Public Value Report

The Supplier will produce a report; a desk based assessment of water companies' published material relating to company purpose and public value commitments. This will consist of a review and assessment of the various reports and position statements on social impact and public purpose to identify their credibility, how they are validated or verified and to draw out best practice. The report must: - Assess the nature of company reporting; establish how companies are reporting on public value and the validity of the statements. Establish whether they are forward looking or retrospective, and whether they are adding real public value in how they carry out their core activities. - Assess how public value is reported in other sectors, and identify examples of best practice. - Provide recommendations for a framework for evaluation, and how Ofwat can monitor and assess company reporting on public value. - Be consistent with Ofwat's strategy, Time to Act, Together, to encourage water companies to deliver greater public value. - Be consistent with Ofwat's Board Leadership, Transparency and Governance Principles 2019. - Anything else the Supplier identifies that is not listed above to be agreed in advance. Skills and experience Our research partner should have credibility and ideally be able to support our strategy on delivering public value over the long-term. We will need to see that the research partner has examples of previous research and assessments in this area. Key deliverables Deliverable 1 - Outline methodology. The methodology will outline the research and assessment plan including the documents to be included and the areas that will be explored. Deliverable 2 - Interim report on initial findings. Provide an interim report on the initial findings. The initial findings will be reviewed and assessed by the Ofwat project lead, Mark Anderson, before moving to the final stage. Deliverable 3 - Final report on the assessment, examples of best practice and recommendations for a framework for evaluation. The final report will be reviewed, and providing expectations are met, signed off by the Ofwat project lead, Mark Anderson. Timescales The Supplier will provide the key deliverables in accordance with the following timescales: Key Deliverables (date) Deliverable 1: Outline methodology (5 February 2020) Deliverable 2: Interim report on initial findings (28 February 2020) Deliverable 3: Final report (31 March 2020) Any changes to the delivery date/s for the key deliverables will be agreed in advance between the parties. All work must be completed by 31 March 2020.