1.3 Assurance

Question 1

Definition of Assurance

Answer 1

• “Confidence we’re doing things the correct way”
• Providing confidence to stakeholders that benefits will be achieved

Question 2

Characteristics of assurance

Answer 2

• Agreed with sponsor and stakeholders
• Aligned with organisational strategy
• Linked to governance and risk management
• Spans entire project lifecycle
• Provides confidence of progress
• Provides confidence of managed risks
• Provides confidence of quality
• Provides confidence that outcomes align with goals
• Provides support for decision-making
• Provides change control management
• Should be independent, objective and proportionate
• Should be prioritised to the greatest risks on the project
• Should show clear accountabilities for assurance activities
• Should have timing and frequency of assurance activities
• Should show clear governance for reporting outcomes

Question 3

Assurance activities - levels

Answer 3

• Level 1 - Controls
• Level 2 - Compliance
• Level 3 - Independent review

Question 4

Breakdown of Level 1 (Control) in assurance activities

Answer 4

• Scope - application of management systems
• Priorities - risk management
• Aims - adherence to governance

Question 5

Breakdown of Level 2 (Compliance) in assurance activities

Answer 5

• Scope - regular checks and audits by PMO
• Priorities - risks are controlled
• Aims - maintain cohesiveness and effectiveness of processes

Question 6

Breakdown of Level 3 (Independent Review) in assurance activities

Answer 6

• Scope - conduct independent reviews
• Priorities - overview of systems of control
• Aims - independent and unbiased checks