ordered to ensure projects are delivered on-time, on-budget, and in accordance with the NSW Government’s objectives.
The IIAF is the applicable Gateway Coordination Framework under the NSW Gateway Policy. The NSW Gateway Policy is administered by NSW Treasury.
The Oversight Framework for the NSW Infrastructure Program has been developed in response to observations from assurance reviews showing that clusters responsible for delivering projects implement a variety of project oversight approaches with mixed results. The Oversight Framework and accompanying Guide aims to improve accountability and transparency in project oversight and decision-making, foster a culture of collaboration and continuous improvement and establish practices to monitor, evaluate financial reporting and performance, staff performance and decision-making effectiveness.
Questions or comments?
For more information on project assurance managed by Infrastructure NSW, please contact email@example.com.