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Introduction

Public funding provides for nearly all land transport services and infrastructure in New Zealand – and the Transport Agency is accountable to New Zealanders for how it invests that funding. This means closely monitoring costs and showing that services and infrastructure the Transport Agency has invested in fulfil their intended purpose and achieve their expected outcomes and benefits.

This section of the Planning &Investment Knowledge Base provides information about the different activities of the Transport Agency's investment assurance framework.

 

Annual achievement reports

Each approved organisation and the Transport Agency (state highways) must provide an annual achievement report to the Transport Agency.

The Transport Agency is accountable for its investment decisions. The information in the achievement reports provides feedback on the delivery of the programmes the Transport Agency has invested in. The achievement reports are also used for benchmarking and comparing the performance of the transport network across New Zealand. The Transport Agency develops reports using the information provided, and makes them available to approved organisations and the Transport Agency (state highways).

Annual achievement returns with information for the reports must be submitted to the Transport Agency via Transport Investment Online(external link) by mid-July.  The precise date is defined each year in a General Circular issued by the Transport Agency

 

Investment assurance activities

The investment assurance framework provides assurance about the services and infrastructure the Transport Agency invests in. It also systematically identifies opportunities to improve both the Transport Agency's and the transport sector’s performance.

The framework covers three audit and monitoring activities:

 

  • Key features of investment assurance activities

    The table below summarises the focus and scope of these different monitoring activities, the assurance they seek to provide, and business improvement opportunities they aim to identify.

     

    Investment audits

    Benefit realisation reviews and investment performance measurement

    Focus

    Approved organisations and the Transport Agency (state highways)

    Completed projects or packages the Transport Agency has provided funding for

    What is assessed ?

    Approved organisations and the Transport Agency's (state highways) capability

    Whether expected benefits of projects/packages have been achieved for expected cost

    Explanation of variation of actual results from those expected

    Assurance provided

    Approved organisations and the Transport Agency (state highway) have systems, processes, and people in place to manage their investment risk and deliver sought outcomes

    Projects/packages invested in are achieving what was intended and for the expected cost

    Business improvement opportunities the monitoring activities help identify

    • Identify and share good practice to improve Transport Agency and entity performance
    • Provide better intelligence on the capability and performance of entities to be used in the Transport Agency's investment practices
    • Identify opportunities to improve the Transport Agency's processes, systems, and guidance to entities
    Learn lessons for future projects/ packages that are invested in, including good practice to share with others
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