Business Assurance describes a methodology employed in contractual engagements. Engagements may take the form of
- Bids for new business;
- Program and project execution; and
- Delivery of service contracts.
The primary purpose of Business Assurance is to monitor the engagement process to provide a clear indication of the status of that engagement at any given time, and assess the likelihood of success in meeting the goals and objectives of the engagement. In other words, Business Assurance provides a level of assurance, to the various stakeholders in that engagement, that a given status or specified capability exists (or will exist, at a given point in the future), for the engagement being assessed.
The key component of the Business Assurance function is the Business Assurance Review. This is a point in time assessment of the engagement, and results in a clearly articulated set of concerns and recommendations to address weaknesses in the current state of the engagement, which when addressed strengthen the probability of a successful outcome. The outputs from a disciplined Business Assurance Review are in the forms of digital dashboards, scorecards and reports.
Unitive provides a comprehensive and time-tested methodology, along with skilled practitioners, which may be utilised by a business to perform a completely independent Business Assurance review of their selected bids, projects or contracts. Independence allows the findings and recommendations to be free from bias or subjectivity, and therefore they carry a much stronger weight in assisting the client to determine their next steps on their journey to successful outcomes.
Talk to Unitive about our independent Business Assurance offering or assistance in setting up your own Business Assurance or Delivery Assurance internal capability.