Victoria is investing an average of $10.6 billion a year in infrastructure over the next four years on a wide range of projects across the state.
Office of Projects Victoria (OPV) plays a key role in supporting the delivery of the Victorian Government’s infrastructure program. This complements the Department of Treasury and Finance's role in providing critical feedback on financial and contractual risk.
Infrastructure has been placed at the centre of Victoria’s capital investment agenda. The unprecedented size of the State’s infrastructure program means that a focus on ensuring major projects are delivered in a timely and cost-efficient way is critical. OPV monitors the performance of the State's high value high risk infrastructure projects and provides strategic advice to project teams and the Government.
Through our project monitoring and oversight role we aim to reform and enhance the existing monitoring and reporting tools and provide early advice to the Government about both positive trends and emerging issues in Victoria’s infrastructure program.
Initiatives to deliver on this role include:
- Working with delivery agencies and preparing a quarterly report for the Government on the performance of major projects, tracking cost, time, scope and risk areas;
- Undertaking portfolio analysis across the infrastructure program to identify trends and causes of project delivery success and challenges;
- Reporting to the Treasurer with recommendations to mitigate systemic project risks; and
- Strengthening project assurance – reviewing the effectiveness of the existing High Value High Risk and Gateway Review processes and developing an operating model that clearly outlines the roles of OPV and DTF in project assurance.