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Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102951929
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This NAO report forms part of a number of NAO reports looking at PFI (Private Finance Initiative) projects undertaken across the public sector. PFIs are contractual arrangements with private sector companies to design, build, finance and operate institutions such as schools and hospitals. At present there are over 500 operational projects throughout the UK, with a combined capital of £44 billion. It is also estimated that including future payments, with many projects running up until 2031-32, capital will rise to £91 billion. Given the length of many of the contracts, it is inevitable that operational changes to services will be required, so it is important that PFI contracts have flexibility, with built in value for money. The report is divided into three parts, with appendices. The NAO has set out a number of finding including: that PFI deals are offering sufficient flexibility to the public sector; that some projects achieve better value than others, but that (i) higher value changes were not always competitively tendered; (ii) for minor works, there was little consistency in the methods used by the public sector; (iii) that the cost of replacing items throughout the life of the contract was also inconsistently applied; (iv) that contractors had often charged additional fees, which were not specified in the original contract. The NAO recommendations, include: where there is a relevant contract clause, competitive tendering should be undertaken; for existing contract deals, authorities employing contractors need to put in place consistent and robust means to validate the costs of small changes; public authorities should explore with their private sector partners the feasibility of clarifying current contracts, so they follow current best practice; contract management should be properly resourced in order to manage the change process. Public sector authorities could improve value for money of operational changes by: adopting a strategic approach to changes; keeping a good permanent record of changes and payments made; fostering open lines of communication with front-line users and other stakeholders as well as the PFI contractor.
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102951929
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This NAO report forms part of a number of NAO reports looking at PFI (Private Finance Initiative) projects undertaken across the public sector. PFIs are contractual arrangements with private sector companies to design, build, finance and operate institutions such as schools and hospitals. At present there are over 500 operational projects throughout the UK, with a combined capital of £44 billion. It is also estimated that including future payments, with many projects running up until 2031-32, capital will rise to £91 billion. Given the length of many of the contracts, it is inevitable that operational changes to services will be required, so it is important that PFI contracts have flexibility, with built in value for money. The report is divided into three parts, with appendices. The NAO has set out a number of finding including: that PFI deals are offering sufficient flexibility to the public sector; that some projects achieve better value than others, but that (i) higher value changes were not always competitively tendered; (ii) for minor works, there was little consistency in the methods used by the public sector; (iii) that the cost of replacing items throughout the life of the contract was also inconsistently applied; (iv) that contractors had often charged additional fees, which were not specified in the original contract. The NAO recommendations, include: where there is a relevant contract clause, competitive tendering should be undertaken; for existing contract deals, authorities employing contractors need to put in place consistent and robust means to validate the costs of small changes; public authorities should explore with their private sector partners the feasibility of clarifying current contracts, so they follow current best practice; contract management should be properly resourced in order to manage the change process. Public sector authorities could improve value for money of operational changes by: adopting a strategic approach to changes; keeping a good permanent record of changes and payments made; fostering open lines of communication with front-line users and other stakeholders as well as the PFI contractor.
