Latest major projects interim report released
Latest major projects interim report
released
The Government
has released the Major Projects Performance Report for the
period November 2016 to March 2017, covering 55 complex
major projects across government with a whole of life cost
of $38.5 billion.
“The Investment System is continuing to mature with an increasing focus on realising the benefits of investment, and addressing risks before they turn into issues,” says Finance Minister Steven Joyce. “The portfolio as a whole continues to perform as expected.”
“Through this regular assessment, the Treasury aims to improve visibility of challenges and potential risks on projects where significant public funds are being invested,” says Mr Joyce. “It is my clear expectation that the public sector continue to focus on lifting productivity as a result of these investments so we can do more to help New Zealanders.”
The portfolio continues to perform well with 91 per cent of projects rated Amber or better, over half of the major projects are rated Green or Amber/Green, only nine per cent is rated Red or Amber/Red over this period.
Ratings
November
2016 April
2017
Red 1 2
Amber/Red 4 2
Amber 15 18
Amber/Green 29 27
Green 3 3
Exited 2 -
Not
Assessed - 1
The Red or Amber/Red
rated projects are:
• Māori Land Service
Programme – Te Puni Kokiri (Red)
• ANZAC
Frigate Systems Upgrade – Defence (Red)
• 2018
Census Programme – Stats NZ (Amber/Red)
•
Lincoln University/AgResearch Joint Facility – Tertiary
Education Commission (Amber/Red).
Major projects are a
collection of the most challenging projects Government
agencies are currently undertaking. A red or amber/red
rating is not uncommon during the life cycle of these large
scale projects and highlights that there are issues or risks
that are either being addressed or need to be addressed to
ensure the project is delivered successful. Project
governance teams are working with central government
agencies to resolve those issues.
The interim report can be found at http://www.treasury.govt.nz/statesector/investmentmanagement/publications/majorprojects