Both the PSC and Shadow Bid will be full NPV life-cycle cost analyses.
Early assumptions around preliminary planning, architectural and design work, and financial projections will be required to complete these cost estimates. These estimates should only be high-level and not overly complex at this stage but should be supported by previous procurements wherever possible. The assumptions will be further refined in the business case.
Provide an initial sensitivity analysis identifying the key assumptions that are significant enough to change the value for money estimate.