Dimension 11.3. Timing, coverage and data requirements
|Time period||Coverage||Data requirements/calculation||Data sources|
|Last completed fiscal year||CG.||
Dimension 11.4. Investment project monitoring
DIMENSION MEASUREMENT GUIDANCE
11.4:1. This dimension assesses the extent to which prudent project monitoring and reporting arrangements are in place to ensure value for money and fiduciary integrity. The monitoring system should maintain records on both physical and financial progress, including estimates of work in progress, and produce periodic project-monitoring reports. Monitoring should cover projects from the point of approval and throughout implementation. The system should allow supplier payments to be linked to evidence of physical progress. The system should also identify deviations from plans and allow for identification of appropriate actions in response.
11.4:2. B and C scores are given for this dimension if at least some of the major investment projects are included in the information monitored and reported or prepared, respectively.
11.4:3. Standard procedures and rules refer to a set of formal guidelines adopted by government that are used in the implementation of every project or
group of related major investment projects with common characteristics within and across central governmental units.
11.4:4. Total cost refers to the costs identified in dimension PI-11.3. Monitoring reports should highlight any deviations from the original cost estimates and the reasons for the deviation. Assessors should highlight any patterns of systemic cost underestimation or overestimation.
11.4:5. Physical progress relates to the production and implementation steps and milestones in the project plan, for example, the length of road laid, components of assembly for products and machinery, stage of building construction.
11.4:6. A high level of compliance implies the application of established procedures. A high score thus requires evidence that procedures have been followed during implementation. This could be determined through a review of audit documentation or the existence—and satisfactory results—of quality assurance checks.
Pillar Three: Management of Assets and Liabilities