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Audit & Assessment

Project Validation

Many railway projects evolve only slowly, but eventually require decisions concerning huge expenditure. At this point, an independent appraisal of the planning and modelling work carried out to that point is appropriate. This requires a thorough understanding of all the disciplines involved, in that the right questions can be asked, and the maximum confidence be put in the results achieved - or, alternatively, the main weaknesses of the existing work highlighted.

• Examples: Validation of Traffic Forecasts for the Proposed Piccadilly Line Extension to London Heathrow Terminal 5; Station Facilities Economic Assessment; Timetable Change Analysis, for South West Trains; Bletchley Station Upgrade Appraisal

Due Diligence

When banks or governments lend money for railway projects, they usually require an audit of demand forecasting and operational planning work. This is to ensure that their money is secure, and that a better solution cannot be found. With our range of skills in both commercial and operational areas of railway planning, we have carried out a number of these studies, highlighting the risks involved - and also noting where areas of apparent risk actually provide relatively little exposure to the lender.

• Example: Due Diligence for the South of Tagus light rail scheme, Portugal

Independent Expert

The railway industry requires many companies to work together, sometimes as suppliers to each other, but on other occasions as competitors for traffic or asset use. Inevitably, disagreements occasionally arise, and it can be helpful to find a company such as the Railway Consultancy which has the independence and expertise to help find some middle ground. A particular problem arises in Britain with ORCATS, the system designed to allocate revenue between train operators, since a number of factors lie outside its control.

• Example: independent advice to resolve disputes between British train operating companies

© The Railway Consultancy Ltd, Tel +44 (0)20 8676 0395, Fax +44 (0)20 8778 7439
First Floor, South Tower, Crystal Palace Railway Station, London SE19 2AZ

http://www.railcons.com/audit.shtml
Last Modified: Monday, October 8, 2007