Governance & monitoring

Each contracted programme within the Primary Growth Partnership (PGP) is subject to ongoing governance, monitoring, and assurance. This helps ensure the appropriate use of PGP funding and the success of each programme.


5 key elements

Governance, monitoring, and assurance of PGP programmes has 5 key elements:

  1. Monitoring of progress – through active review of quarterly reports and annual plans by MPI and the Investment Advisory Panel (IAP).
  2. Programme governance and risk management – through Programme Steering Groups (on which MPI has at least 2 representatives).
  3. Financial management and auditing – through programme financial audits as well as each participating organisation's existing auditing or annual reporting requirements.
  4. Programme progress reviews – at least one full external, independent progress review is carried out during the lifetime of a programme to assess progress towards the intended outcomes.
  5. Programme evaluation – through an outcome model.

Co-investors are also accountable to their respective governance body or bodies, like boards of directors. They may also have other reporting requirements, like to the New Zealand Stock Exchange for listed companies.

View the annual governance, monitoring, and assurance cycle diagram [PDF, 334 KB]

Monitoring of progress

MPI has a dedicated PGP directorate that administers and oversees the PGP. For PGP programmes, this includes reviewing quarterly reports and annual plans, monitoring overall programme progress, and representing MPI on programme steering groups.

The IAP has a monitoring and evaluation role for contracted PGP programmes. This involves:

  • reviewing programme quarterly reports and annual plans
  • receiving presentations on the progress of programmes, as required
  • providing advice to MPI as appropriate.

Reporting

Each programme provides quarterly reports, which are monitored by MPI and the IAP. Summaries of the quarterly reports are published on each PGP programme's page.

Each programme also does an annual review of its activities and budgets and provides annual plan updates, which are reviewed by MPI and the IAP.

Find out more

Programme governance and risk management

Each PGP programme must have a programme steering group, which meets at least quarterly to review progress and provide oversight of the programme. Members comprise of representatives from the investing company or companies and MPI, and may include an independent chairperson.

Programmes actively manage and monitor risks through risk management plans and schedules, which are reviewed regularly by the steering groups.

Financial management and auditing

Industry co-investors must keep appropriate financial records and make them available for audit on request at any time. The overall administration of PGP is also subject to MPI's regular internal audit programme.

Each programme is financially audited at least once during its operation, either by MPI's audit function or external auditors. Copies of audit reports are available on the audited programmes' page to download.

Payments to partners

Before PGP funds are paid out to a programme, invoices are verified to ensure the work has been completed and is consistent with the programme's planned activities.

Programme progress reviews

Programmes must have at least one full external progress review during their lifetime to assess their progress towards the programme's goals. Comprehensive summary reports of the review findings are available on the relevant programme pages when reviews are completed.

Programme evaluations

The PGP portfolio has an overall outcomes model that outlines the outcomes and benefits the PGP is aiming to help achieve. PGP programmes are also required to develop an outcomes model and appropriate measures to enable evaluation. These are available on the PGP programme pages.

At the end of each PGP programme an evaluation is done based on the outcomes model developed for that programme. Comprehensive summaries of evaluations of programmes are available to download from on the relevant programme's page, once completed.

Download the overall PGP outcomes model [PDF, 75 KB]

Alignment with other Crown funding

MPI, NZ Trade and Enterprise, and the Ministry of Business Innovation and Enterprise share information about aligned projects funded by each organisation, or when each organisation receives funding requests for aligned projects.

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