PRINCE2recommends that projects have a project assurance team to assess progress and status independently of the project team itself. This verifies that the project is being reported accurately. Without this, reality and progress reports can drift apart dangerously.
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 impartial assurance of a project's status and progress against plan. This includes 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 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 success of your projects, knowing there is no concealing of problems.
Case Study: Oppenheimer Capital, New York
The acquisition of Oppenheimer Capital required a due-diligence review of a major compliance programme mandated by the Security and Exchanges Commission. We audited the programme, having recently completed two similar projects successfully:
understanding the approach 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 programme.
Andrew Wright, backed by the Company President, allocated detailed responsibilities to all the senior managers and explained why the new approach had to be adopted. The new approach was adopted wholeheartedly.
The target was met and the company retained its SEC license, with Andrew thanked for his sensitive and non-confrontational approach.