What does IV&V do/How does IV&V work?
A: IV&V provides an independent view of
project progress and performance to the project’s sponsor and/or executive team,
which could include federal partners (ex. CMS). The involvement IV&V takes
varies by project based upon each project’s risk profile. Some typical IV&V
activities are observation of the project team and project meetings, interviews
with stakeholders, review of project documents/deliverables, etc. The IV&V
team works with the project team and provides project observations, risks,
issues and recommendations directly to the Project Sponsor and/or Steering
Committee, COT OPM and any federally required agencies (i.e. CMS). IV&V
typically provides their observations to the project sponsor and/or steering
committee via a report on a weekly or monthly basis.
is IV&V required?
A: A project risk analysis will be
conducted during the Requesting phase of the project to determine whether
IV&V is required, and the level of IV&V required, if any. This is a
collaborative effort between the agency and the COT OPM.
is the project risk assessment performed?
A: CIO policy requires all projects,
meeting the threshold for reporting to the CIO, have a project risk assessment
performed during the Requesting phase of the project. The assessment will take
place prior to any procurement activities (Ex. RFP), in advance of the agency
formally approving the project and before finalizing the project’s budget.
do I get a project risk assessment started?
A: Contact the COT OPM.
long does a project risk assessment take?
A: Once OPM receives a request, the
assessment can typically be completed within 1 week, assuming agency resources
How much does COT charge to perform a project risk assessment?
A: There is no charge for COT to
perform a project risk assessment.
Who performs IV&V services?
A: The Commonwealth has established
a master agreement with five vendors who are approved to perform IV&V
services for the Commonwealth. The COT OPM may also perform IV&V services.
OPM will work with agencies to select the best IV&V service provider for
How much does IV&V cost?
A: Since IV&V services are
defined based upon each project’s risk profile, the scope of each engagement,
and thus, the cost, are project specific. Typically, projects with a budget of
$10M or more include 5% of their budget for IV&V services. Projects with
smaller budgets allocate 5%-10% of their budget for IV&V. These budget
estimates are inclusive of vendor services and any COT IV&V oversight