Major projects report 2007

Download or read book Major projects report 2007 written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2007-11-30 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Major Projects Report 2007 covers cost, time and performance data for military equipment projects in the year ended 31 March 2007. 20 of the largest projects are examined where the main investment decision has been taken by the Ministry of Defence (the MoD), along with ten projects still in the Assessment Phase. Overall the MoD is in a similar position to 2006 for forecast cost and performance, but there continue to be time delays. The current total forecast cost for the 20 largest projects is £28 billion, which is £2.5 billion over the 'most likely' budget when the main investment decision was taken. The MoD expects ten projects to deliver within their most likely budgeted cost. Most of this cost growth occurred in earlier years but, on two projects, the Type 45 Destroyer (£354 million) and the Astute Class Submarine (£142 million), there has been significant cost growth in-year. The MoD has now agreed revised contracts on both of these projects to incentivise industry to reduce costs. The MoD was again pro-active in limiting potential in-year cost increases on individual projects through reassessing requirements, reducing quantities of equipments and re-allocating expenditure to other projects or budget lines. Five projects were delayed by a total of an extra 38 months this year. Of these, the most significant were the Type 45 Destroyer which has been delayed by a further 11 months and the Terrier and Next Generation Light Anti-Armour Weapon projects have each been delayed by a further 12 months. Detailed Summary Sheets for each of the 30 Projects are in Volume 2 (HCP 98-II, ISBN 9780102951493). There have been significant developments of interest on a project that appeared in the Major Projects Report until 2002-03, the Landing Ship Dock (Auxiliary) project, and detailed findings are given in Volume 3 (HCP 98-III, ISBN 9780102951509).