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Author: Great Britain. National Audit Office
Publisher: The Stationery Office
ISBN: 9780102953121
Category : Technology & Engineering
Languages : en
Pages : 70
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Book Description
Most Ministry of Defence projects funded by PFI deals are delivered satisfactorily, on time and on budget. In six of the eight projects examined by the NAO, the Department has generally achieved value for money through effective allocation and management of risks. Failures to identify and manage risks reduced the value for money achieved from the other two projects reviewed by the NAO. Most MOD PFI projects are now providing important support to military and civilian staff. They cover a portfolio of more than 50 projects delivering a broad range of services such as equipment, buildings, training and communications. The Department has developed commercial disciplines for scrutinising the value for money of its PFI procurements and has extended these into other projects. While the MOD allocates and manages many of the project risks effectively, it does not always have the robust data necessary to understand the risks it is asking the private sector to bear. In at least seven projects, the decision to use PFI has been reversed. Overall, the PFI projects surveyed took an average of 37 months to procure compared with the PFI average across government of 34 months. And larger PFI projects with a capital value over £50 million took the MOD an average of 45 months to procure. This longer procurement time reflects the complexity and special requirements of the Department's projects, but there is scope for the Department to improve the speed at which it closes larger deals. It is seeking to do so through improvements to the oversight of its capital procurements. The NAO also highlight the risk that contractors may incorrectly report performance which would otherwise lead to payment deductions.
Author: Great Britain. National Audit Office
Publisher: The Stationery Office
ISBN: 9780102953121
Category : Technology & Engineering
Languages : en
Pages : 70
Get Book Here
Book Description
Most Ministry of Defence projects funded by PFI deals are delivered satisfactorily, on time and on budget. In six of the eight projects examined by the NAO, the Department has generally achieved value for money through effective allocation and management of risks. Failures to identify and manage risks reduced the value for money achieved from the other two projects reviewed by the NAO. Most MOD PFI projects are now providing important support to military and civilian staff. They cover a portfolio of more than 50 projects delivering a broad range of services such as equipment, buildings, training and communications. The Department has developed commercial disciplines for scrutinising the value for money of its PFI procurements and has extended these into other projects. While the MOD allocates and manages many of the project risks effectively, it does not always have the robust data necessary to understand the risks it is asking the private sector to bear. In at least seven projects, the decision to use PFI has been reversed. Overall, the PFI projects surveyed took an average of 37 months to procure compared with the PFI average across government of 34 months. And larger PFI projects with a capital value over £50 million took the MOD an average of 45 months to procure. This longer procurement time reflects the complexity and special requirements of the Department's projects, but there is scope for the Department to improve the speed at which it closes larger deals. It is seeking to do so through improvements to the oversight of its capital procurements. The NAO also highlight the risk that contractors may incorrectly report performance which would otherwise lead to payment deductions.
Author: Yseult Marique
Publisher: Edward Elgar Publishing
ISBN: 1781004552
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This timely book examines the legal regulation of Public_Private Partnerships (PPPs) and provides a systematic overview of PPPs and their functions. It covers both the contractual relationships between public and private actors and the relationships be
Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Publisher: The Stationery Office
ISBN: 9780108459634
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.
Author: Akintola Akintoye
Publisher: John Wiley & Sons
ISBN: 0470680431
Category : Technology & Engineering
Languages : en
Pages : 448
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Book Description
Public Private Partnership is a key issue in the construction industry – causing much concern among contractors, funders and facility managers. Demand has been building for a thorough analysis ... This edited book will familiarise both researchers and construction professionals working with public private partnerships (PPP) with the issues involved in the planning, implementation and day-to-day management of public private projects. It will show how current risk management methods can help the complex process of managing procurement via such partnerships. The chapters - most authored by a practitioner/academic partnership - are organised round the concepts of best value and use the findings of a major research project investigating Risk Assessment and Management in Private Finance Initiative Projects. The analysis of this research will be supplemented with contributions by leading international experts from Hong Kong, Australia and Singapore, covering hospitals, schools, waste management and housing - to exemplify best practice in PPP-based procurement.
