Preparing For Road Investment Strategy 3 EnhancementsdescriptionThe Purposes Of This Study Are Two Fold Firstly It Is Intended To Provide Understanding To The ORR Of The Independently Audited Unit Rates And Assumptions Underlying Highways England s Internal Scheme Cost Estimates And That These Are Comparable With Appropriate External Benchmarks Secondly The Study Should Provide The ORR With A Better Understanding Of The Way In Which Rates Are Updated Over Time In Doing So The Study Should Assess The Extent To Which Improvements In Efficiency Are Reflected In The Forecast Costs Of Future Projects We Expect The Outcomes Of The Study To Shape The Approach We Take To Assessing Highways England s Plans For RP3 For Example If We Have A High Level Of Confidence In The Assumptions Underlying Highways England s Forecasts This Will Allow Us To Devote Less Resources To Challenging The Cost Estimates For Individual Projects
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