This part of the report examines the first 11 PFI projects in England that have been through a benchmarking/ market test. It shows that experiences have been mixed but in general, authorities and their private sector partners have worked together to overcome contractual weaknesses. Whilst price decreases have been secured in telecommunications projects, in the early PFI building projects, the resulting outcomes of the value test has initially mainly suggested the need for price increases. However, after negotiation, generally there has not been a great degree of price variation, although there have been some service changes to limit the price movement. Value for money has been achieved in some cases but was Uncertain in others.