1. Value Assurance
Program / Project Assurance (PA) provides objective oversight of the likely future performance of programs and projects for those responsible for sanctioning, financing, endorsing or insuring such undertakings. It is particularly well-suited for projects with a key financial decision point beyond which revisions become exceptionally expensive.
Mega-Project Assurance is specific to Portfolios, Program, and/or Projects that exceed $1 Billion in estimated investment value. Various sources quote: “The core concepts of Mega Project Assurance: risk is governable, leadership is accountable, cost must be properly managed and is recoverable, efficiency is attainable, fraud and waste are nearly preventable, and failure is unacceptable.”
For a program of sub projects, a gateway review process provides for a series of short, focused, independent expert reviews, held at key decision points in lifecycle. Gateway reviews are appraisals that highlight risks and issues, which if not addressed may threaten successful delivery. Reviews are conducted by experienced review personnel who typically critique a range of technical aspects. The independence of such a review is key to delivering objective, high quality reviews and review reports.