5.2.2 Develop an analytical framework

Once responsibilities have been attributed and the aim of the ex-post evaluation study has been defined, it will be necessary to decide which analytical framework is most adequate to achieve the aims of the study. <1> This implies defining:

□ the evaluation criteria and expected outcomes of the project; and

□ the appropriate alternative (i.e. counter factual: what would have happened if the project had not been implemented as a PPP?)

A well-designed PPP contract should have provided for sufficient information, collected during the monitoring phase, to support this evaluation exercise.

PPP projects will normally be defined in terms of Value for Money. This implies identifying both the benefits derived from project outputs and the costs to deliver those outputs, both monetary and in terms of timing. However, more qualitative benefits and costs, such as service quality, contract design and risk allocation, need also to be considered in the evaluation.

In addition to examining the costs and benefits, the evaluation will need to identify which alternatives should have been looked at. These can be alternative procurement models to PPP, or different project delivery and implementation procedures. It is common to use the public sector comparator as a relevant alternative. However, depending on the objectives of the study, other comparators can also be considered, such as the expected Value for Money at the start of the project. <2>,<3>