The Government Project Portfolio work provides oversight of what is planned and underway in the State sector.
This includes significant non-capital projects and programmes as well as major capital investments. The Treasury leads this oversight work in collaboration with other central agency and functional lead agencies.
The information gained is invaluable to central government planning and leadership groups. It is also seen as an opportunity to identify synergies and economies of scale where they exist.
Project portfolio management
Projects and programmes are the mechanism most used by government agencies to change the mix, type and delivery of products and services they offer, and as a means to create assets.
Projects within a public sector agency (and across agencies) are often inter-related and compete for resources and attention. The amount of taxpayer money tied up in projects at any one time is significant.
Project portfolio management (PPM) is a strategic tool – a collection of strategic processes and decisions managed in a coordinated way – that the Treasury applies to get the optimal value, balance and performance from the portfolio of government investments. The Treasury uses it to help agencies align their project or programme with their strategic goals, using resources effectively and within the current operating environment.
Project portfolio management relies on consistent data, and works best where there are structured approaches to the change initiatives.