4.2 Project readiness check (including ex-ante audit)

The project readiness check is a process embedded in the Initiation Phase to prevent as much as possible major unexpected issues during the project implementation. The project readiness check is carried out both by the FLC during the ex-ante audit and by the Permanent Secretariat and covers the whole scope of management, administrative, financial, and operational issues likely to affect the sound execution of the project and the achievement of targeted project results.

Whilst the Permanent Secretariat checks if the project has a reliable strategy and sufficient anticipation with regard to the topics addressed in the Application Form “Risk management” Section (i.e. project management, human capacity to implement project, readiness in procurement procedures, realistic timeline, legal environment for project implementation, investments-related documentation, location and administrative authorizations…), the FLC verifies on-the-spot and assesses:

  • the management of the project including the tools and procedures for the administrative and financial management of the project,
  • the documentation to allow smooth implementation, such as regulatory frameworks, already obtained and carried out permits, site surveys and environmental assessments, existing or planned procurements, as well as ownership and location related to the project investments.

The readiness check will be carried out between months 3 and 5 of the Initiation Phase, including the on-the-spot component (see Chapter ”Ex-ante audit” for more details on the ex-ante audit).

As stated above, the positive outcome of the readiness check (including the ex-ante audit) is a condition of the successful completion of the Initiation Phase. The outcome is considered as positive when requirements on readiness are properly addressed during the Initiation Phase, and FLC ex-ante audit opinion is positive.

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