66. As with traditional procurement projects there is a need to evaluate the performance of the selected option following implementation. While the performance of the contractor in meeting the Statement of Requirement will be continually monitored, a more substantive evaluation will be needed to see if there are any lessons to be learnt from the negotiation process and the private sector's perception of risk. An area to be specifically addressed is the extent to which the project objectives detailed in the appraisal have been met. For more detailed guidance on project evaluation, see JSP 507 (MOD Guide to Investment Appraisal and Evaluation).
67. It is best practice to monitor the risk mitigation procedures adopted by PFI suppliers so that any lessons that can be learnt may be applied to subsequent management of risks retained by MOD. Continual improvement of risk management in MOD may feed back into better out-turns and affect the quantum of risk adjustments applied to future projects.