OQSI recommendations are components of a due diligence approach to project cycle and portfolio management. Due diligence is defined by OQSI as:
"An agreed sequence of information identification and collection and applying specified methods and analyses designed to ensure that all of the factors necessary for effective understanding of a project environment, project design and implementation are taken into account in a transparent manner."
Due diligence procedures represent an important assurance for investors and donors in helping them assess the quality of a project, the likelihood of success in the light of those due diligence components that provide information on design optimisation and risk. Therefore such due diligence procedures are actions that should be a requirement of donors and a professional obligation on the part of those identifying, designing and implementing projects, programmes and policies.
The first set of OQSI due diligences recommendations are all works in progress as a result of a constant process of refinement based on practice and a gradual improvement in the whole set. The recommendations not only refer to the due diligence steps but also include the specific procedures required and the sspecification of the analytical methods that should be applied. Because of the very variable levels of awareness in teams of the full array of necessary analyses and the difficulty of being able to build teams to cover all necessary domains, the analytical methods have been transformed into specification for cloud-based analytical tools. In this way, as they become available, the general standards of analysis can be raised because of the low cost of access and ease of application of the tools. The impact is to significantly raise the quality of project proposals by helping teams collect and prepare proposals meeting very high standards evidence in all application domains.
Our Task Forces oversee bench tests to ensure that all recommendations remain coherence with the different considerations arising in project/investment cycles.
We no longer publish the details of the 250 analytical tools identified but these can be secured by making use of the different cloud-based services that provide them as a service or a library in the case of analytical tools. Currently the number of operational tools in service libraries that we support is around 125. The full complement of 250 analytical tools should become available during the course of 2019.