Investigation into Network Rail's risk modelling, embedded risk and uncertainty on PR23

The ORR has recently begun its 2023 periodic review of Network Rail covering the five years from April 2024 to March 2029. A central element of every periodic review is a cost assessment whereby ORR determines the appropriate level of expenditure required to deliver the outputs set by funders. The System Cost & Efficiency team is part of the Capital Investment, Enhancements, Engineering and Asset Management team in ORR and is focussed on achieving an efficient cost assessment as part of the PR23 process. Network Ra...