NR/L2/INI/P3M/105 ISSUE 1
Assurance of Project, Programme and Portfolio (P3M) Investment
| Organization: | NR |
| Publication Date: | 2 December 2017 |
| Status: | inactive |
| Page Count: | 17 |
scope:
This standard specifies the process to be adopted, as well as the roles and roles' responsibilities associated with assurance of projects, programmes and portfolios delivered within the P3M framework.
This standard is part of the P3M framework and relates to NR/L1/INI/P3M/100. 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. This standard applies to the people who are accountable for the assurance activities identified by levels 0, 1 and 2 in figure 1.
This Standard specifies the requirements of level 1 and level 2 activities to be undertaken in accordance with figure 1.
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
NOTE 2: See the following link for definitions of projects, programmes, and portfolios in Network Rail. This information is available externally on request to P3Massurance@network
Purpose
The purpose of this standard is to describe the Network Rail assurance activities undertaken in relation to the project, programme and portfolio (P3M) framework and identify who is accountable for carrying out the activities. The assurance activities provide Network Rail with oversight and confidence in the progress of its infrastructure portfolio. Adherence to this standard will reduce reputational and financial risks resulting from unsuccessful delivery of Network Rail's infrastructure portfolio. It creates a common set of working practices to provide a consistent approach in assuring the portfolio and projects / programmes within it. There are no legal obligations associated with this standard.
Document History
