1.8.1 PF2 will offer improved value for money for the public sector and taxpayer through a number of reform measures including:
• the introduction of public sector equity;
• more flexible service provision;
• improved preparation of projects for market, including testing of interest in the market before launch of the procurement;
• adoption of mandatory project timetables and speedier "lean procurement" techniques;
• faster, better public sector scrutiny and approval processes; and
• the development and planned consultation of a new value for money methodology which will replace the existing "Value for Money Guidance" (November 2006) for PF2 projects.
This package of measure should ensure that PF2 projects are set to succeed when they come to market to the benefit of both public and private sector.