Assuming the same base costs under the PSC and the ASB (with the exception of the premium under AFP) leads to a conservative assumption of the value for money under AFP. It is conservative because it assumes that the private-sector party does not introduce any value-added innovations to reduce the ASB. Such innovations can occur when the responsibilities for design, construction, financing and maintenance are assumed by a single party - who will then optimize the trade-offs that are available between these different project cost elements. This is possible in the case of AFP delivered projects where the responsibilities are assumed by a single party, but not in the case of traditionally delivered projects. Until IO has compiled sufficient empirical data regarding the probability and magnitude of such innovations it will assume that the base costs under AFP and ASB are the same (with the exception of the premium). This assumption will be revisited if, as projects are completed, experience indicates that the base costs under AFP are reliably less than under traditional delivery as a result of innovation.