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Benchmarking And Market Testing The Ongoing Services Component Of Pfi Projects
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Book Synopsis Benchmarking and market testing the ongoing services component of PFI projects by : Great Britain: National Audit Office
Download or read book Benchmarking and market testing the ongoing services component of PFI projects written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2007-06-06 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Of the 500 PFI contracts, that are in the operational stage, over half have a provision for periodically testing the value of certain services such as catering and cleaning. In most contracts the exercise will be undertaken every 5-7 years and the value testing could be done either by benchmarking or market testing. This report is based on an examination of the contractual provision of 34 PFI contracts to assess their expected effectiveness. In addition 11 projects that had already undertaken value testing were also examined. It was found that some of the initial cases of value testing showed value for money was being achieved but in other cases the outcome was uncertain.
Author :Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs Publisher :The Stationery Office ISBN 13 :9780108459634 Total Pages :330 pages Book Rating :4.4/5 (596 download)
Book Synopsis Private finance projects and off-balance sheet debt by : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Download or read book Private finance projects and off-balance sheet debt written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and published by The Stationery Office. This book was released on 2010-03-17 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215037350 Total Pages :44 pages Book Rating :4.0/5 (373 download)
Book Synopsis H.M. Treasury by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book H.M. Treasury written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2007-11-27 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Private Finance Initiative (PFI) there are now 800 contracts with private sector suppliers for services worth in total £155 billion up to 2032. To achieve value for money, all stages of a project have to be managed effectively, including in the tendering process. The Committee, in a 2003 report highlighted a number of issues regarding the PFI tendering process (HCP 764, session 2002-03, ISBN 9780215011244). This report re-examines the tendering and benchmarking in PFI, finding that the Treasury had done little to apply what it had learned from the large number of PFI deals signed; that there has been no improvement in tendering times and significant risks to value for money continue to be taken when public authorities make late changes to deals. The Committee has set out 7 conclusions and recommendations, including: that since 2004, the proportion of deals attracting only two bidders has more than doubled with the risk of no competition; one third of public sector teams made changes to PFI projects after they had selected a single, preferred bidder; benchmarking and market testing have increased prices by up to 14%; public authorities have found it difficult to find appropriate data to benchmark PFI service costs; there is evidence that public authorities, faced with price increases have had to cut back services in hospitals, including portering, to keep contracts affordable; that there is a continuing lack of PFI experience and skills within public procurement teams.
Book Synopsis Allocation and Management of Risk in Ministry of Defence PFI Projects by : Great Britain. National Audit Office
Download or read book Allocation and Management of Risk in Ministry of Defence PFI Projects written by Great Britain. National Audit Office and published by The Stationery Office. This book was released on 2008 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Stationery Office Annual Catalogue by : Stationery Office (Great Britain)
Download or read book The Stationery Office Annual Catalogue written by Stationery Office (Great Britain) and published by . This book was released on 2007 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Handbook on Public-Private Partnership by : Graeme A. Hodge
Download or read book International Handbook on Public-Private Partnership written by Graeme A. Hodge and published by Edward Elgar Publishing. This book was released on 2010-11-30 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Private Partnerships (PPPs) promise much and present an exciting policy option. Yet as this Handbook reveals there is still much debate about the meaning of partnership, and the degree to which potential advantages are in fact being delivered. In this timely Handbook, leading scholars from around the world explore the challenges presented by infrastructure PPPs, and contemplate what lies ahead as governments balance the need to provide innovative new infrastructure against the requirement for good public governance. This Handbook builds on a range of exciting theoretical lenses that span several disciplinary boundaries. It presents innovative insights and informed perspectives from an international base of empirical evidence. This essential Handbook will prove an invaluable reference work for academics, advanced post-graduate students and commentators of PPPs, as well as professionals, infrastructure regulators and government policy advisors.
Book Synopsis Law and Administration by : Carol Harlow
Download or read book Law and Administration written by Carol Harlow and published by Cambridge University Press. This book was released on 2009-08-20 with total page 881 pages. Available in PDF, EPUB and Kindle. Book excerpt: A contextualised study setting out the foundations of administrative law, with discussion of case law and legislation to show practical application.
