Daði Már Kristófersson, Minister of Finance and Economic Affairs, has signed an agreement with Reykjavik University (RU) and the Icelandic Association of Chartered Engineers (VFÍ) establishing a new collaborative forum on project governance and public investment. The purpose of the forum is to strengthen cooperation between the Ministry, RU, and VFÍ, promote the development of best practices in public administration, integrate expertise, and highlight effective methods in the field.

The forum is composed of five representatives: three appointed by the Minister of Finance and Economic Affairs, one from RU, and one from VFÍ. The agreement is valid until the end of 2027.

Public-sector investments are extensive and diverse. Significant financial resources are allocated to them, and it is essential that decisions—at every stage—are made carefully and thoughtfully. From my perspective as Minister of Finance, it is crucial that the best methods in public administration are consistently applied, particularly in the preparation, assessment, financing, implementation, and follow-up of public investment projects. This collaborative forum is intended to serve as an important tool in that effort. I am very pleased to undertake this work in partnership with Reykjavik University and the Icelandic Association of Chartered Engineers.

Says Minister Daði Már Kristófersson.

In addition to the Minister of Finance, the agreement was signed by Ragnhildur Helgadóttir, Rector of Reykjavik University, and Helgi Gunnarsson, Chair of the Icelandic Association of Chartered Engineers.

The role of the collaborative forum is to:

• Share knowledge in the fields of project management, investment assessment, and quality evaluation.
• Assess the strengths and weaknesses of project governance systems and examine what could be suitable for Icelandic public administration.
• Evaluate how academic expertise and research can support policy development and the execution of public investments.
• Explore opportunities for joint research, education, publications, and development projects in this field.
• Propose improvements in the processes and governance of public-sector investment projects.
• Consider the potential and value of establishing a broader collaborative platform that includes additional key stakeholders in project governance and public investment.

Members of the forum are:

• Hermann Sæmundsson, Permanent Secretary, Ministry of Finance and Economic Affairs
• Gunnar Sigurðsson, Specialist, Ministry of Finance and Economic Affairs
• Katrín Oddsdóttir, Specialist, Ministry of Finance and Economic Affairs
• Helgi Þór Ingason, Professor, Department of Engineering, RU — Representative of Reykjavik University
• Svana Helen Björnsdóttir, Engineer — Representative of the Icelandic Association of Chartered Engineers