Project, Programme and Portfolio Management (P3M) Framework Policy
|Publication Date:||2 September 2017|
This policy and the P3M framework apply to all projects and programmes that require Investment Authority as defined in IR01 and:
a) enhance or renew the operational railway; and/or
b) are carried out in a high street environment, e.g. car park developments.
NOTE 1: IR01, Investment Regulations, is available on Connect (IR01 is an internal document available to staff within Network Rail only, it can be made available upon request to P3M@networkrail.co.u
Network Rail delivers in excess of £2.5billion of CAPEX investment into use on the operation railway every year; this investment is delivered through projects and programmes initiated through our internal Long Term Planning process undertaken by the Systems Operator or directly remitted by an external Client/Funder.
Clarity of requirements, control and transparency in delivery, and the capability to provide assurance to our stakeholders that funding is being effectively managed provides confidence that the benefits, outcomes, and outputs remitted will be delivered.
Network Rail achieves this level of control through the project, programme and portfolio management (P3M) framework, implementation of which will reduce the reputational and financial risk related to the delivery of complex projects