Project Management Based on Risk and Performance MIF General Staff Meeting March 20, 2008

Project Management Based on Risk and Performance Background Empowerment of COF Program Results of consultancy by IDOM Best practices identified in COF

Project Management Based on Risk and Performance General Elements New disbursement mechanisms based on reaching milestones More robust and standardized risk analysis New automated and integrated MIF project management tool

Project Management Based on Risk and Performance Objectives Empower Executing Agencies Improve Project Performance through Risk Management Simplify Administrative Procedures Capture and Disseminate Lessons and Best Practices

Project Management Based on Risk and Performance Objectives: Empower Executing Agencies Preventive management by addressing risks Training and support for fiduciary control Improved project management through automated and integrated system Improve capacity to manage according to goals and milestones rather than completion of activities and submission of receipts for disbursements

Project Management Based on Risk and Performance Objectives: Improve Project Performance through Risk Management Provide more adequate support to executing agencies through a robust risk analysis tool Free up time and resources to COF specialists to address technical issues rather than administrative tasks

Project Management Based on Risk and Performance Objectives: Simplify Administrative Procedures Reduced time identifying causes for project delays and budget shortfalls Reduced time preparing reports through new MIF project management tool Ex post reviews of disbursement requests (by auditing firms, based on a sample) Ex post reviews of procurement (by auditing firms, based on a sample)

Project Management Based on Risk and Performance Objectives: Capture and Disseminate Lessons and Best Practices Better understand the results of MIF TCs Improve ability to distill lessons from past projects for new project design and scaling up

Project Management Based on Risk and Performance Working Group Composed of MIF staff from all units at HQ and 8 COF (AR, BR, ES, GU, HO, PE, TT, and UR) Teams were established to develop: –Risk Analysis Tool –Procedures for Fiduciary Control (Procurement and Disbursements) –Integrated Project Management Tool Several meetings held virtually and during a week-long workshop in Alexandria to define concepts, approach, procedures, and structure of the new model

Project Management Based on Risk and Performance MIF TC Project Cycle: New Elements Identification and Eligibility [+] Execution [+] Design [+] Revised Institutional Profile List of Project Milestones New Disbursement Mechanisms MIF Project Management Tool Institutional Risk Assessment

Project Management Based on Risk and Performance Policy and Operations Committee Non-Objection from VPP, CID, VPS, LEG, RMG Environmental and Social Review Abstract Agency identification and project elaboration Institutional Profile MIF TC Project Cycle: Identification and Eligibility

Project Management Based on Risk and Performance Integrated Execution Plan Annexes to Donors’ Memo. Analysis, negotiation, and design process Donors’ Committee Quality and Risk Review Schedule of activities Procurement plan Logical framework Budget Preliminary list of milestones Institutional risk assessment MIF Project Management Tool MIF TC Project Cycle: Design

Project Management Based on Risk and Performance MIF TC Project Cycle: Design and Execution Supervision of Procurement Procedures

Project Management Based on Risk and Performance MIF TC Project Cycle: Design and Execution Supervision of Disbursement Procedures and Auditing of Financial Statements

Project Management Based on Risk and Performance Disbursement Mechanisms: Example 1 Time Project start Month 6 $$$$$ Disbursements of resources planned until next milestone datesFinal disbursement Project endMonth Final 3 MIF TC Project Cycle: Execution

Project Management Based on Risk and Performance Time Project start Month 6 Project endMonth Final 3 $$$ Disbursement of resources planned until next period $ Final disbursement Disbursement Mechanisms: Example 2 MIF TC Project Cycle: Execution