Risks that are not transferred to the private sector are considered retained by government, and represent a cost to the project regardless of the procurement model selected. Retained risks are quantified, where possible, using the same methodologies explained above, with the resulting expected value being equivalent to the government's expected cost of self-insuring them. Partnerships BC recommends that a contingency fund, also referred to as an owner's reserve, reflecting the value of these retained risks, be included in the financial model and identified in the project budget and funding analysis.