2.9 The conclusions of the VfM assessment, the evidence to justify the conclusions and the proposed project framework for the spending period should be summarised in existing, publicly available documents - typically Departmental Investment Strategies. However, where there are genuine issues of either commercial confidentiality or of prejudicing the public sector's negotiating position, departments may decide that the availability of such evidence needs to be circumscribed.
2.10 Box 2.2 below sets out commonly used terms throughout this Guidance.
| Box 2.2 Common terms used throughout the Guidance Programme: a portfolio of projects that have certain common characteristics and which are selected or commissioned, planned and managed in a co-ordinated way and which together achieve a set of defined business objectives. Departmental investment programmes vary significantly. For some, a single accommodation project might constitute the major part of its investment programme. Others may have many complex capital programmes and subprogrammes.Departments will therefore need to consider and determine what, for them, constitutes a coherent 'investment programme'. Project: is one of the singular schemes which have been grouped together in the programme. As noted in the guidance (see para 1.8), individually procured projects under £20m are unsuitable for PFI. Unique projects and Pathfinders: projects in new sectors or those being implemented as pilots are considered as pathfinder projects. In such instances, or where the project is considered novel or unique, the Procuring Authority should engage the HM Treasury spending team and PFI team as early as possible to establish how the VfM assessment should be taken forward. The general process is expected to be as noted in para 3.5 for these projects. |