The withdrawal of any member of the joint venture or consortium prior to the actual award and/or implementation of the project could be a ground for the cancellation of the contract and forfeiture of the proponent's bid security. The LCE upon recommendation of the PBAC may, however, proceed with the award of the contract or the implementation of the Project if, upon its determination, he finds that the other members of the joint venture or consortium are still capable of successfully carrying out the project or that they have provided a suitable and acceptable substitute with equal or better qualifications.