Both benchmarking and market testing are primarily the responsibility of the Project Company1 in terms of cost and management. However, both the Project Company and the Authority must agree on a value for money outcome, and it is essential that the process is open, transparent and inclusive. Users should be kept informed of progress, and adequate time should be allowed for funders' involvement. Roles and responsibilities must be clearly established, and a clear methodology for assessing benchmarking data or evaluating competitive bids must be agreed at the outset.
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1 In this guidance the term "Project Company" is used throughout to refer to the Special Purpose Vehicle (SPV) which is party to the contract with the Authority and which is normally responsible for managing the value test. However, where another entity is responsible for value testing, such as the facilities management provider, the principles set out in this document equally apply.