scope:

This standard specifies the process for, and the roles and responsibilities of people associated with, conducting a QSRA for possessions, projects, programmes and portfolios (P3M) as required by NR/L2/INI/P3M/106 and NR/L3/INI/CP0064.

This standard is part of the project, programme and portfolio (P3M) framework and relates to NR/L2/INI/P3M/106. It applies to all projects and programmes that require Investment Authority, as defined within IR01, Investment Regulations, and:

a) enhance or renew the operational railway; and / or

b) are carried out in a high street environment, e.g. car park developments.

Purpose

The purpose of this standard is to describe the requirements for conducting aQuantitative Schedule Risk Assessment (QSRA).

The purpose of a QSRA is to assess the combined effect of identified risks using computerised statistical modelling techniques to understand overall delivery confidence against schedule to inform management response.

QSRA outputs are used to both recommend action to increase the probability of delivering on time and identify where there may be adverse consequences requiring visibility and/or management by the business.

This standard provides the work instruction to satisfy the requirements of NR/L2/INI/P3M/106 and NR/L3/INI/CP0064.