In the part of the P3 business case, the project sponsor should:
• Outline and assess the procurement options considered for the P3 project and present a recommended procurement strategy (e.g., RFQ and RFP);
• Describe the plan to pre-market the project to maximize competitive tension in the marketplace;
• Set out at a high-level the evaluative procedures (e.g., affordability thresholds, scope ladders, innovations) to be used to select the preferred private partner and how these factors may impact Value for Money;
• Note the timing of any VFM refreshes to take place through the procurement process; and
• Present a high-level timeline for the procurement of the project with major milestones and accountabilities identified.