C.2 The MPRG process is owned by the Treasury. The MPRG is a pool of experts, from which panels are put together to scrutinise the largest and most complex major government projects. MPRG Panels challenge projects on deliverability, affordability and value for money at key points in the HMT approvals process (SOC; OBC; FBC) and as required at other points during their lifecycle.
• Deliverability - The extent to which a project is deemed likely to deliver the expected benefits within the declared cost/time/performance envelope.
• Affordability - The extent to which the level of expenditure and financial risk involved in a project can be taken on, given a parent department's overall financial position, both singly and in light of its other funding priorities.
• Value for money - The optimum combination of whole-life cost and quality (or fitness for purpose) to meet the users' requirement.