RRP Project Assurance & Process Development for Northern Gas Networks

RRP project assurance and process development for Northern Gas Networks

Case study

Client: Northern Gas Networks
Scheme Value: (unknown)
Fee Value: (unknown)
Start Date: 01/11/2022
End Date: Ongoing

Project Lead: Rachel Slater
Project Team: Kavya Hajra
Partners: N/A
Services: Asset Management & Strategic Advisory

Problem / Opportunity

Following a turbulent Regulatory Reporting Process [RRP] submission in May 2022, Aqua Consultants were requested to undertake an audit of the internal Innovation RRP process through to all connected activities and data sets to create and embed new processes and procedures, to ensure future submissions are completed efficiently and in a timely manner.

This led to other opportunities being identified (as detailed below) and in late 2023 an additional resource to support creation and implementation of a project benefit tracker and improve financial reporting was requested, which led to Kavya joining the team.

Solution

October 2022 – March 2023

Audit of the Innovation annual Regulatory Reporting Process [RRP] through to all connected activities and data sets
Re-write of procedures and created new standard templates
Presented to individuals responsible for RRP and dry run successfully completed
Created a new Project Documentation Suite to improve project management, file storage and completion efficiency.

April 2023 – September 2023

Audit of the Innovation annual Innovation Measurement Framework process/requirements
Created a procedure to strengthen future IMF submissions and undertook dry run/training with relevant individuals
Review and complete overhaul of the Innovation end-to-end process
Creation of new procedure document suite to sit behind new process

October 2023 – April 2024

Build on the procedure document suite by creating a NIA Summary procedure (potentially others in line with license condition requirements)
Migrate the team to a new Portfolio Management System to enable Power BI dashboard reporting etc.
Enable the formal adoption of the renewed end-to-end process into the business, aligning to the companies' stakeholder plan
Support the internal audit of the Innovation end to end process and lead the team/implementation of actions
Undertake Portfolio Manager role for the Innovation Team
Development and implementation of benefits tracking for innovation projects
Optimise budget models for financial reporting

Outcome

Enhanced optimisation of project/programme delivery and change control
Enable clarity/requirements in and outside of the team
Strengthened the quality of future RRP submissions
Developed training material for the team to develop competency and gain sign off
Ensures compliance with funding mechanism governance and regulatory requirements
Led a successful RRP and Innovation Measurement Framework (IMF) submission in 2023 – currently preparing for this year’s!

Shared Capability

Enhanced innovation project delivery and change control
Strengthened regulatory compliance capabilities
Developed team skills and competencies
Optimized processes and reporting efficiency
Drove continuous improvement
Provided guidance during challenging periods
Supported successful regulatory submissions
Improved financial tracking and analysis

“Rachel has been invaluable to the NGN Innovation Team since she joined and is a real asset to Aqua Consultants. Rachel provided critical support to help facilitate the 22/23 regulatory reporting process, supporting myself and the wider innovation team to collate, validate and report financial information relating to a variety of OFGEM funded innovation mechanisms. 2023 has been a turbulent period for NGN's Innovation Team and Rachel has shown real empathy to the scenario and has aimed to go above and beyond when needed to best support individuals within the team. Innovation can often be difficult within a regulated environment, but Rachel has shown a passion for challenging inefficient process' and developing new ideas to drive better performance, which ultimately NGN are looking to implement moving forward.”

Nick Smith, Innovation Strategy & Delivery Manager