4.40 The overall implication of this research into individually procured small PFI projects is that, although PFI continues to perform well in these small schemes, its transaction and development costs and procurement times are disproportionately large. These factors make it difficult for small PFI schemes to consistently obtain value for money unless projects can be bundled together, a process outlined in paragraphs 8.26 to 8.40. Chapter 7 outlines policy measures designed to take account of this.