Olympic Park Legacy Company (OPLC)
HMG-Compliant Appraisal Methodology.
The OPLC is a joint venture between the Government and the Mayor of London, responsible for the development of a lasting legacy from the London 2012 Olympic and Paralympic Games at the Queen Elizabeth Olympic Park (QEOP) site.
Cited as London's single most important regeneration project for 25 years, the Olympic Park Legacy Company's (OPLC) principal aim is to assist the Government and Mayor in discharging the legacy commitments made in London's bid for the 2012 Olympic Games: to create a lasting legacy from the Games by developing the Queen Elizabeth Olympic Park (QEOP) to become, in time, a new and prosperous part of London.
As a new Government-funded body in charge of a high profile public project, with multiple Founder Member signatories, OPLC has a significant challenge in securing project approvals in a timely manner to achieve successful project delivery. Facing its first spending review settlement, OPLC had an urgent requirement to get approvals in place establish company processes for business case production before the Games.
With a portfolio of over 50 projects ranging from Real Estate development to sustainable Parks & Venues, there were further challenges around the development of an overarching business plan and being able to substantiate the spending review submission.
The company required a complete HMG-Compliant appraisal methodology to be developed and implemented in order to ensure robust justifications of business plan spend. Having previously supported the Olympic Delivery Authority (ODA) to develop a similar process, Pcubed worked with OPLC to design a streamlined approach which was commensurate with the smaller financial sums requested by OPLC in its funding submission. During a twelve-week period, OPLC, with Pcubed assistance, stabilised current activity and issues and implemented a long-term sustainable methodology.
- Process: Review and improve OPLC's project appraisal process to meet the needs of Government Departments and Founder Members. Creation of documentation guidelines and templates.
- Scheduling & Packaging: Programme level planning and project coordination to ensure timely delivery.
- Assurance & Support: Manage the quality and assurance of all business cases, including sole authoring with options appraisal for two key projects - the Park Transformation and the Press & Broadcast Centres.
- Strategy: Advising on the strategy for and supporting the development of business plans and spending review submissions.
- Stakeholder Management: Liaise with Founder Members (the GLA, DCMS and DCLG) and other Government Departments (HM Treasury, Major Projects Authority) to agree processes and timetable to review business cases.
- Reporting: Internal and external reporting and communications including overarching programme schedule.
The key achievements included:
- Supported OPLC to create corporate processes that the company could take forward itself.
- Working alongside all team members to implement a standard templates and practices.
- An agreed programme of work over the six months giving visibility to external stakeholders and building trust.
- Five project justification documents required for the spending review.