Author: Great Britain. National Audit Office
Publisher:
ISBN:
Category : Contracts
Languages : en
Pages : 62
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Book Description
The Private Finance Initiative (PFI) is a major form of Government procurement for a wide range of public services, including hospitals, prisons, roads, computer systems and government accommodation. There are over 400 PFI contracts currently in force which commit departments to future expenditure of about £100 billion. This report highlights key issues which authorities need to consider when developing and managing relationships with PFI contractors. It is based on a survey of 121 central government PFI projects in progress. The survey was undertaken in 2000 and included the views of authorities and contractors. Key recommendations made include: the importance of a partnership approach between authorities and contractors; authorities should give attention at an early stage in the procurement process to contract management issues; and the need for appropriate procedures for dealing with contract changes.
Author: Adam Burgess
Publisher: Routledge
ISBN: 1317691660
Category : Social Science
Languages : en
Pages : 380
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Book Description
It is over 40 years since we began to reflect upon risk in a more social than technological and economic fashion, firstly making sense of the gap between expert and public assessment of risks, such as to our health and environment. With fixed certainties of the past eroded and the technological leaps of ‘big data’, ours is truly an age of risk, uncertainty and probability - from Google’s algorithms to the daily management of personal lifestyle risks. Academic reflection and research has kept pace with these dizzying developments but remains an intellectually fragmented field, shaped by professional imperatives and disciplinary boundaries, from risk analysis to regulation and social research. This is the first attempt to draw together and define risk studies, through a definitive collection written by the leading scholars in the field. It will be an indispensable resource for the many scholars, students and professionals engaging with risk but lacking a resource to draw it all together.
Author: Abdelhalim Boussabaine
Publisher: John Wiley & Sons
ISBN: 1118785762
Category : Technology & Engineering
Languages : en
Pages : 293
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Book Description
Risk Pricing Strategies for Public-Private Partnership Projects Innovation in the Built Environment The complexity of public–private partnership (PPP) project procurement requires an effective process for pricing, managing and appropriate allocation of risks. The level at which risk is priced and the magnitude of risks transferred to the private sector will have a significant impact on the cost of the PPP deals as well as on the value for money analysis and on the selection of the optimum investment options. The construction industry tends to concentrate on the effectiveness of risk management strategies and to some extent ignores the price of risk and its impact on whole life cost of building assets. There is a pressing need for a universal framework for the determination of fair value of risks throughout the PPP procurement processes. Risk Pricing Strategies for Public–Private Partnership Projects addresses the issues of risk pricing and demonstrates the use of a coherent strategy to arrive at a fair risk price. The focus of the book is on providing risk pricing strategies to maximise return on risk retention and allocation in the procurement of PPP projects. With its up-to-date coverage of the latest developments in risk pricing, and comprehensive treatment of the methodologies involved in designing and building risk pricing strategies, the book offers a simple model for pricing risks. The book follows a thematic structure: PPP processes map; risk, uncertainty and bias; risk pricing management strategies; risk pricing measurement and modelling; risk pricing at each of the project life-cycle stages – and deals with all the important risk pricing issues, using relevant real-world situations through case study examples. It explains how the theory and strategies of risk pricing can be successfully applied to real PPP projects and reflects the broad understanding required by today’s project risk analysts, in their new and important role in PPP contract management. Also in the IBE series Managing Change in Construction Projects Senaratne & Sexton 978 14443 3515 6 Innovation in Small Professional Practices in the Built Environment Lu & Sexton 978 14051 9140 1 Other books of interest Urban Infrastructure: Finance and Management Wellman & Spiller 978 0 470 65635 8 Project Finance for Construction and Infrastructure Pretorius, Chung-Hsu, McInnes, Lejot & Arner Construction Supply Chain Management Pryke 978 14051 5844 2 Policy, Finance & Management for Public-Private Partnerships Edited by Akintoye & Beck 978 14051 7791 7 Strategic Issues in Public-Private Partnerships, 2nd Edition Dewulf, Blanken & Bult-Spiering 978 0 470 65635 8
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102965285
