Prior to concluding the TOC Development Process, the offered Project Proposal(s) must be properly evaluated by the Owner. The evaluation process should be similar irrespective of whether the process involves full, partial or non-price competition and robust in order that the Owner and the state can demonstrate effectively to all parties, including unsuccessful Participants in the selection process, that due process has been followed.
As noted elsewhere in this Guidance Note, the TOC Development Process affords the Owner an unusually thorough insight into the Proponent's team and the Project Proposal that is produced. Properly evaluated and concluded, this can offer a significant benefit to the Owner and the government.
The evaluation must account for the following:
• Structured observations during any competitive component of the TOC development process.
• TOC development should be intellectually driven to provide the best project solution to meet the Owner's VfM Statement requirements at a fair price to government. The benefits that accrue through this process should be objectively assessed. They may take the form of higher productivity and therefore lower cost or they may produce a superior solution at a higher cost that is consistent with the VfM Statement. The focus of the process and the evaluation at its conclusion is on VfM as articulated in the tender documentation and the selection criteria.
• All relevant government processes must be followed and requirements observed in the evaluation.
• Probity requirements of the selection process must be followed.
• The Owner must formally identify and evaluate any non-conformances with the Owner's VfM Statement.
• The Owner should assess the risk carried by the alliance or retained by the Owner and formally include its risk adjustment in the evaluation.
• Additional benefits, offered relative to those sought under the Owner's VfM Statement must be properly evaluated and accounted for.
• Proper evaluation of all intangible benefits offered, e.g., those that may accrue to the community outside the Owner's VfM Statement must be properly accounted for in the evaluation.