When the solution is being implemented the project team will be focusing on managing the project delivery, but the investor needs to be monitoring more than just schedules and budgets.
This broader governance focus is on:
- whether the solution is and remains robust in the period before moving into operation;
- how ready the organisation is to implement the business changes that occur before and after delivery;
- the effectiveness of contract management arrangements that are in place or being arranged; and
- whether there is a basis for evaluating ongoing performance.
Outputs for delivery to government
Project reporting continues in this stage of the lifecycle, and you are required to submit project status reports to the Department of Treasury and Finance (DTF) to monitor the project’s implementation.
Investment reviews are conducted at predetermined time intervals during the project delivery phase in the investment lifecycle, with the objective to determine whether the logic for the investment remains valid.
This information, considered with budget and schedule information, then allows the investor to make informed decisions regarding the future of the investment. Where it is found that an investment solution is no longer valid or viable, we recommend you contact your DTF representative.
It may be appropriate to go back to government to obtain a decision to either continue to implement the planned solution, to change the previous solution or to discontinue the investment.
High Value High Risk investments
A Gate 5: Readiness for service review must be undertaken during implementation and prior to handover respectively.
Role of the investment management standard (IMS)
Agencies may use the IMS investment review tool (coming soon) to confirm that the investment logic remains valid and the investment solution remains viable.