Elevated risk means increased cost

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Elevated risk means increased costMultiple sources close to the HS2 project have confirmed that ‘interim costs’ for main civil works for phase one submitted by contractors are currently above HS2 Ltd’s target cost of £6.6 billion (New Civil Engineer reported).

[HS2 civil works £1bn above target cost, Katherine Smale, NCE, 12 June 2018]

While one source said that the collective price was coming in at “around £1.2bn” over budget, another said that some bids were “as much as 30% to 40% higher” than their individual target price.

As a result, NCE understands that the notice to proceed has been pushed back from November until February 2019 with one source claiming that they had been told to “go away and sharpen their pencils” to cut costs.

[…] However, a HS2 spokesperson said that the project “remains on track, and within [the] original cost package”.

Last month, NCE’s sister publication Ground Engineering reported

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