(2.2)  Procurement options.

Value for money must also be shown in relation to the best procurement option. This should be done using the Treasury standardised VfM assessment procedure3. This includes both qualitative and quantitative elements, which should both contribute to informing a wider judgement. Local authorities need to include a Stage 2 project assessment in the OBC, which will build on the Stage 1 programme assessment produced by the relevant sponsoring department. They should comment on any areas where their assessment differs from the general programme assumptions. Authorities should detail the sources of their information, and provide supporting material such as benchmarking against similar projects. The data used should be consistent with that used in other financial models.