3.1  The Physical Structure

3.1.1  The Model is a spreadsheet model built in Microsoft Excel 2002, comprising 12 worksheets structured into:

(a)  Receiving inputs;

(b)  Making calculations; and

(c)  Providing summary outputs.

3.1.2  There are also supplementary VfM calculation worksheets that receive inputs from the Model input sheets and provide input/scenario/output summaries that are consistent with the Quantitative Evaluation Spreadsheet, issued by HMT in August 2004.

3.1.3  A detailed structure of the worksheets and the completion of the input sheets is included in Part II of this guidance.

3.1.4  Note:  In order for the Model to run successfully, Analysis Toolpak needs to be installed in Excel.  To do this, the user should select Tools\Add-ins in Excel, and then tick the box "Analysis Toolpak" (or check that the box is ticked).