2. This note provides a list of the key issues that should be addressed by acquisition teams in any market sounding activity carried out to support the Treasury PFI Value For Money Stage 2 Qualitative Assessment. It will thus inform the Business Case presented at either the Initial Gate or Review Note stages under the PFI-specific IAB approvals procedure. It is envisaged that the market sounding questionnaire would form part of a briefing pack issued to companies which the acquisition team have identified as potential service providers ahead of direct discussions with the private sector.
3. It is in the nature of Feasibility Studies that any given requirement will have project-specific issues that will need to be investigated as part of market sounding. Hence, although this note provides a basis for ensuring the key issues are addressed, it should not be used prescriptively if the maximum value of the exercise is to be obtained.