Public Private Partnership
We now have full control of London Underground's (LU) upgrade and maintenance programme.
In the new post-PPP era, we have prioritised efficiency in costs and delivery alongside improving service for our customers.
Under the 30-year PPP contract, three infrastructure companies (infracos) were responsible for the maintenance and renewal of London Underground's (LU's) assets - its rolling stock, stations, tracks, tunnels and signals. (The operations of the Underground remained directly managed by LU.)
The Tube network is divided into three infraco groupings. Tube Lines remains responsible for the Jubilee, Northern and Piccadilly lines (JNP) under the PPP contract. Tube Lines became a wholly owned subsidiary of TfL in June 2010.
The contract required that the infracos delivered a certain level of daily asset performance, and that they upgraded the assets to deliver improved capability in the longer term. They were subject to financial incentives or penalties based on their delivery against the performance levels set out in the contract.
The remaining two infracos, covering the Bakerloo, Central, Victoria and Waterloo & City lines (BCV) and the Circle, District, Hammersmith & City and Metropolitan, or 'sub-surface' lines (SSL), were the responsibility of Metronet, but are now part of LU.
The 30-year contract is reviewed every seven and a half years. Tube Lines' contract was reviewed in December 2002.
Each year, LU publishes a performance report, which covers all Underground lines. It details performance and assesses what needs to be done to make sure promised improvements are delivered.
Since the PPP, our management of the Tube's assets and projects has been recognised with the achievement of two significant industry accreditations. LU became the first UK railway operator to achieve PAS55 certification, an internationally recognised British Standard on asset management, following a full assessment by Lloyd's Register between January and May 2011.
Achieving PAS55 certification confirms that LU is investing effectively in the Tube Upgrade Programme, and taking a whole-life approach to managing assets. The certification applies to all operational assets (eg track), civil structures (eg embankments) and stations systems (eg fire protection).
LU also progressed to Level 3 of the Office of Government Commerce's P3M3 Maturity Model, an achievement based on the development of a single, consistent Project Management Framework within which all projects are managed.