The commercial businesses of Queensland Rail (QR) were separated from the Government’s public transport business on 1 July 2010. QR National Limited will be sold via an Initial Public Offering (IPO) – sometimes referred to as a public float planned for the final quarter of 2010, subject to market conditions. On becoming a publicly listed company it is expected that there is great scope for increase in market share. In order to realise the opportunities available to a public company, the following undertakings are necessary: - Business and logistics improvements. - Compliance requirements. - Capital Investment. This report looks at the process to develop a program of work that will deliver on these undertakings. It describes how nominated projects were classified, scoped, prioritised and selected using a filtering process and how sub programs were packaged for delivery. Finally the report outlines a framework for execution. This framework includes an approach to governance, risk management, control of time, cost, scope and benefits realisation. Due to the limited knowledge of the inner workings of QR National, assumptions have been made based on information available in the public domain.