As part of the VFM analysis, the Third File shall explore the financial case for the proposed Privatization project, so that this can be compared to the PSC. The Work Team shall develop the Privatization option financial projections by documenting these costs and income in a spreadsheet model based on the envisaged term of the Privatization contract (i.e., the same term as used for the PSC). See illustrative template set out at Table 4 for financial projections and the minimum cost categories that need to be addressed.