The review is meant as advice to the Department of Transport on the deliverability of the HS2 programme from its Chairman, Allan Cook, and parts of the report have been redacted where they are commercially sensitive. The review concludes with a number of recommendations: 

• With Phase One well advanced, take the opportunity for a strategic review of the coordination between HS2 Ltd, DfT, TfN, NPR and Network Rail of the scope, timing, funding and efficacy of the plans for investment in both conventional and high speed rail in the Midlands and the North.
• Consider more effective ways to capture the wider strategic and long term benefits HS2 will bring to the country’s transport system, particularly in the Midlands and the North, as well as the wider industrial, regenerative and economic impacts.
• Continue to develop opportunities for further cost efficiencies on Phase One, including challenges to standards and specifications; plus explore the potential for third party or alternative sources of funding. This is especially relevant on Phase 2b where the scheme is less mature and more choices exist for the sponsor and stakeholders.
• Recognise the opportunity and threats presented by the approach to engaging the supply chain, developing commercial models that drive the right outcomes, and work with central government and other agencies on the challenges around resources, capacity and skills.
• To ensure that the HS2 Board and HS2 Ltd are ‘match fit’ to deliver the HS2 programme and its intended outcomes, we will continue to review the arrangements for oversight and governance, delegation and decision making, and enhance the capability and effectiveness of the organisation.

The project, should it go ahead, is currently projected to be able to complete its Phase 2b between 2035 and 2040. Phase 2b is the eastern leg from the West Midlands to Leeds New Lane with intermediate stations in the East Midlands and South Yorkshire; and a western leg from Crewe to Manchester with an intermediate station at Manchester Airport.

Source: www.gov.uk

Another report, that is currently underway, is the Oakervee Review of HS2 which was supposed to be the basis of the Conservative government's decision on whether to carry on with the project. That review has recently experienced turbulence as its Deputy Chair Lord Berkely publicly criticised the interim findings and would not endorse the review's conclusion to go ahead with HS2.