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From push to pull – the role of
assurance in delivering capital
program outcomes
Presentation to the Association for Project Management
Neal Argent and Matt Henderson
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 1
Some common perceptions of assurance
Assurance is
disruptive to
my team
They are telling me
nothing I don’t
already know
We need a
strategy to get
through the audit
We are in a period of
flux therefore can we
defer
We feel
threatened by
the review
Someone else
reviewed this
last month
The report is
too negative
It’s backward
looking and
retrospective
It’s a tick box
exercise
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 2
Business causes of capital program failure
The program is not
affordable
Organisation is not fit for purpose
Commercial strategy
drives the wrong
behaviours
Poor data management
leads to inaccurate
reporting and bad
decisions
Gaps in program
management and controls
capability
Risk management and governance
of decisions is not effective
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 3
Assurance as a catalyst to improve program
performance
Assurance needs to be forward looking to keep a program
out of trouble
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 4
Profiling assurance across the lifecycle
Risk
Levelof
Assurance
Time
Ability to
influence
Expenditure
1. Outcome
Definition
2.
Feasibility
3. Concept
Design
4. Detailed
Design
5. Delivery 6. Project Close
Project
Initiation
Strategic
Business
Case
Outline
Business
Case
Full
Business
Case
/ Investment
Decision
Commissioning
Closure
Paper
Assurance effort is often focussed during delivery and yet
successful outcomes are influenced more at the front end
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 5
The role of assurance and the 3 lines of
defence
Program assurance functions
Senior Management
Delivery
management
Corporate
audit
External audit
3rd Line:
Independent
Assurance
2nd line:
Management
Assurance
1st line:
Management
Controls*
Program and
project
management
3Lines of Defence distinguishes between management assurance
and assurance delivered independently of management
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 6
Coordinating assurance effort across the 3
Lines of Defence
2nd
Line of Defence –
Assurance
1st
Line of Defence –
Management Controls
Project Risk profile
3rd Line of Defence –
Independent Audit
2nd
line provides support direct to 1st
line.
2nd
line provides a functional report to 3rd
line to monitor integrity of advice.
Scalable resource base
3rd Line:
Independent
Assurance
2nd line:
Management
Assurance
1st line:
Management
Controls
1. Outcome
Definition
2.
Feasibility
3.
Concept
Design
4.
Detailed
Design
5. Delivery
6. Project
Close
Risk-based
The 2nd Line of Defence should keep the 1st Line focussed
on delivery
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 7
A risk-based approach to Assurance
1. Outcome
Definition
2. Feasibility
3. Concept
Design
4. Detailed
Design
5. Delivery 6. Project Close
Gaps and overlaps in assurance can result from an
unstructured approach
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 8
From push to pull…
Assurance Maturity
Basic Moderate Complex / Comprehensive
► Compliance reviews
► Focus on technical /
quality assurance
► Layering of assurance
- potential assurance
gaps and overlaps
► Limited reporting and
follow-up
► Low level Board
visibility
► A ‘tick box’ exercise
► Viewed as unpopular
and disruptive
► Project Governance and
Assurance established
► Risk-based techniques
introduced
► Coordinated and
integrated assurance
planning
► ‘Continuous
Improvement’ / follow-up
techniques introduced
► Self assurance
► ‘Technical’ assurance as
a component of integrated
‘Business’ assurance
► Golden thread from
assurance to decisions.
► Value-rich analytical
techniques
(benchmarking, analytics)
► A ‘pull’ not a ‘push’
► Open transparent culture
A mature assurance approach will improve performance
resulting in a ‘pull’ from management
15 May 2015
From push to pull – the role of Assurance in delivering
capital program outcomes
Page 9
Wrap up – developing capability to assure
proven ‘business’ risks
• Of 365 megaprojects, 64% are facing cost
overruns
• 73% report schedule delays
• “65% of projects failures are due to softer
aspects such as people, organisation and
governance”
Thank you
EY | Assurance | Tax | Transactions | Advisory
Ernst & Young LLP
© Ernst & Young LLP. Published in the UK.
All Rights Reserved.
The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales
with registered number OC300001 and is a member firm of Ernst & Young Global Limited.
