Better Value Rail (BVR) is a joint initiative between the Department for Transport, the Office of Rail and Road and Network Rail. It is a toolkit aimed to improve early-stage development of rail-based transport projects.
What is Better Value Rail?
BVR is a toolkit aimed at ideas before they become projects. Using this toolkit will help answer some of the key questions in a review of application of the Better Business Cases and Green Book published in 2020.
BVR is a toolkit that that will help to clarify the objectives of transport projects. It can help narrow down the different transport modes that can deliver the objectives and help build a comprehensive description of the project.
BVR is a toolkit for ideas before they become projects to help clarify the objectives of transport projects. This can be used prior to or at the early stage of developing a Strategic Outline Business Case.
BVR also emphasises a proportionate approach, particularly to the investigation of uncertainties and risks that a project might have.
Building a clear foundation of information is essential in going on to create a solid business case for a project.
BVR also helps make sure that cost effective projects that deliver value are able to be clearly identified and prioritised, and the BVR toolkit can help ensure projects get the best value out of investment in rail projects.
The tools are focused on rail based transport modes, but are not limited to mainline rail projects and will be useful to any group or body setting out the case for a rail based transport scheme.
What is ORR’s role?
ORR worked together with the Department for Transport and Network Rail to develop the toolkit to help people develop projects.
ORR supports use of the principles of the BVR toolkit. Ensuring that projects build better business cases with clarity on goals, options, assumptions, costs and benefits will help ensure cost-effective schemes can be identified and help drive better value by saving time and money.
Assembling all the necessary project information will also help ensure projects build better business cases that can be assessed quickly by stakeholders and funders.
Where can I find more information?
BVR has its own website where you can find more information and how to use the toolkit visit www.bettervaluerail.uk