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  • Operis Model Review – A Closer Look at the Facts Behind the Numbers

    29 April 2020

    Operis is delighted to top of the Q1 model audit league table with a reported six model audit assignments, but that is just the tip of a very large iceberg of work.

    In addition to the successfully completed assignments credited in the Inframation table below, Operis has in fact started work on more than 50 model reviews globally this year.

    Inframation - Model Auditor League table Q1 2020Inframation Q1 League Table

    A more accurate picture of the model review work that is going on within the business is shown by the table below that has been compiled from our own data.

    These figures represent the 52 model review assignments which Operis have started this year.

    Model reviews started – January 1 2020 to April 27 2020

    The data raises some interesting points;

    • Greenfield PPP projects are still being undertaken in volume around the world, despite the procurement method’s lack of popularity among many governments in recent years
    • nearly 20% of the work represents companies seeking a model review purely for internal reasons – i.e. not specifically associated with a transaction involving external parties
    • more than half the projects undertaken do not involve a PPP transaction

    Henrietta Royle, Operis Chief Executive, said: “We have always maintained that we are project finance experts, rather than just specialists at PPP and this table backs that up.

    “The number of models that we are reviewing for internal purposes show that it is becoming a component of best practice to get your models checked. We’ve naturally always said it makes good commercial sense to do so – it now appears the market is moving that way.

    Despite falling out of fashion in the UK, PPP is, of course, still a methodology widely used around the world and I think that the PPP projects that we are involved in are recognition of both our proven expertise and our global reputation for excellence.

    We have incredibly bright, creative people at Operis who have always adapted to client needs and the circumstances that we now all find ourselves in has highlighted that. I’m immensely proud of them.”

    Simon Williams, Operis Commercial Director, is delighted at how the team – 45 people in the UK and 15 in Toronto – have achieved these good results in the face of lockdown working practices.

    “We are fiercely proud of our record that we have never been the cause of delay in any project we have ever worked on and that has not changed. We use Slack and Zoom to keep in touch with our remote teams and they are holding up very well.

    I’ve been hugely impressed by how well our people are working. I think this is really reinforcing the bond of trust that we have in one another in the business.

    Ironically, we are finding that we are making more use of Zoom than telephone for calls with clients around the world, which means we actually see more of them than we did in normal times.  Being pushed into these new ways of meeting virtually are making relationships stronger and enabling us to communicate in a more personal and human way. This means that we get a lot more out of those interactions that we have done before.”

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