Award

Development of financial model compliant with FAST modelling standard

WATER SERVICES REGULATION AUTHORITY

This public procurement record has 1 release in its history.

Award

18 Nov 2016 at 20:17

Award Notice
Summary of the contracting process

The WATER SERVICES REGULATION AUTHORITY is seeking contractors for the development of a financial model compliant with the FAST modelling standard. This procurement process falls under the services industry category and is based in the West Midlands and London, United Kingdom. The contract is currently in the Award stage, having been awarded to F1F9 UK Limited following the tender submission deadline on 15 February 2016. Key deliverables include a completed financial model and an Excel-based reconciliation tool, both to be delivered by 31 March 2016, with a total contract value of £54,400.

This tender presents a valuable opportunity for businesses specialising in financial modelling and consultancy services, particularly those with expertise in the FAST modelling standard. Small and medium-sized enterprises (SMEs) that can demonstrate a track record in rebuilding existing financial models and possess the capability to collaborate with multiple modellers will be well-suited to compete. Engaging in this contract could enhance a company's portfolio and establish a foothold in the public sector, facilitating business growth through future tenders and similar projects.

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Notice Information

Notice Title

Development of financial model compliant with FAST modelling standard

Notice Description

The primary purpose of this work will be to rebuild the PR14 financial model in a way that is compliant with the FAST modelling standard. This will provide Ofwat with a flexible, easily adapted platform on which the PR19 financial model can be built, once Ofwat's Water 2020 programme has determined the key elements of policy. The rebuild does not need to mimic the exact structure of the PR14 Financial Model. For example, multiple input sheets could be consolidated into a single input sheet. The PR14 financial model has nine phases and the functionality of these are required in the rebuilt financial model. However the nine phases include live calculations and financial statements for wholesale water, wholesale wastewater, total wholesale and appointee. Ofwat does not require all calculations to be live or for all of these statements to be rebuilt. The minimum scope of rebuilding the financial statements is two phases - phase one and nine. Not all of the functionality relating to Non Household (NHH) Retail included in the financial model was used. A simplified approach to NHH in the rebuilt model is therefore all that is required. The model shall be macro free and shall be free of named ranges, except for links to external workbooks. The PR14 financial model includes a user interface ribbon. This is not required in the rebuilt model. The scope excludes drafting of new rulebooks or user guides. The scope of work includes a reconciliation tool that will enable Ofwat to demonstrate that key model outputs, including allowed revenue building blocks, appointee nominal financial statements and executive summary outputs equal those of our PR14 populated FD financial models. Skills and Experience The Customer expects that the Contractor's staff nominated for the Services will have the following skills and experience: In depth knowledge of the FAST modelling standard; Experience of rapidly rebuilding existing models; Experience of using multiple modellers to work in parallel to deliver a single model output. Key Outputs and Deliverables The Contractor will be required to produce the following Deliverables setting out the Contractor's evidenced findings against the scope of work. 1. A completed financial model by 31 March 2016. 2. An excel-based reconciliation tool (for reconciling key outputs from the completed financial model to our PR14 FD financial model) by 31 March 2016. 3. Evidence that demonstrates that the completed financial model reconciles to key outputs from PR14 populated FD financial models by 31 March 2016. All three Deliverables must be produced by 31 March 2016. The completed financial model and reconciliation tool shall be compliant with 32-bit Excel 2013. They shall be free from passwords.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a035128d-adc9-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/efd4f22e-69a3-4d8c-8b3d-d555cd72f45d
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

CPV Codes

73000000 - Research and development services and related consultancy services

Notice Value(s)

Tender Value
£54,400 Under £100K
Lots Value
Not specified
Awards Value
£54,400 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20169 years ago
Submission Deadline
15 Feb 2016Expired
Future Notice Date
Not specified
Award Date
19 Feb 201610 years ago
Contract Period
19 Feb 2016 - 31 Mar 2016 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
WATER SERVICES REGULATION AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England), TLI London
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

F1F9

Further Information

Open Contracting Data Standard (OCDS)

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