Author: Marcus C. Jefferies
Publisher: Routledge
ISBN: 1317635027
Category : Technology & Engineering
Languages : en
Pages : 375
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Book Description
The last three decades have seen the evolution of Public–Private Partnerships (PPPs) and Relationship Contracting (RC) as alternative procurement approaches to traditional methods of delivering public infrastructure. The potential for growth in these new forms of procurement has led to an on-going debate on the nature of requirements, particularly in terms of policy development, encouraging private investment and value for money. A key argument for Governments to procure projects using PPPs and RC is that the process delivers better value for all the stakeholders, including the community and asset end-users. This wide-ranging study of such crucial procurement issues includes international historical context, collaboration and risk management, with a focus on sustainable procurement approaches. The international significance of PPPs and RC procurement is reinforced with case study examples from the UK, Europe, North America, South Africa and the Asia-Pacific. It features cutting-edge research from around the world on subjects such as: Reviews and reflection of the PPP approach Project Alliancing Implementation of RC in developing countries Changes in procurement policy Value for money, collaboration and stakeholder involvement Growth and emergence of PPPs in Asia Risk management Including contributions from some of the world's most prominent academics and practitioners in this field, it is a crucial guide to the strategic choices governments now face for the provision of infrastructure, between using ‘public’ or ‘private’ mechanisms, or a combination of the two.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215523525
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This is the thirty-sixth report from the Committee of Public Accounts (HCP 332, session 2007-08, ISBN 9780215523525). It follows on from an NAO report (HCP 205, session 2007-08, Making Changes in Operational PFI Projects, ISBN 9780102951929). The Committee examined: staffing and management changes; the reasons for not putting larger changes out to competitive tender; the charging of management fees by SPVs (Special Purpose Vehicle), which are the separate companies created by the different companies involved in the PFI deal; the value for money of small changes. With PFI the public sector enter into long-term contractual arrangements with private sector companies to design, build, finance and operate a particular asset, such as a hospital or school. There are now over 500 operational projects with a combined capital value of £57 billion, with future payments amounting to £181 billion. With such long term contracts. changes will be needed to the services and assets provided under the PFI project. In 2006, £180 million was spent on changes. Major changes costing £100,000 or more accounted for 90 per cent of the total value of changes to PFI projects in 2006. The Committee has set out six conclusions and recommendations, including: in 2006, changes to operational PFI projects totalled £180 million, but many operational PFI contracts are under-managed; there are limits to the Treasury's capacity to control the allocation of resources to contract management at a local level; there is insufficient central support for contract managers; at present, 27 per cent of project changes over £100,000 are not subject to competition; management fees cost the taxpayer over £6 million a year; there are large differences in the cost of making similar minor changes to PFI projects.
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: Home Office
Publisher: The Stationery Office
ISBN: 9780101829229
Category : Political Science
Languages : en
Pages : 64
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Book Description
Response to HC 1456 (ISBN 9780215040169)
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: Julian Le Vay
Publisher: Policy Press
ISBN: 1447313224
Category : Political Science
Languages : en
Pages : 332
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Book Description
A quarter of a century has passed since the Thatcher government launched one of its most controversial reforms: privately run prisons. This book offers an assessment of the successes and failures of that initiative, comparing public and private prisons, analyzing the possible and claimed benefits of competition, and looking closely at how well the government has managed the unusual quasi-market that the privatization push created. Drawing on first-person interviews with key players and his own experience working in prison finance, Julian Le Vay presents the most valuable look yet at the results of prison privatization for government, citizens, and prisoners.
Author:
Publisher: The NHS Confederation
ISBN: 185947151X
Category : Health services administration
Languages : en
Pages : 147
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Book Description
Author: Ron Matthews
Publisher: Cambridge University Press
ISBN: 1108424929
Category : Business & Economics
Languages : en
Pages : 525
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Book Description
A contemporary and comprehensive analysis of national and supranational defence governance in an uncertain and increasingly dangerous world. This book will appeal to policymakers, analysts, graduate students and academics interested in defence economics, political economy, public economics and public policy.
Author: Lori Keating
Publisher: CRC Press
ISBN: 1317082575
Category : Law
Languages : en
Pages : 185
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Book Description
PPP/PFI contracts often share a number of features: they run over a very long period of time; they are conceived without a complete understanding of how requirements may change and despite the rhetoric they tend to create a context where dispute and litigation rather than partnership are the norm. In this environment, effective auditing is essential to ensure that projects are delivering what the end-user requires. Audits are both a public sector right, and a matter of good management sense. Performance Auditing of Public Sector Property Contracts is a practical guide to performance auditing for public sector property managers with a series of guidelines for auditors of public sector property contracts. The book concentrates on Facilities Management contracts. Lori Keating explains the basis for the process; how to retain balance, independence and rigour and how to audit intangible performance measures and other tricky areas. The book follows an audit process from commencement to conclusion, and contains a discussion of factors that contribute to the success of any audit. It is essential reading for public sector auditors, PPP project managers and contractors.
