STAGE #1 - Authorization to release the Request for Proposal (RFP)
The release of all RFPs by IO must be approved by its Board of Directors. The IO Board does not approve release of an RFP unless, among other factors, positive VFM is demonstrated by procuring a project using AFP.
STAGE #2 - Authorization to enter into the Project Agreement
Upon close of the RFP process, bids are evaluated by an evaluation committee. The preferred bid is then compared to the public sector comparator and presented to the IO Board of Directors. At this point the PSC is updated to reflect the most current cost information. Again, the IO Board of Directors will not approve proceeding with AFP procurement unless positive VFM is demonstrable using AFP.
STAGE #3 - Publication of the value for money analysis
After the project agreement has been finalized, IO releases a public report that contains the final VFM analysis, along with details on the project, the procurement process and the project agreement. The objective of the report is to provide the public and others with an understanding of the project and the basis for the decision to deliver the project via AFP.