Book Synopsis Public–Private Partnerships and the Law by : Yseult Marique
Download or read book Public–Private Partnerships and the Law written by Yseult Marique and published by Edward Elgar Publishing. This book was released on 2014-08-30 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis Performance Auditing of Public Sector Property Contracts by : Lori Keating
Download or read book Performance Auditing of Public Sector Property Contracts written by Lori Keating and published by CRC Press. This book was released on 2016-05-13 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Commercial Management by : David Lowe
Download or read book Commercial Management written by David Lowe and published by John Wiley & Sons. This book was released on 2013-05-31 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commercial Management: theory and practice defines the role of commercial management within project-oriented organisations, providing a framework for and helping to develop a critical understanding of the factors that influence commercial management practice. It also identifies generic aspects of this practice and provides a theoretical foundation to these activities, by reference to existing and emergent theories and concepts, as well as to relevant management best practice. The book is structured into four parts: Part 1 Introduction – Commercial Management in Project Environments explores the nature of commercial practice within project-oriented organisations at the buyer-seller interface. It presents a Commercial Management framework, which illustrates the multiple interactions and connections between the purchaser‘s procurement cycle and a supplier‘s bidding and implementation cycles. Additionally, it outlines the principle activities undertaken by the commercial function, identifies the skills and abilities that support these activities and reviews the theories and concepts that underpin commercial practice. Finally, it identifies areas of commonality of practice with other functions found within project-oriented organisations, plus sources of potential conflict and misunderstanding. Part 2 – Elements of Commercial Theory and Practice covers commercial leadership; exploring strategy; risk and uncertainty management; financial decision-making; and key legal issues. Part 3 – Approaches to Commercial Practice addresses best practice management; and commercial and contracting strategies and tactics. Finally, Part 4 – Case Studies offers two extended case studies: Football Stadia (the Millennium Stadium, Cardiff; the Emirates Stadium, Islington; and Wembley Stadium, London); and Heathrow Terminal 5. The book provides a one-stop-shop to the many topics that underpin commercial management practice from both a demand (buy-side) and a supply (sell-side) perspective. It will help develop an understanding of the issues influencing commercial management: leadership, strategy, risk, financial, legal, best practice management and commercial and contracting strategy and tactics. This book’s companion website is at www.wiley.com/go/lowecommercialmanagement and offers invaluable resources for both students and lecturers: • PowerPoint slides for lecturers on each chapter • Sample exam questions for students to practice • Weblinks to key journals and relevant professional bodies
Book Synopsis Making changes in operational PFI projects by : Great Britain: National Audit Office
Download or read book Making changes in operational PFI projects written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2008-01-17 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Public-Private Partnerships in Infrastructure by : Kumar V. Pratap
Download or read book Public-Private Partnerships in Infrastructure written by Kumar V. Pratap and published by Springer. This book was released on 2018-01-09 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides readers with a clear understanding of infrastructure challenges, how Public‐Private Partnerships (PPP) can help, and their use in practice. Infrastructure bottlenecks are generally considered the most important constraint to growth in many countries worldwide. Historically, infrastructure projects have been financed and implemented by the state. However, owing to the fiscal resource crunch, time and cost over‐runs, and the general poor quality of publicly provided infrastructure, many emerging market governments, including India, have increasingly adopted PPPs with billions of dollars of investment riding on them. The results have been varied – from spectacular airports like the Delhi International Airport Limited with the associated controversy over land use, to the renegotiation of contracts as in the case of Tata Mundra Ultra Mega Power Project. Illustrating concepts with relevant case studies, the book makes the challenges of PPPs understandable to industry and management practitioners as well as students of management, public policy and economics. It is useful to practitioners wishing to avoid the pitfalls in the tricky terrain of PPPs and policymakers wanting guidance in crafting proper incentives. It also helps students gain a holistic and “applied” understanding of this increasingly important and popular model. “Public Private Partnerships (PPPs) in India are currently under stress. A comprehensive treatment of the subject by a long-time and erudite practitioner and a management academic, this book should be useful to students trying to learn the basics, while also being valuable to professionals and policy makers. The book suggests that the Government should hold bidders accountable to their submitted bids, thereby preserving sanctity of contract. This will discourage aggressive bidding which has become a serious and endemic problem. The book also suggests the use of better bidding criteria to mitigate traffic risk in transport projects. Policy makers should pay heed to these suggestions as they consider improvements in the PPP policy regime going forward.”—Arvind Subramanian, Chief Economic Adviser, India/div “For a fast-growing India, infrastructure creation and operation is a great challenge and opportunity. This excellent book combines theory and practice on PPPs, and is very useful for professionals and students alike. With case studies and current developments, the authors bring out issues in India with global experiences as well. A must-read for infrastructure practitioners.”—Shailesh Pathak, Chief Executive (Designate), L&T Infrastructure Development Projects Limited “India’s program of private participation in infrastructure attracted worldwide attention as it became one of the largest programs in emerging markets. As well as the volumes of finance mobilized, it garnered interest because of some of the innovative approaches developed, such as Viability Gap Funding. The Indian PPP story is well captured in this book, which also makes the point that India is seeing project cancellations and failures rise. The authors analyze the factors behind this and point the way to a more robust PPP market that learns from the experiences of the past.”—Clive Harris, Practice Manager, Public-Private Partnerships, World Bank/div
Book Synopsis Policing large scale disorder by : Great Britain: Home Office
Download or read book Policing large scale disorder written by Great Britain: Home Office and published by The Stationery Office. This book was released on 2012-02-16 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Response to HC 1456 (ISBN 9780215040169)
Book Synopsis International Investment Law and Comparative Public Law by : Stephan W. Schill
Download or read book International Investment Law and Comparative Public Law written by Stephan W. Schill and published by Oxford University Press. This book was released on 2010-10-14 with total page 922 pages. Available in PDF, EPUB and Kindle. Book excerpt: International investment law is one of fastest-growing areas of international law, but it is plagued by the vagueness of many investors' rights and unpredictable investment tribunal decisions. This books analyses international investment law through the lens of comparative public law to clarify investment treaty obligations and arbitral procedure.
