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The Open Quality Standards Initiative (OQSI) develops specifications and recommendations for practical due diligence procedures that uphold quality standards for the design, implementation and operations management of online and cloud-based digital project cycle and porfolio management (PCPM) systems. The guidelines as to what constitute quality standards are based on tracking the state-of-the-art digital technology capabilities and shaping improved systems of decision analysis to solve the evolving social and economic gaps and needs facing communities through:
  • More impactful and efficient projects, programmes and policies
  • Lower risk investments with enhanced probability of successful implementations
  • The lowering of project failure rates
OQSI work is distinct in that it places particular emphasis on the advances in decision analysis, logic & analytical techniques with all developments based on a close collaboration with stakeholders and domain practitioners.











References: Wappenhans, World Bank, 1992, Loan performance review (internal report); McNeill, H.W., & Belko, F., "Towards more effective Project Management", DAI, GBF, London, 2011, ISBN: 978-0-907833-02-4; SEEL-Systems Engineering Economics Lab, 2017, Estimated financial losses arising from lower than expected economic development project performance.

Recent studies on project successs rates indicate that in excess of 55% do not achieve objectives (PlanView). Overall something like 20-25% of projects are a complete failure and total financial loss. The other 30-35% have a range of losses from 5%-95% or an average of 50% of funding. This provides an estimated global financial loss equivalent to 37.5% total outlays on economic development funding. Latest fiures on aid funding can be obtained from OECD-Library website.


OPEN QUALITY STANDARDS INITIATIVE
OQSI
is a division of
The George Boole Foundation Limited
London
Limited by Guarantee
A not for profit applied digital intelligence research & development organization

http://www.boolean.org.uk   +44 (0) 7760 444 625
info@oqsi.org