What is Project Assurance
Project Assurance is the independent oversight of a project that uses project management disciplines to critically assess current and future performance. It can encompass the complete project life cycle or focus on specific elements – project feasibility, pre-construction, project launch (mobilization), project execution and project completion.
Project Assurance involves a 360 degree review of the management of the whole enterprise including project management, stakeholder management, procurement, design, commercial, contractual, financial, execution, subcontracting, planning and controls, people management - the performance of which is critical to a successful project outcome.
It provides a comprehensive, accurate and unbiased insight along with the identification of potential risks and issues early to enable improved decision-making.
Corrective actions and recommendations to reduce or eliminate risk and uncertainty are provided to stakeholders improving confidence that the “best possible” outcome will be achieved.