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Do: Investment Implementation

Page updated 14 Dec 2017


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 significant 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 significant 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.

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

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

The Treasury may also identify agency projects that are significant through analysis of other data sources, such as four-year plans, long-term investment plans, the capital budget process, or via the GETS (Government Electronic Tenders) system. 
Projects that are identified as significant and requiring monitoring will typically meet any one or more of the following conditions:

  • are assessed as high risk using the Risk Profile Assessment (RPA) tool - this is the primary means of identifying projects that require monitoring.  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
  • have estimated  whole-of-life-costs (WOLC) of $25 million or more, or
  • are nominated for monitoring 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 at

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.

Related Resources

The documents listed here are available in Adobe PDF format only. HTML versions can be supplied on request by Information Services at the Treasury.
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