2.5 For private finance projects to achieve VFM depends on whether they achieve sufficient efficiency savings, quality improvements, innovation or better management of risk to justify the additional costs, risks and issues it also brings.15 The following section of the paper covers the costs, benefits and issues which collectively need to be considered in the assessment of the VFM of using private finance.
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15 A framework for evaluating the implementation of PFI projects, National Audit Office (2006).