|Carefully calculate the project budget and then triple it for an under-estimation!
Public Accounts Committee report says that ‘the Government must learn from serious failings in the design, planning and cost-estimating of the Great Western route modernisation programme’.
In the report, the Committee warns the significant flaws identified in the project raise concerns about the ability of the DfT and Network Rail to manage similar projects in future (HS2?????). These include the planned electrification schemes on Midland Main Line and TransPennine routes. The Committee makes a series of recommendations to Government intended to safeguard taxpayers’ money and support the timely delivery of passenger benefits on future rail schemes.Editor’s note: One should also remember the example of the NHS National Programme for IT, which was originally budgeted at £2.3bn before being ‘killed off’ after spending £12.3bn.
Timing is everything when it comes to successful projects (hover mouse over text in first & fifth paras. For links)