Sustainability Report 2006/07Best practice review
An international ‘best practice’ review of our capital planning and delivery processes was undertaken by KPMG during the year, comparing our processes with best industry practice.
The two-month review, completed in August 2006, included extensive consultation and workshops with key Melbourne Water people. It followed an international benchmarking study with Yorkshire Water completed in March 2006.
As a result of the KPMG review we have also improved:
- Planning processes to allocate more time and resources for project review
- Expenditure forecasting for renewal of mechanical and electrical equipment
- Cost estimation methodologies for high value/high risk projects
- Governance through a new capital planning and delivery Board subcommittee.
Melbourne Water is also enhancing the processes and IT systems that support our capital planning and delivery. A new capital management system will considerably improve the effectiveness and efficiency of project planning, monitoring, control processes and reporting mechanisms.