47. All procurements should follow the approach set out in the MOD Project Agreement which incorporates SoPC4 and the relevant implementation letters issued by HM Treasury on Standardisation of Contracts. The overall aim of this approach is to establish the use of MOD Project Agreement in order to frame a risk profile for the PFI procurement which provides proper incentives for the private sector to perform efficiently. Value for money judgements should be made on the basis that the risk allocation is a given in this context. It is not appropriate to use value for money arguments to alter the risk sharing arrangements set out in the MOD Project Agreement.