Change Control and Budget Management Procedure
type: Good Practice Document
The purpose of this procedure is to define the processes which apply to the control of change and the management of budgets and forecasts. This procedure covers:
- the Change Management process to establish a methodology for the review, mitigation and approval of all changes from the approved Programme Baseline. This includes requirements, scope, schedule and budget;
- the Trend process (to amend forecasts) which covers the early identification, mitigation and management of issues affecting the Anticipated Final Cost (AFC); and
- the Investment Authority process by which Investment Authority is set and authority is given to proceed to tender (PTBA) and award a contract.
This procedure therefore provides the mechanism to amend Current Control Budgets, including the allocation of contingency to fund changes where appropriate. It also specifies the method and means to control the allocation and expenditure of Contingency throughout all phases of delivery, and the selection of appropriate sources of contingency funding.
The Cost Management and Forecasting procedure defines the processes to establish budgets and forecasts on the Crossrail Programme; this procedure defines how budgets and forecasts are changed.
- alerts Crossrail management to early indications of potential variance to the current baseline during the execution of the projects, and allow corrective action to be identified and implemented.
- applies strong governance to the allocation, expenditure and return of Programme Contingency, whilst providing timely and sufficient access to Programme Contingency to those managing delivery risks.
- establishes budgets including contingency which are affordable within the funding envelope and represent value for money.