NR NR/L3/INI/P3M/130/01 ISSUE 1 PDF

This module is to be applied by all Network Rail Delivery Agents whose projects have:

a) been classified as LoC 1 and 2, see NR/L2/INI/P3M/101; and

b) are post GRIP stage 4 (single option development); and

c) have awarded the main contracts for the delivery of the project.

By exception some LoC 1 projects due to their size / cost / political nature might be required to report EV before GRIP stage 5, for example major enhancement schemes which are reported up to the CEO or Board. These are identified by the Delivery teams.

Purpose

This module is part of the NR/L3/INI/P3M/130 Controls manual.

The purpose of this module is to outline the requirements, principles and definitions of Earned Value (EV) management and reporting in order to manage the Network Rail investment portfolio.

This module will help to mitigate the enterprise risk of inconsistent management and reporting of high profile and complex projects by providing an understanding of the status, trends and potential outcomes of a project by linking schedule with budget and cost (value) in an integrated manner.

This process provides definitions for using Earned Value Analysis (EVA) on appropriate projects. This includes the following:

a) applicability of projects linked to Level of Control (LoC) and Governance for Railway Investment Projects (GRIP);

b) key earned value definitions;.

c) roles and responsibilities in implementing EV, who does what and when, including actions required when variances arise;

d) the principles supporting the calculation of earned value; and

e) process overview from original project definition through to review of outputs in corporate reporting systems