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(SR500) P3 Evaluation: Public Sector Comparator and P3 Shadow Bid 201 (Prerequisite: P3 101)
1/23/2014 1:30 PM - 3:30 PM EST
Value for Money (VfM) analysis allows decision-makers to compare the risk-adjusted net present costs to the procuring agency of different project delivery options. At the pre--rocurement stage, VfM analysis compares the estimated risk-adjusted financial costs of a P3 project over an anticipated concession period (known as a Shadow Bid) to the financial costs of delivering the same project over the same period using a traditional procurement approach (known as the Public Sector Comparator or PSC). This course introduces the methodologies used to estimate the PSC and Shadow Bid, identifies key assumptions and limitations of the methodologies, discusses how the resulting estimates are used in comparing P3 procurement with traditional procurement using Value for Money (VfM) analysis and introduces the participant to the PSC and Shadow Bid Tools in FHWA's P3-VALUE model, i.e., P3--fM Analysis to Learn and Understand Evaluation. Upon completion of this training, participants will be able to:
- Understand the various components of the PSC and Shadow Bid.
- Understand the methodologies used to estimate the PSC and Shadow Bid.
- Identify key assumptions and limitations of the methodologies.
- Understand how the results are used in VfM analysis and financial assessment.
- Begin using the PSC and Shadow Bid Tools in FHWA's P3-VALUE model.
FHWA Office of the Administrator, Public-private partnerships
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