CPT_24_52 Specialist model assurance support

Tender description

The National Audit Office (NAO) awarded a contract to Hartley McMaster Limited who will oversee and lead the testing of a subset of models with the NAO model assurance portfolio by • validation, verification and testing models and reconciling the model design back to the intended methodology. • overseeing a small portfolio of model assurance work to ensure that outputs are successfully delivered across the NAO modelling portfolio. • supporting the NAO to continuously improve our approach to implementing testing procedures The contract is expected to commence on Tuesday 1st April 2025 and run for an initial period of 12 months until Tuesday 31st March 2026. The contract may be extended by 2, 12 months until Friday 31st March 2028 at the NAO's discretion. The estimated contract value will be £111,272.40 inclusive of VAT over the 3 years duration. As of 1st April 2026, The current contract will also be extended for a further 12 months, from Wednesday 1 April 2026 to Wednesday 31 March 2027. Also the original contract value of £111,272.40 inclusive of VAT has been varied up to 50% and the new value is £166,908.60 inclusive of VAT.