1.25 Before considering the detailed issues set out in this Guidance, it is essential that the public sector body undertakes an initial analysis to assess whether the JV proposition has a sound business or service delivery rationale that is commercially viable and likely to offer the best VfM to the public sector.
1.26 Once the public sector body is satisfied that the underlying business fundamentals warrant the formation of a JV, it should examine the issues for early consideration set out in Chapter 3. In particular, different types of public sector body have different legal powers, different funding regimes, different governance arrangements, internal resources and access to advice - all these may have implications for what is achievable and appropriate given the scale of activities involved.