FRV: Percentage of FRV capital projects: On time
FRV reported 19% of FRV capital projects were on time at the end of Q3 2025–26. This is a significant negative change to the 2 previous comparable quarters.
FRV clarified that for measure 7.5.i, 'on time' equates to progress of greater than or equal to 90% or more of the planned project milestones (as reflected on the reporting system) have been met. FRV advised that whilst the Q3 results indicate a low number of projects meeting this threshold across the capital program, the results are partially explained by data accuracy issues. Several projects are currently not being updated in the system due to protected industrial action. As a result, while work and progress may still be occurring and budget expended, this would not be fully reflected on the system from a schedule perspective. Despite data accuracy challenges, FRV acknowledges there are clear opportunities for improvement in its capital program performance.
FRV advised they have recently undertaken a Capital Program Evaluation to identify systemic issues that contribute to scheduling and budget under performance. Key findings identified to date include a lack of consistency and effectiveness in project planning and budget forecasting across its portfolio. A suite of initiatives is planned to be implemented to address the key findings of the evaluation.
FRV have explained that they have the objective that all capital projects are on-time and utilise their allocated budget as planned. Whilst historically this has not been achieved at FRV, the implementation of targeted actions stemming from the evaluation is intended to deliver a significant uplift in the performance of FRV’s capital program in coming financial years.
Figure 9: FRV capital projects: On time
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