Risk And Reward In The Pfi Contracts

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Mastering the Risky Business of Public-Private Partnerships in Infrastructure

Author : Manal Fouad
Publisher : International Monetary Fund
ISBN 13 : 1513576569
Total Pages : 61 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Mastering the Risky Business of Public-Private Partnerships in Infrastructure by : Manal Fouad

Download or read book Mastering the Risky Business of Public-Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.

Public-Private Partnerships

Author : Akintola Akintoye
Publisher : John Wiley & Sons
ISBN 13 : 0470680431
Total Pages : 448 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Public-Private Partnerships by : Akintola Akintoye

Download or read book Public-Private Partnerships written by Akintola Akintoye and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Role of Cost Saving and Innovation in PFI Projects

Author : Construction Industry Council
Publisher : Thomas Telford
ISBN 13 : 0727728792
Total Pages : 146 pages
Book Rating : 4.7/5 (277 download)

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Book Synopsis The Role of Cost Saving and Innovation in PFI Projects by : Construction Industry Council

Download or read book The Role of Cost Saving and Innovation in PFI Projects written by Construction Industry Council and published by Thomas Telford. This book was released on 2000-06-02 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Private Finance Initiative has been seen ... as a way of achieving the Egan Report's objective of better client value for money fron construction-based projects. [...] This report presents the findings of a study set up to test the proposition that PFI will yield VFM [Value for money] by stimulating innovation"--Back cover.

Cost Planning of PFI and PPP Building Projects

Author : Abdelhalim Boussabaine
Publisher : Routledge
ISBN 13 : 1134224877
Total Pages : 296 pages
Book Rating : 4.1/5 (342 download)

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Book Synopsis Cost Planning of PFI and PPP Building Projects by : Abdelhalim Boussabaine

Download or read book Cost Planning of PFI and PPP Building Projects written by Abdelhalim Boussabaine and published by Routledge. This book was released on 2013-04-03 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This topical and timely book presents and innovative approach to dealing with the complexities of cost planning in PFI. PFI/PPP projects have a significantly different costing environment from conventionally procured projects, requiring cost analysts to use their expertise and innovative thinking to develop whole-life cost solutions that deliver value for money to the client, thus improving public building assets performance. Abdelhalim Boussabaine provides a thorough grounding in the theory of PFI, from its early evolution through to examples of current projects. In particular, the rationale for private financing of public services, arguments for and against PFI and 'value for money' mechanisms are discussed. The book presents an innovative framework for whole-life value and calls for changes in the way whole life cycle value is perceived, created and exchanged. Cost Planning of PFI and PPP Building Projects provides the reader with existing knowledge as well as present innovative thinking for future development and management of PFI/PPP cost planning processes. Given the importance and novelty of this book, academics, professionals, undergraduate and postgraduate students will find this book valuable.

Risk Pricing Strategies for Public-Private Partnership Projects

Author : Abdelhalim Boussabaine
Publisher : John Wiley & Sons
ISBN 13 : 1405177926
Total Pages : 293 pages
Book Rating : 4.4/5 (51 download)

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Book Synopsis Risk Pricing Strategies for Public-Private Partnership Projects by : Abdelhalim Boussabaine

Download or read book Risk Pricing Strategies for Public-Private Partnership Projects written by Abdelhalim Boussabaine and published by John Wiley & Sons. This book was released on 2013-12-16 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

The Wiley Guide to Project, Program, and Portfolio Management

Author : Peter W. G. Morris
Publisher : John Wiley & Sons
ISBN 13 : 1118000307
Total Pages : 360 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis The Wiley Guide to Project, Program, and Portfolio Management by : Peter W. G. Morris

