Transparency data
BIS Government Major Project Portfolio data, September 2015
Updated 7 July 2016
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| Project Name | The Francis Crick Institute (formerly UKCMRI) | Project Eagle (formerly Urenco Future Options) | New Polar Research Vessel | Local Land Charges (LLC) Programme | ICR Monetisation |
|---|---|---|---|---|---|
| Department | BIS | BIS | BIS | BIS | BIS |
| IPA RAG rating (A Delivery Confidence Assessment of the project at a fixed point in time, using a five-point scale, Red – Amber/Red – Amber – Amber/Green – Green; definitions in the IPA Annual Report) | Amber/Green | Amber/Red | Amber/Green | Amber/Red | Amber/Red |
| Description / Aims | The Francis Crick Institute is a joint venture between the UK's largest biomedical research and academic institutions: The Medical Research Council (MRC), Cancer Research UK (CRUK), the Wellcome Trust, University College London, Kings College, London and Imperial College, London. A new research Institution will be established involving the construction of a new facility located close to St Pancras station, London. This facility will accommodate 1,268 scientists when fully operational. The National Institute for Medical Research (NIMR) will be closed. The funds from the sale of the former NIMR site at Mill Hill and the former National Temperance Hospital site will be used as part of this project. | The Shareholder Executive is taking forward preparations for a sale of HMG’s one-third shareholding in Urenco, a uranium enrichment company. | NERC/British Antarctic Survey has a business need to replace its two aging science/logistics support vessels with a new dual role purpose vessel. The FBC calculated that the NPV of the option selected as best overall Value For Money, (design, build operate a new dual role science/logistics support vessel) resulting in a saving of £102m over a period of 25 years representing the anticipated lifetime of the new asset. The reduction in vessel capacity and attendant running costs is predicted to deliver significant savings with only a minor impact of delivery of science days at sea. The Specification/Statement Of Requirements for the new vessel was developed in consultation with the key stakeholders including, but not limited to, the scientific user community; logistics support staff within the British Antarctic Survey and the Supply Side. Working with the selected shipyard, Cammell Laird we are oprimising the design and on track to deliver the vessel in Autumn 2018. Following intensive commissioning and sea trials, the vessel will enter into service in Autumn 2019. | Land Registry will create a single, digital LLC service that will improve access, standardise fees and improve turnaround times for property professionals and citizens. | HM Government is carrying out a programme of asset sales with the purpose of reducing public sector net debt (“PSND”). The Government has announced its intention to sell the pre-Browne Income Contingent Repayment (ICR) student loan book to contribute to this objective and to realise value to the taxpayer. This loan book will be sold in a series of tranches over a number of years. The first tranche of loans is expected to be sold by 2015-16. As is normal with transactions of this type, there will be a value for money assessment made before each sale. Each sale is required to represent value for money and meet other key project objectives to be considered a success. Failure to meet objectives will result in a decision not to sell. |
| Departmental commentary on actions planned or taken on the IPA RAG rating. | On 1st April 2015 the NIMR transferred to the Francis Crick Institute. This highly complex transfer included the transfer of 611 former NIMR staff by TUPE, all NIMR assets and the leasing of the NIMR site. Construction of the new Francis Crick Institute near St. Pancras is scheduled to be complete as planned in November 2015. However, Practical Completion of the building is delayed due to difficulties in completing the extensive commissioning activities. This delay will not impact on the planned overall end date of the project as staff and equipment occupation plans will be accelerated. The project remains within the budget set in 2010. On 30th June 2015 contracts were exchanged with a Developer to sell the NIMR site at Mill Hill. The funds from the sale of this site will be sufficient to complete MRC's funding obligations to the Francis Crick Institute. The sale will be completed when MRC is in a position to fully vacate the site. | No final decision has been made by the British government on the sale of its shares in Urenco. We continue to move forward with preparations for the sale of our shareholding. Any sale of our shareholding will be contingent on safeguarding our security and non-proliferation interests, and delivering value for money for the UK taxpayer | A preferred bidder for the Ship ‘Design and build’ element of the programme will be selected and a signed contract in place by November 2015. Detailed work will be undertaken to consider resource requirements which will then be followed by a recruitment process to fill key posts, for example, an Antarctic Logistics technical advisor and a Business Change Manager within BAS. Further work to resolve uncertainties around costs will be done with to put a detailed programme budget in place early in 2016. | The Outline Business Case was approved by HM Treasury in September 2015 enabling the project to move forward after a period of uncertainty and a re-planning exercise will now be done. Work to secure approval to recruit suitably experienced staff for key posts including a Programme Director is underway with a view to having them in place by the end of 2015. This will include developing improving the organisational capability and capacity within Land Registry. Work on improving stakeholder engagement with both other government departments and external stakeholders is planned. | The first tranche sale has now been moved from a 15/16 timetable to 16/17. |
| Project - Start Date (Latest approved start date) | 01/10/2006 | 01/02/2010 | 01/05/2014 | 01/03/2014 | 01/03/2010 |
| Project - End Date (Latest approved end date) | 31/12/2016 | 15/06/2017 | 05/08/2019 | 28/06/2018 | 31/12/2018 |
| Departmental narrative on schedule, including any deviation from planned schedule (if necessary) | Data not provided | Data not provided | Data not provided | Data not provided | HMG has enhanced its intention to carry out a programme of sales over 5 years with a first sale expected to occur in 2016/17. |
| 2015/16 Budget (£million) | £6.20 | £1.30 | £41.00 | £5.50 | £5.80 |
| 2015/16 Forecast (£million) | £6.20 | £1.30 | £39.70 | £5.50 | £5.80 |
| Variance Budget / Forecast %age | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. |
| Total budgeted whole life costs (£million) (including Non-government costs) | £752.70 | £12.90 | £1,186.00 | £193.30 | £15.29 |
| Departmental Narrative on Budget / Forecast variance for 2015/16 where more than +/- 5% | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. | Budget variance less than 5%. |
| Departmental Narrative on Budgeted Whole Life Costs | The Whole Life Costs represent the total construction costs including contributions from all the participants. | Data not provided | Data not provided | Data not provided | Data not provided |