1.10 The Treasury publications, Public Private Partnerships - the Government's Approach, and Appraisal and Evaluation in Central Government, recognise that appropriate risk allocation between the public and private sectors is a key requirement to the achievement of value for money in PFI projects. This reflects the principle that value for money will be achieved where there is optimum transfer of risk such that individual risks are allocated to those best placed to manage them. However, if authorities seek to transfer risks which the private sector cannot manage, value for money will reduce as the private sector seeks to charge a premium for accepting such risks.