Conventional Procurement Option

1.83  Given that, in the Spreadsheet, Capital Expenditure is subject to Optimism Bias adjustments, the Input Value for Capital Expenditure should be expressed before the application of any contingencies. In addition, as VAT is a transfer payment and therefore, is ignored in discounted cash flow analyses, the Input Value for Capital Expenditure should also be stated in the Spreadsheet before the application of VAT.