6 In this report we provide an update on developments since June 2014, including programme progress, and cost estimates. We examine how the Department and the Environment Agency have managed risks in areas which are now substantively complete, particularly in setting objectives and appraising options.
7 In 2014, we did not review the evidence base supporting the decision to build the Tunnel to avoid influencing the outcome of ongoing competitions for the construction and financing of the Tunnel. We now look at the process for developing standards, and for appraising options; the strength of the underlying evidence base (including analysis and quality assurance arrangements); and evidence on the prospects that the Tunnel will deliver the Department's objectives. We look at the risks to customers and the taxpayer which will need to be managed by the public sector to protect value for money during the construction phase. It is too early to form a value-for-money conclusion on the whole project but this report, together with our 2014 report, outlines what we would expect to see when the project is complete.