7.12 The existing PSC will be reformed into a comprehensive project appraisal carried out at the outline business case stage, i.e. prior to procurement and the role of the private sector with the quantitative aspect remaining part of a broader qualitative approach to the assessment. At this stage the procurement team should be in a position to look in greater detail at the specific characteristics of the project. It should be able to make an informed judgment as to whether the original choice of PFI or conventional procurement, made on the basis of the investment programme assessment, is confirmed. Should the specific characteristics of the project suggest that value for money would best be achieved through alternative procurement options, there should be sufficient flexibility within internal budgets for investment to ensure that the best value for money options are taken forward. At this point appraisers should also be preparing for the third stage, considering the project in the light of the potential strength of market interest. Annex A describes the proposed criteria to be used in the reformed PSC in more detail.