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NR/L2/P3M/102 ISSUE 4

Investment Decision Framework (aka NR/L2/INI/P3M/102)

active, Most Current
Organization: NR
Publication Date: 3 December 2022
Status: active
Page Count: 16
scope:

This standard is part of the Capital Delivery Core Process. It relates to the Capital Investment and Delivery Policy and NR/L2/P3M/201. It applies to all enhancement programmes that are funded outside of the Network Rail Strategic Business Plan.

Purpose

The purpose of this standard is to describe the Investment Decision Framework (IDF) for the delivery of railway enhancements from long term planning through to the initiation, development, and delivery of the programme.

Network Rail has developed this approach to the funding of programmes to minimise and mitigate the risks associated with delivering programmes that enhance the operational railway.

The IDF, which is aligned to Swift Pragmatic Efficient Enhancement Delivery (SPEED) principles, allows Network Rail to work across the industry with its funders and investors to make joint investment decisions for interventions that enhance the railway. The framework is applicable to all funders of enhancements.

The IDF provides the governance arrangements for undertaking four incremental investment decisions that can be made in a transparent way recognising the needs of funders and investors.

The IDF seeks to baseline requirements at key stages of the lifecycle to increase the overall level of confidence and reduce the level of funding risk exposure.

The IDF describes an approach that relies on having the right information at the right time guided by the requirements of Treasury Green Book which provides guidance on how to appraise and evaluate policies, projects and programmes. The Green Book describes the three stages of business case maturity:

• Strategic Strategic Outline Business Case (SOBC)

• Outline Outline Business Case (OBC)

• Full Full Business Case (FBC)

The IDF positions investment in the context of railway outcomes and service change delivered through timetable, rolling stock, infrastructure, service changes, and operational changes. It meets the governance requirements of the Capital Investment and Delivery Policy. 

Document History

NR/L2/P3M/102 ISSUE 4
December 3, 2022
Investment Decision Framework (aka NR/L2/INI/P3M/102)
This standard is part of the Capital Delivery Core Process. It relates to the Capital Investment and Delivery Policy and NR/L2/P3M/201. It applies to all enhancement programmes that are funded...
March 2, 2019
Investment Decision Framework and Programme Delivery Lifecycle
This standard is part of the P3M framework and relates to NR/L1/INI/P3M/100. It applies to all enhancement programmes that are funded outside of the Network Rail Strategic Business Plan. NOTE 1: See...
September 2, 2017
Governance for Railway Investment Projects (GRIP)
This standard is part of the P3M framework and relates to NR/L1/INI/P3M/100. It applies to all programmes that require Investment Authority, as defined within IR01, Investment Regulations, and: a)...
GRIP for Programmes
This standard specifies the GRIP programme life cycle, stages, stage gate reviews and peer reviews. This standard applies to all infrastructure programmes that enhance or renew the operational...

References

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