After the adhesive cures add extension boxes to the outlets and switches and spray foam into every gap top bottom and around each box.
How to insulate concrete walls with foam board.
Now as you glue the panels to the exposed concrete blocks leave a inch gap at the floor and ceiling and cut holes in the panels to fit around outlets and wall switches.
The correct method of using rigid foam is to run continuous 4 foot by 8 foot sheets of the foam across the concrete basement wall making the rigid foam the de facto wall.
The concrete should be dry and free from cracks before installing foam insulation boards.
Interior insulation refers to insulation applied to the interior side of the concrete masonry as shown in figure 1.
Lay a panel of polystyrene.
Simply offset the studs from the wall and the foam when applied will completely seal the wall and insulate it.
The moisture drive in a basement is from the interior to the exterior so the spray foam prevents any condensation or mold growth while providing the highest r value per inch 6.
If necessary address moisture problems and seal cracks before you begin.
After that thin furring strips are installed on top of the foam to provide a firm base for the drywall screws and drywall.