Copyright Dynamic Technologies Ltd

PRINCE2 recommends that projects have a project assurance team to assess progress and status independently of the project team itself.  This gives the project board confidence that the project is being reported accurately.   Without this, reality and reports can drift apart dangerously, as layers of spin are placed on reports.

An excellent approach to accurate reporting  is to plan objective progress metrics into the project at set-up, such as earned-value and testable milestones.

We provide an impartial and independent assessment of a project's status and progress against plan, either during a one-off audit, or on a regular basis e.g. quarterly.  This will include a PRINCE2 standard health-check.

We introduce objective progress metrics during the planning phase.

Key Benefits: project assurance

• Projects that are starting to fail are clearly identified early 
• Action can be taken to strengthen the project before the problems are too great
• Third parties e.g. investors, regulators and auditors, have improved confidence in the effectiveness of your projects, knowing there is no covering up of problems.

Project  Assurance

Case Study: Oppenheimer Capital, New York

The acquisition of Oppenheimer Capital by PIMCO required a due-diligence review of a major compliance project mandated by the Security and Exchanges Commission. Andrew was asked to audit the project as he was experienced in this type of compliance, having recently completed two similar projects successfully.  He initially focused on:

• understanding the approach to the project adopted
• determining the true state of progress
• identifying the responsibilities allocated to the key stakeholders

It was clear that business stakeholders had not been engaged and were not contributing to the success of the project.

Andrew, backed by the Company President, allocated detailed responsibilities to all the senior managers impacted by the compliance requirements and explained why the new approach had to be adopted.  The new approach was adopted wholeheartedly.

Outcome

The target was met and the company retained its SEC license, with Andrew thanked for his sensitive and non-confrontational approach.