46. Appropriate sharing of risks is key to ensuring value for money benefits in PFI projects are realised. The benefits flow from ensuring that the many different types of risks inherent in a major investment programme, for example construction risk or the risk associated with the design of the building and its appropriateness for providing the required service, are borne by the party who is best placed to manage them in line with Standardisation of PFI Contracts Version 3 (SoPC3) and the MOD Project Agreement. The MOD's approach to risk in PFI projects does not seek to transfer risks to the private sector as an end in itself. Where risks are transferred, it is to create the correct disciplines and incentives on the private sector to achieve a better outcome.