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Do: Investment Implementation

The 'Do' phase is where approved projects or programmes are implemented.


Agencies are expected to apply appropriate project or programme management practices to ensure that allocated funds are used wisely.

The Treasury has a role in monitoring progress and performance for investments that are classified as major according to Cabinet Circular CO(15)5.

Major Projects Monitoring

The aim of monitoring is to provide advice to agencies and Government on the status of major projects and programmes, and to provide appropriate Corporate Centre support, advice and guidance to help projects and programmes succeed.

The Treasury regularly publishes on this page a summary of these major projects monitored by the Treasury - see below.

Cabinet Circular CO(15)5 and the Guidance for Monitoring Major Projects set out:

  • how major projects are to be identified through the government project portfolio and risk profile assessment processes, and
  • how major projects are monitored by the Treasury and other monitoring agencies.

Major projects are usually identified by The Treasury after being assessed as high risk after completion of a Risk Profile Assessment (RPA) tool. There may also be special circumstances where it is agreed that a project with a medium risk profile will be subject to major projects monitoring. For example if a programme is nominated by the responsible minister.

Note that as the Investor Confidence Rating (ICR) is applied to agencies, Government Investment Ministers may take decisions to adjust thresholds for major projects monitoring.  For more information, see the Investor Confidence Rating section.

Monitoring Plans

For every major project that it monitors, the Treasury will develop a monitoring plan.  The intention of the monitoring plan is to clearly define what agencies can expect from the Treasury in executing its major projects monitoring role, and what the Treasury expects from agencies.  A monitoring plan will outline important milestones and expected Cabinet decisions, the frequency of monitoring activities and reviews, and list the key documents, including appropriate business cases to support Cabinet decision-making.  The monitoring plan is developed in consultation with the agency to ensure accuracy. 

A monitoring plan is a living document that is updated as each monitored project or programme moves through its lifecycle, and as risks and issues change. 

ICT-Enabled Projects and Programmes

The Government Chief Information Officer (GCIO), as part of the ICT functional leadership role, has responsibility to Ministers for the coordinated oversight and delivery of system-wide ICT assurance.  For further information, refer to the guidance and templates below.

Reporting on Monitored Projects

The Treasury provides information and advice on the status of major projects to Ministers on a regular basis.  The Treasury also produces a report on the portfolio of monitored projects and programmes three times a year.  The triannual Major Projects Performance Report is provided to Government Investment Ministers, with relevant information copied to responsible Ministers and agencies.

The Government is interested in reviewing the performance of investments against expectations over the project or programme lifecycle.  This doesn’t stop when a project ends, as the realisation of benefits and application of lessons learned are very important parts of the investment management system.  For more information, see the Review phase.

Last updated: 
Thursday, 23 February 2017