Model Audit

Stagecoach Rail

Rail Franchise Bid Model

Providing a modelling best practice confirmation report for the rail company’s bid for the Thameslink, Southern and Great Northern franchise.

Third party verification

We gave Stagecoach the independent model audit needed to satisfy the Department for Transport

Multi-model testing

We successfully audited over a dozen spreadsheet models which formed part of the bid model suite

Improved confidence

Testing operational scenarios allowed Stagecoach to eliminate errors and bid assuredly

Challenge

The Department for Transport requires specific model audit procedures to be performed by Rail franchise bidders. Stagecoach Rail needed an independent firm to analyse a suite of models that would support the bid.

Solution

We agreed a timetable that aligned with the client’s bidding process and internal milestones, then used our proprietary software to analyse the client model suite. This involved reviewing each model in the suite against best practice requirements, then agree any actions and timings before re-reviewing changes and preparing the final report.

Results

After following modelling best practice confirmation procedures during the bidding process, we issued initial findings and agreed actions and timings within the bidder’s timescales. We’ve also done similar for Stagecoach’s 2016 South Western franchise bid.

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