Credit Investor Presentation
Evaluation and Selection
PAC1
The financial
approval
gateway at the
start of the
project where the
business case is
presented in
order for funds to
be released to
commence the
'Identify and
Define' phases.
The purpose of
the funding is to
identify / confirm
the need and
develop the
required contract
documentation.
PAC2
The financial
approval
gateway at the
end of the
'Identify and
Define' phase
where the
business case is
presented in
order for funds to
be released to
commence the
'Deliver and
Close' phases.
The PAC 2
meeting is prior
to project
contract award
and indicates full
approval of the
investment.
PAC3
The financial
approval
gateway at the
end of the
project. The
purpose is to
review items
such as the
benefits and
present any
lessons learned
during the
investment and
how these can be
applied in the
future.
• The Programme Approval Committee (PAC) approves the release of
allocated funding for each stage of a project
1.
2.
3.
Each committee has delegated authority to approve spend based on
limits set out in the United Utilities Internal Control Manual
Project team delivering the project provides the first level of project
assurance. This involves the Project and Programme Manager ensuring
that the delivery team are following the correct processes and
procedures
Programme Management Office (PMO) provides the second level of
assurance. The PMO provides an independent view and assures the
project constantly throughout delivery
Corporate Audit provides a third level of assurance on project delivery.
External parties or Corporate Audit complete annual reviews on
specific areas to ensure that projects are being delivered according to
the agreed processes
United Utilities
•
Credit Investor presentation
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