THE PIAF DIAGNOSTIC TOOL

PIAF Indicative Assessment


About this tool

The PIAF diagnostic tool is designed to assess the investment management practice maturity of an organisation. The diagnostic assessment ("baseline") resulting from the consolidation of this questionnaire will provide:

  • An indicative assessment of your organisation's investment assurance processes and potential risk areas (and therefore further improvement opportunities)
  • A contextual background to the potential adoption of PIAF
  • A clear starting point for the implementation of PIAF in your organisation
  • The identification of where early benefits, from the adoption of PIAF, can be found
  • The base line for measurement of continuous improvement and progression towards a mature asset investment organisation

Group.Joy Information Privacy Policy

Your privacy is important to Group.Joy. We only use your personal and organisational information for the purposes for which you provide it to us and for related, internal management purposes.

Instructions

The questionnaire is focused on determining an organisation's ability to manage and derive a return from its non-operational expenditure, particularly in ICT-dependent project investments.

Please respond to the following statements by providing answers most accurately reflecting your circumstances as stated below:

A - The practice described in the statement is true in MOST instances

B - The practice described in the statement is true in SOME instances only

C - The practice described in the statement is NOT observed in my organisation

D - Don't know if the practice described in the statement is actually taking place in my organisation

E - The practice described in the statement is not relevant to my organisation due to the nature of our business



  PRACTICE OBSERVED   ANSWER
1. Senior executives do not understand how the current project (or portfolio of projects) helps to achieve the business strategies of my organisation   A B C D E
2. Corporate projects do not make explicit references to my organisation's business strategies and priorities in their documentation   A B C D E
3. Business cases for significant investments are not presented to my organisation's corporate executive body for approval before these projects commence   A B C D E
4. New investments do not have explicitly stated payback periods; e.g. IRR, NPV and/or ROI   A B C D E
5. Major projects are not formally assessed periodically, for being on track for delivering expected returns   A B C D E
6. Business benefit management plans & uniquely identified benefits are not in place for major projects before they commence   A B C D E
7. Budget components (both capital and operational) are not (or not well) defined for each project before commencement   A B C D E
8. Business requirements described in project documentation are not checked by business and/or independent experts   A B C D E
9. Procurement activities of new projects are not guided by formal plans   A B C D E
10. Business Cases are not reviewed and updated (as required) when project circumstances significantly change.   A B C D E
11. Changes to project budget, scope, and schedule are being made without being approved by the designated approval authority.   A B C D E
12. Stakeholder level of satisfaction with major project implementations is typically low   A B C D E
13. A formal project management and investment management approach that covers all phases of investment i.e. from the idea/planning phases through the project execution phases to, and including, the operational phases is not in place and not being followed in practice   A B C D E
14. Achieved business outcomes from project investments are not regularly reported to Corporate Executives   A B C D E
15. Project approvals are unclear and are not effectively managed   A B C D E
16. Major projects do not have clear lines of accountability for expenditure and return (benefits)   A B C D E
17. Stakeholder accountabilities are not clearly defined   A B C D E
18. Business unit heads do not take accountability for project outcomes they seek to achieve through significant projects   A B C D E

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