The IPA is a government agency in the United Kingdom that manages and facilitates the implementation of the most important public projects. The players work towards a shared common goal of realizing accessibility to pools of capital both through IPA Agency which was formed to correct the deficit of innovation and underdevelopment of infrastructure in Africa. The agency controls the Government Major Projects Portfolio, GMPP, and constitutes major, complex and high-risk innovative projects, such as infrastructure and information technologies, sustainable development and digital transformation of society.
As per the 2022-23 Annual Report, the IPA mentioned that the GMMP comprised 244 projects worth a whopping £805 billion. This portfolio encompasses a wide spectrum of industries, including but not limited to transport, health services, defense, and digital sectors, all meant to enhance the physical and social environment of the UK. The IPA has adopted a forward-think and active style of managing projects, and has focused its intervention on a few critical initiatives concentrating on high-risk priorities.
Headed by the CEO Nick Smallwood, the IPA’s top management has directed its effort towards establishing project specialization within the government, developing the competencies of senior project managers, and establishing leadership in the agency. Such values and principles within the agency lead to findings such as the progressive approach towards projects that help the UK towards a more sustainable economy and improving services with new technology.
IPA 2022 Annual Report – PDF
| Category | Details |
|---|---|
| Net Worth (as of 2023) | Not directly applicable (government agency) |
| Total Assets (2023) | £805 billion (value of the Government Major Projects Portfolio) |
| Liabilities (2023) | Not directly applicable (government agency) |
| Equity (2023) | Not directly applicable (government agency) |
| Revenue (2023) | Not applicable (operational budget provided by the government) |
| Operating Profit (2023) | Not applicable (government agency, not for profit) |
| Total Portfolio Value (2023) | £805 billion |
| Number of Projects (2023) | 244 projects in the Government Major Projects Portfolio (GMPP) |
| Holdings by Category | – Type of Project: Infrastructure, digital transformation, innovation, public services – Industry Sector: Government and Public Administration – Geographic Region: United Kingdom – Project Status: Various stages of development and implementation, from initial planning to active deployment |
| Audited Financial Statements | Annual reports that contain the financial statements disclose amounts attributed to expenditures on government projects management, budgetary provision, and performance. It covers project performance and risk control tracking as well. |
| Condensed Financial Statements | Presented within the research is the annual report, including such sections as: general information on financial and business performance for each of the major budgetary projects. |
| Returns (1, 5, 10 years) | – 1 Year: N/A – 5 Years: N/A – 10 Years: N/A (As a government agency, the IPA does not generate financial returns in the traditional sense but measures success in terms of project completion, public benefit, and economic impact) |
| Management’s Discussion | The executives noted the growth and increasing complexity of the Government Major Projects Portfolio (GMPP), which contains 244 now complex and costly projects worth £805 billion. It is expected that these projects will help to boost the economy, create new industries, and enhance sustainability in the UK. The IPA’s emphasis has been on the very early support on the most risky but such high priority projects to ensure that they remain on path and achieve their intended benefits. The portfolio consists of ambitious initiatives aimed at the reform of public services, upgradation of infrastructure and the development of a more sustainable and innovation-driven economy. Management stays focused on enhancing project delivery by investing in the development of skills and leadership within the government. |
| Important Persons & Top Officials | – Nick Smallwood (Chief Executive Officer): Experienced leader with a background in project management and infrastructure development, leading the IPA since 2019. – Baroness Neville-Rolfe DBE CMG (Minister of State, Cabinet Office): Provides strategic oversight and government direction for the IPA’s operations. |
| Directors & Officers | – Nick Smallwood (Chief Executive Officer): Age 59, Tenure 4 years – Senior Responsible Owners (SROs): Various senior officials responsible for specific major projects, with tenure varying by project. – Remuneration: Government officials’ compensation, generally aligned with public sector pay scales. |
