Investment assurance work programme development

Introduction

The investment assurance work programme is put together each year by the Investment Assurance Team of NZ Transport Agency(Planning & Investment).

This page explains how the work programme is put together for assurance monitoring, investment audits, and post implementation reviews. This includes:

• what factors are considered in selecting which approved organisations, NZ Transport Agency(state highways) offices, projects, programmes, or topics to audit or review,
• who is consulted as part of putting together the work programme, and
• how the programme is publicised each year.

Assurance monitoring topic selection

Assurance monitoring examines specific aspects of planning and investment processes. The Investment Assurance team consults with other parts of NZ Transport Agency(Planning & Investment) each year to identify which activities to target for review.

Investment audits – entity selection

The Investment Assurance team aims to complete an investment audit of every approved organisation within each three year National Land Transport Programme Interrelated and complementary combination of activities that, when delivered in a coordinated manner, produce synergies – can span more than one work category and more than one activity class, e.g. a programme could include a road improvement and public transport improvement activities. (NLTP A National Land Transport Programme Interrelated and complementary combination of activities that, when delivered in a coordinated manner, produce synergies – can span more than one work category and more than one activity class, e.g. a programme could include a road improvement and public transport improvement activities. adopted by the NZTA under section 19 of the LTMA, as from time to time amended or varied ) cycle.

Around 25 investment audits are done each year, with a proportion of these – around ten – also including a technical review of the road network.

The following criteria are used to select which approved organisations (or NZ Transport Agency(state highways) offices) to audit:

• the level of NZ Transport Agency’s funding to the approved organisation in the current year
• length of time since the previous audit, and
• any known issues or risks.

NZ Transport Agency(Planning and Investment) regional and national office staff are consulted as part of the selection process.

All approved organisations are notified by general circular at the beginning of the financial year of the finalised work programme of investment audits.

An auditor will contact each approved organisation in the finalised programme 4-6 weeks ahead of a planned audit to arrange a visit date and request that certain information is made available for the audit.

Post implementation reviews – project/package selection

A sample of post implementation reviews are done each year selected from funded activities/programmes/packages that have been substantially complete for at least two years. This makes it more likely meaningful assessment of how well they have achieved their expected benefits can be done.

Other factors taken into consideration when selecting activities/programmes/packages for review include:

• Having a range of activities/programmes/packages by size and cost
• Covering a mix of different work categories
• Ensuring some safety and travel time improvement activities/programmes/packages are included.

Current work programme

Approved Organisations and NZ Transport Agency(state highways) are notified of the finalised investment assurance work programme by general circular at the beginning of each financial year.