A P3 should only be used where it offers the best value for money and not necessarily the least cost. Value for money is a combination of whole life cost and quality to meet the user requirements. In establishing value for money it is necessary to ensure that;
• There is no bias in evaluating procurement options.
• Quality standards can be maintained and the long term viability of a P3 service provider can be expected.
• A full evaluation of costs and benefits on a whole life basis is undertaken including an assessment of risk.