The regulated project – delivering in regulated industries

Regulation has been with us for over a100 years, The Railways Act 1889 by way of example for the United Kingdom and Ireland laid down stringent rules around operation and safety concentrating on signaling, interlocking and brakes on trains. In modern times, whilst the advent of the Railway Safety Case and legislation after The Railways Act 1993 still looks after technical and operational safety there are now financial and performance requirements intrinsic to the franchising regime and the way that the network operator delivers and maintains the asset in line with an investment strategy managed and agreed through Control Periods with the Regulator. Similarly, the transference of the Water Companies and the responsibility for sewerage from Local Authority control to centralized organizations through The Water Act 1973 and subsequent developments has led to what we know as today as the Periodic Review, a 5 yearly agreement between Regulator and Provider to ensure adequate Capital Maintenance and Capital Investment.

These are just two examples which lie completely within the boundaries of Regulation. Others such as the Post Office, Communications, Power, Aviation and the Office of Fair Trade all within the UK make up the bulk of the remainder, some being country specific but all within the environment of a framework set against a legislative backdrop. To avoid one area of regulation getting out of kilter with the others, the Regulators have established a common meeting place through the Joint Regulators Group (JRG) which meets regularly to look at alignment and areas of commonality that can be shared.

All of our presenters bring with them knowledge from more than one sector. We shall hear from an experienced Regulator to understand the political drivers and operating regime in which they determine their decisions, from a client who has to interpret those outcomes and draw up appropriate contracts, and from a consultant and a contractor.

The programme for the day has been designed to encourage and maximise the dialogue and exchange of views between members. Delegates will also gain from more opportunities to network, before hearing some powerful messages critical for those senior executives who determine their business’s approach to conducting projects within regulated sectors.