Book Synopsis Handbook on Public–Private Partnerships in International Infrastructure Development by : Stewart R. Clegg
Download or read book Handbook on Public–Private Partnerships in International Infrastructure Development written by Stewart R. Clegg and published by Edward Elgar Publishing. This book was released on 2024-10-03 with total page 535 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook systematically compares public-private partnerships (PPPs) from across the globe to examine factors that have contributed to their success or failure. The editors have brought together an international range of experts to produce richly detailed accounts of the various ways in which PPPs are conducted.
Author :Great Britain: Parliament: House of Commons: Treasury Committee Publisher :The Stationery Office ISBN 13 :9780215561206 Total Pages :120 pages Book Rating :4.5/5 (612 download)
Book Synopsis Private Finance Initiative by : Great Britain: Parliament: House of Commons: Treasury Committee
Download or read book Private Finance Initiative written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2011-08-19 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treasury Committee concludes that Private Finance Initiative (PFI) funding for new infrastructure, such as schools and hospitals, does not provide taxpayers with good value for money and stricter criteria should be introduced to govern its use. Higher borrowing costs since the credit crisis mean that PFI is now an extremely inefficient method of financing projects. Poor investment decisions may continue to be encouraged across the public sector, however, because PFI allows Government departments and public bodies to make big capital investments without committing large sums up front. There is no convincing evidence that savings and efficiencies during the lifetime of PFI projects offset the higher cost of finance. The current Value for Money appraisal system may be biased to favour PFIs and there are problems with the way costs and benefits for such projects are currently calculated. Investment could be increased in the long run if government capital investment were used instead of PFI. Paying off a PFI debt of £1bn may cost taxpayers the same as paying off a direct government debt of £1.7bn. Recommendations include: the Treasury should consider scoring most PFIs in departmental budgets in the same way as direct capital expenditure; the Treasury should discuss with the OBR the treatment of PFI to ensure that PFI cannot be used to 'game' the fiscal rules; the Value for Money assessment process should be subjected to scrutiny by the NAO; the Treasury should review the way in which risk transfer is identified.
Book Synopsis Innovation in the NHS by : Great Britain: National Audit Office
Download or read book Innovation in the NHS written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2005-05-19 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2000 the Department of Health (DH) announced the establishment of NHS Local Improvement Finance Trusts (LIFT) to develop primary and social care services buildings and facilities in England. LIFT is based on long term joint ventures at national and local level: nationally, Partnerships for Health is a joint venture between DH and Partnerships UK (itself a joint venture between the Treasury, Scottish ministers and the private sector); locally the local joint venture company (the LIFTCo) is owned by representatives of the local health economy, Partnerships for Health and a private sector partner. Unlike PFI deals, LIFT deals are based on the local LIFTCo owning the premises which it builds and refurbishes. This report examines whether LIFT will meet local needs and provide value for money. 42 local schemes had been approved by August 2002, mostly in deprived inner city areas, with a total capital value of £711 million. Most LIFTCos are operational, though few buildings are open; most of the developments have been well received by local stakeholders. NAO conclude that LIFT will work. Nationally it is an attractive way of securing improvements, and local schemes appear to be effective and offer value for money. Local management frameworks need to be strengthened.
