Through their wider value for money work National Audit Office have seen how major programmes often face challenges in their early stages. Unclear objectives and rising costs can contribute to poor value for money. There are similar early risks associated with any of the approaches taken to restore the Palace. This report aims to identify the value for money risks relevant to the approach approved by Parliament – doing repair work while it moves elsewhere. It recommends how Parliament and the Sponsor Body can reduce these risks and describes the potential impact of not doing so. It outlines:
- the Programme background (Part One); and
- progress developing the Programme, alongside the relevant value for money risks (Part Two).
This report is based on work carried out between January and March 2020 and draws on the NAO back catalogue of reports. As such, the timeframes included in this report represent the position as at March 2020 – these may change as the impact of the ongoing COVID-19 pandemic becomes clearer. Because the Programme is at an early stage,NAO do not seek to conclude on its value for money or whether the best value for money option for the works was selected. They will revisit our understanding of the risks as the Programme develops.
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