Taking a portfolio approach to public works enables better risk management at an organisation level, greater understanding of what works, and unlocks the ability to build capability and drive transformational change in how we deliver projects and programmes. Contracting authorities should adopt a portfolio approach in managing their collection of projects and programmes throughout their lifecycles.
Central government's most complex and strategically significant projects form the Government Major Projects Portfolio (GMPP). This is overseen by the IPA with departments providing data on projects and programmes on a regular basis. The GMPP enables tracking of projects and programmes through their lifecycle, including a delivery confidence assessment and forecasted benefits.