During the procurement process there may be non-material changes in scope and/or risk allocations from that described and valued in the business case used by Treasury Board Committee to approve the P3 procurement. (Note that material changes must be approved by Treasury Board Committee as described in Section 4.4.) If there are changes that impact the business case, it must be updated to reflect the final project scope and risk allocations. The final Business Case will include an updated Public Sector Comparator (PSC). To ensure it is not altered, the updated PSC is provided to Justice in a sealed envelope that is not opened until after the financial bids are received.
The updated PSC is subject to a further adjustment prior to being compared to the financial bids submitted by proponents. Two business days prior to the date financial bids are submitted the discount rate is finalized by Finance and Enterprise and applied to the updated PSC. The finalized discount rate is the same rate that is to be used to by proponents in preparing their financial bids. No other changes are made to the PSC; only the financing inputs are updated to be consistent with the inputs used by the proponents. The finalized PSC is compared to proponents' financial bids to determine the value for money.