Ernst & Young LLP, 1 More London Place, London, SE1 2AF.
ey.com
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and
quality services we deliver help build trust and confidence in the capital markets and in economies
the world over. We develop outstanding leaders who team to deliver on our promises to all of our
stakeholders. In so doing, we play a critical role in building a better working world for our people,
for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the
member organizations of Ernst & Young Global Limited, each of which is a
separate legal entity. Ernst & Young Global Limited, a UK company limited by
guarantee, does not provide services to clients. For more information about
our organization, please visit ey.com.
This material has been prepared for general informational purposes only and is not intended to
be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for
specific advice.

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The role of assurance in delivering capital program outcomes_Neal Argent Ernst&Young

  • 1. From push to pull – the role of assurance in delivering capital program outcomes Presentation to the Association for Project Management Neal Argent and Matt Henderson
  • 2. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 1 Some common perceptions of assurance Assurance is disruptive to my team They are telling me nothing I don’t already know We need a strategy to get through the audit We are in a period of flux therefore can we defer We feel threatened by the review Someone else reviewed this last month The report is too negative It’s backward looking and retrospective It’s a tick box exercise
  • 3. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 2 Business causes of capital program failure The program is not affordable Organisation is not fit for purpose Commercial strategy drives the wrong behaviours Poor data management leads to inaccurate reporting and bad decisions Gaps in program management and controls capability Risk management and governance of decisions is not effective
  • 4. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 3 Assurance as a catalyst to improve program performance Assurance needs to be forward looking to keep a program out of trouble
  • 5. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 4 Profiling assurance across the lifecycle Risk Levelof Assurance Time Ability to influence Expenditure 1. Outcome Definition 2. Feasibility 3. Concept Design 4. Detailed Design 5. Delivery 6. Project Close Project Initiation Strategic Business Case Outline Business Case Full Business Case / Investment Decision Commissioning Closure Paper Assurance effort is often focussed during delivery and yet successful outcomes are influenced more at the front end
  • 6. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 5 The role of assurance and the 3 lines of defence Program assurance functions Senior Management Delivery management Corporate audit External audit 3rd Line: Independent Assurance 2nd line: Management Assurance 1st line: Management Controls* Program and project management 3Lines of Defence distinguishes between management assurance and assurance delivered independently of management
  • 7. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 6 Coordinating assurance effort across the 3 Lines of Defence 2nd Line of Defence – Assurance 1st Line of Defence – Management Controls Project Risk profile 3rd Line of Defence – Independent Audit 2nd line provides support direct to 1st line. 2nd line provides a functional report to 3rd line to monitor integrity of advice. Scalable resource base 3rd Line: Independent Assurance 2nd line: Management Assurance 1st line: Management Controls 1. Outcome Definition 2. Feasibility 3. Concept Design 4. Detailed Design 5. Delivery 6. Project Close Risk-based The 2nd Line of Defence should keep the 1st Line focussed on delivery
  • 8. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 7 A risk-based approach to Assurance 1. Outcome Definition 2. Feasibility 3. Concept Design 4. Detailed Design 5. Delivery 6. Project Close Gaps and overlaps in assurance can result from an unstructured approach
  • 9. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 8 From push to pull… Assurance Maturity Basic Moderate Complex / Comprehensive ► Compliance reviews ► Focus on technical / quality assurance ► Layering of assurance - potential assurance gaps and overlaps ► Limited reporting and follow-up ► Low level Board visibility ► A ‘tick box’ exercise ► Viewed as unpopular and disruptive ► Project Governance and Assurance established ► Risk-based techniques introduced ► Coordinated and integrated assurance planning ► ‘Continuous Improvement’ / follow-up techniques introduced ► Self assurance ► ‘Technical’ assurance as a component of integrated ‘Business’ assurance ► Golden thread from assurance to decisions. ► Value-rich analytical techniques (benchmarking, analytics) ► A ‘pull’ not a ‘push’ ► Open transparent culture A mature assurance approach will improve performance resulting in a ‘pull’ from management
  • 10. 15 May 2015 From push to pull – the role of Assurance in delivering capital program outcomes Page 9 Wrap up – developing capability to assure proven ‘business’ risks • Of 365 megaprojects, 64% are facing cost overruns • 73% report schedule delays • “65% of projects failures are due to softer aspects such as people, organisation and governance”
  • 12. EY | Assurance | Tax | Transactions | Advisory Ernst & Young LLP © Ernst & Young LLP. Published in the UK. All Rights Reserved. The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC300001 and is a member firm of Ernst & Young Global Limited. Ernst & Young LLP, 1 More London Place, London, SE1 2AF. ey.com About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member organizations of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.