31965 (2026). Hon Rachel Brooking to the Minister of Finance

31965 (2026). Hon Rachel Brooking to the Minister of Finance: What criteria determines whether a project is subject to a Gateway Review, and how many, if any, projects that met those criteria in 2024 and 2025 did not receive a review?

Hon Nicola Willis: Investments that are high-risk are subject to Gateway reviews. To determine the risk rating, agencies are required to complete a Risk Profile Assessment (RPA) for an investment. If agencies self-assess the risk to be medium or high, then they must submit the RPA to the Treasury for moderation. There are several risk factors which are assessed in the RPA, such as estimated value (varies depending on the investment type); interface complexity, procurement risk, and agency capability and capacity. Of the investments entering the Investment Management System in the 2024 and 2025 calendar years that received a moderated high-risk rating, 35 have not completed a gateway review, explanations include: the investment hasn’t had any business case decisions that would require a Gateway review; the investment has been subsequently withdrawn; the investment has closed before a review could be completed; or the investment has been revised, which can also result in a lower risk rating.