The primary deliverable to be produced during this stage is the detailed Feasibility Study, which will comprise of, at a minimum, a needs assessment, procurement options analysis, scoping, Due Diligence, risk assessment, qualitative and quantitative Value for Money analysis, procurement method selection, and the project strategy. The Feasibility Study is not intended nor must it be perceived as a tool to gain approval. Instead, it is a necessary procedure that enables the critical assessment of a project and the preparation of a robust implementation plan, regardless of the eventual method and option of procurement adopted. The Feasibility Study development process outlined in this section represents a collation of best practices on how a typical PPP Project is analysed for viability. However, since the circumstances of individual projects vary greatly, government entities are encouraged to consult the Department of Finance in order to discuss how these may need to be tailored to suit the particular circumstances of the project in question.
A PPP Feasibility Study differs from a traditional public services delivery Feasibility Study. The traditional Feasibility Study focusses on the assessment of public policy, and economic and technical feasibility studies conducted by the Government Entity. The aim of a PPP Feasibility Study is to go beyond this, and undertake a detailed procurement options analysis in order to identify the most appropriate Method of Procurement that provides the greatest Value for Money savings. The purpose of this section of the guidance note is threefold: ensure accountability and transparency in identifying the delivery option that provides the greatest Value for Money savings; ensure that sufficient information is provided in order to secure commitment to the best Value for Money delivery option; and, establish a mechanism to gauge and monitor performance at each stage of the project's lifecycle.