Category : Architecture
Languages : en
Pages : 44
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Book Description
This report, from the National Audit Office (HCP 71, session 2010-11, ISBN 9780102965285), looks at PFI in Housing. The use of PFI by local authorities to improve housing, usually in areas with a high need for housing and where the stock condition is particularly poor, has had a measure of success, but risks to value for money of the programme have not been managed. In the context of this programme, PFI has been a flexible and useful funding route for local authorities to improve existing housing and build new stock. However, the majority of projects required significant increases in central funding prior to contract signature and all have suffered delays. Twenty one of the 25 projects which have been signed to date have experienced cost increases, with 12 of these over 100 per cent. All signed projects, for which the NAO was able to obtain data, were delayed, on average by 2 years and 6 months. For early projects this was partly because PFI was new to the housing sector and the Department for Communities and Local Government had to develop its understanding of stock condition issues. Also, the Department's management for early projects was also weak and under-resourced. While the capital cost of PFI housing projects is similar to other developments, the Department's evaluation to date has not taken account of the full costs. Procurement also tends to take more time, which can increase procurement and tender costs for local authorities and bidders.
Author: Raufdeen Rameezdeen
Publisher: Cambridge Scholars Publishing
ISBN: 1527527026
Category : Business & Economics
Languages : en
Pages : 378
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Book Description
All the contributions to this volume are condensed versions of research projects undertaken by students in the final year of the online Master of Project Management degree delivered by the University of South Australia in conjunction with Open Universities Australia. Contributors to this book consist primarily of graduated Masters’ students, supported by supervising academics and relevant industry specialists and practitioners. As a result, the authors present current research interests across the breadth of Australia – with many of the perspectives demonstrating relevance to practice globally. The research perspectives presented here focus on four key themes of project management theory and practice: people and organisations; methodologies and practice domains; issues in application; and continuous improvement and benchmarking. Collectively, this work will be of particular interest to project management academics and researchers, post-graduate students, and the broader project management community.
Author: Peter Fewings
Publisher: Routledge
ISBN: 1351122029
Category : Technology & Engineering
Languages : en
Pages : 508
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Book Description
Construction Project Management: An Integrated Approach is a management approach to leading projects and the effective choice and use of project management tools and techniques. It seeks to push the boundaries of project management to take on board future needs and user issues. Integration of the construction project, meaning closer relations between the project team, the supply chain and the client, is long overdue; however, despite some signs of growth in this area, the industry nonetheless remains fragmented in its approach. The role of the project manager is to integrate diverse interests and unify objectives to achieve a common goal. This has now broadened to include a responsibility, on the parts of both client and team, to ensure that construction addresses current and future societal needs. From an economic perspective, a great deal of waste is connected with conflict, thus a holistic approach that increases the efficiency and effectiveness of the task at hand will inject energy into project management. This third edition now takes on board the impact of technology in building information modelling and other digitised technologies such as artificial intelligence. Together, they open up avenues for more direct and incisive action to test creative design, manufacture directly and communicate spontaneously and intuitively. In time, such technologies will change the role of project managers but will never take away their responsibility to be passionate about construction and to integrate the team. A new chapter has been added that considers future societal needs. This edition is also reordered to make the project life cycle and process chapters clearer. This book combines best practice in construction with the theories underpinning project management and presents a wealth of practical case studies – many new. It focuses on all construction disciplines that may manage projects. The book is of unique value to students in the later years of undergraduate courses and those on specialist postgraduate courses in project management and also for practitioners in all disciplines and clients who have experienced the frustration caused by the fragmentation of construction projects.
