HS2's Chief Executive, Mark Thurston, says more joint buying of materials, cooperation across supply chains, and potential changes to timing and phasing are among the options being considered to curb rising costs.
HS2 is Europe's biggest infrastructure project. The first phase, between London and Birmingham, is 40% complete, with almost 30,000 people working on it. However, soaring inflation has increased the cost of materials. Mr Thurston said he was looking at the project's timing and phasing with the government.
Speaking to the BBC, Mr Thurston recently said:
"We're looking at the timing of the project, the phasing of the project, we're looking at where we can use our supply chain to secure a lot of those things that are costing us more through inflation."
Responding to the news, a spokesperson for APM recently said:
Ultimately, projects like this need to be measured on the benefits they produce. Good project outcomes require the right conditions for success. In a challenging economic environment, HS2 may face difficult decisions in order to ensure its intended benefits can be realised.
As the chartered membership organisation for the project profession, we acknowledge the importance of learning from challenging situations such as this. We welcome HS2's transparency and encourage them to share their learnings with the wider project community to increase its collective knowledge.