Ask yourself, does this section of your business case answer these questions:
• Does the list of market sounding participants include a sufficient variety of market participants, i.e. equity providers, constructors, operators, etc?
• Are the selected participants those that are most likely to bid on the project in the future? Are they sufficiently qualified and well positioned to speak about details of the project?
• Have the market sounding process and participants been clearly presented? Is the rationale for who was selected to participate in the market soundings been disclosed?
• Is it clear that market soundings were conducted without prejudice and in a manner that allowed participants to speak freely about their concerns regarding the project?