The magnitude of the State’s ambitious infrastructure program means that a focus on ensuring major projects are delivered in a timely and cost-efficient way is critical. To ensure there is better oversight of the state's infrastructure program, the NSW Government has implemented 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 three pillars:
- project monitoring
- regular project reporting
- expert and independent Gateway Reviews and Health Checks.
This tiered, risk-based approach to the assurance evaluating 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.
Questions or comments?
For more information on project assurance managed by Infrastructure NSW, please contact email@example.com.
Elements of Investor Assurance