Chapters 2 and 3 considered some of the early issues related to the formation of JVs. Before progressing with the establishment of a proposed JV, the public sector body will need to establish that the JV is able to deliver their required aims and objectives, and that it potentially provides the best VfM solution. The business cases and option appraisals will need to consider affordability issues alongside VfM and take into account the wider implications of Competition Law and other commercial issues. The focus of this Chapter is: ● overview of the appraisal of JVs and typical drivers of VfM; ● options appraisal; ● affordability considerations; ● asset and other resources; and ● development stage project governance. |