scope:

This standard specifies the activities required to identify, define, and coordinate the processes and key management activities throughout a project's lifecycle.

This standard is part of the Capital Delivery Core Process and relates to NR/L2/P3M/201.

It applies to projects that require Investment Authority as defined within IR01 Investment Regulations and enhance or renew the operational railway.

Purpose

The Project, Programme and Portfolio management (P3M) framework policy and Project Acceleration in a Controlled Environment (PACE) describe how Network Rail manages and controls investment projects on the rail network.

Network Rail has developed this approach to managing projects in order to minimise and mitigate the risks associated with project development and delivery. PACE provides a more flexible control framework enabling sponsors and project managers to tailor the controls therein to better meet the requirements of their project. The PACE framework is shown in figure 1.

The approach is based on best practice within comparable industries that undertake major investment projects.

Application of this standard during investment projects on the rail network can reduce the reputational and financial risk related to the delivery of projects.

This standard supports the effective coordination and management of interfaces and inputs for delivering successful outcomes across the seven PACE processes.

This standard brings together the seven core PACE processes undertaken during project development and delivery:

a) manage integration;

b) manage scope;

c) manage time for projects;

d) manage cost and commercial;

e) manage risk for projects;

f) manage assurance; and

g) manage stakeholders.