Download or read book The Wiley Guide to Project, Program, and Portfolio Management written by Peter W. G. Morris and published by John Wiley & Sons. This book was released on 2010-09-24 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to project management and its interaction with other management systems and strategies The Wiley Guides to the Management of Projects address critical, need-to-know information that will enable professionals to successfully manage projects in most businesses and help students learn the best practices of the industry. They contain not only well-known and widely used basic project management practices but also the newest and most cutting-edge concepts in the broader theory and practice of managing projects. This first book in the series, The Wiley Guide to Project, Program & Portfolio Management, is based on the "meta" level of management, which, simply stated, asserts that project management must be integrated throughout an organization in order to achieve its full potential to enhance the bottom line. This book will show you how to fully understand and exploit the strategic management of projects, portfolios, and program management and their linkage with context and strategy in other concepts and processes, such as quality management, concurrent engineering, just-in-time delivery, systems management and engineering, teams, and statistical quality control. Featuring contributions from experts all around the world, this invaluable resource book offers authoritative project management applications for industry, service businesses, and government agencies. Complete your understanding of project management with these other books in The Wiley Guides to the Management of Projects series: * The Wiley Guide to Project Control * The Wiley Guide to Project Organization & Project Management Competencies * The Wiley Guide to Project Technology, Supply Chain & Procurement Management

The Challenge of Public-private Partnerships

Author : Graeme A. Hodge
Publisher : Edward Elgar Publishing
ISBN 13 : 9781845428082
Total Pages : 374 pages
Book Rating : 4.4/5 (28 download)

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Book Synopsis The Challenge of Public-private Partnerships by : Graeme A. Hodge

Download or read book The Challenge of Public-private Partnerships written by Graeme A. Hodge and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Análise comparativa sobre parceria público privada e contrato de serviço social nos seguintes locais: Reino Unido, Estados Unidos, Suécia, Dinamarca, Alemanha, Austrália, Ásia.

Allocation and Management of Risk in Ministry of Defence PFI Projects

Author : Great Britain. National Audit Office
Publisher : The Stationery Office
ISBN 13 : 9780102953121
Total Pages : 70 pages
Book Rating : 4.9/5 (531 download)

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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.

Contractual Procedures in the Construction Industry

Author : Allan Ashworth
Publisher : Routledge
ISBN 13 : 1315529033
Total Pages : 588 pages
Book Rating : 4.3/5 (155 download)

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Book Synopsis Contractual Procedures in the Construction Industry by : Allan Ashworth

Download or read book Contractual Procedures in the Construction Industry written by Allan Ashworth and published by Routledge. This book was released on 2018-03-13 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contractual Procedures in the Construction Industry 7th edition aims to provide students with a comprehensive understanding of the subject, and reinforces the changes that are taking place within the construction industry. The book looks at contract law within the context of construction contracts, it examines the different procurement routes that have evolved over time and the particular aspects relating to design and construction, lean methods of construction and the advantages and disadvantages of PFI/PPP and its variants. It covers the development of partnering, supply chain management, design and build and the way that the clients and professions have adapted to change in the procurement of buildings and engineering projects. This book is an indispensable companion for students taking undergraduate courses in Building and Surveying, Quantity Surveying, Construction Management and Project Management. It is also suitable for students on HND/C courses in Building and Construction Management as well as foundation degree courses in Building and Construction Management. Key features of the new edition include: A revised chapter covering the concept of value for money in line with the greater emphasis on added value throughout the industry today. A new chapter covering developments in information technology applications (building information modelling, blockchains, data analytics, smart contracts and others) and construction procurement. Deeper coverage of the strategies that need to be considered in respect of contract selection. Improved discussion of sustainability and the increasing importance of resilience in the built environment. Concise descriptions of some the more important construction case laws.

Pfi and Construction Contracts

Author : David Hickman
Publisher : Chartridge Books Oxford
ISBN 13 : 1902375335
Total Pages : 113 pages
Book Rating : 4.9/5 (23 download)

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Book Synopsis Pfi and Construction Contracts by : David Hickman

Download or read book Pfi and Construction Contracts written by David Hickman and published by Chartridge Books Oxford. This book was released on 2000 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary: This book examines contracts in the construction industry in relation to the Private Finance Initiative (PFI), such as what distinguishes construction in a PFI environment from a traditional contract. The author analyses the key elements of the construction sub-contract and interface between contractor and operator. The author, David Hickman, is a Partner with a leading international law firm and has worked on many PFI projects. Contents: Construction issues on PFI projects: output specification, project company's solution, design and construction standards, warranties, government regulations, timescales, lifecycle costs, interface between construction/operational phase, design development, performance payment system. Flow down of risks to subcontracts: how risk is flowed down, termination risk, termination issues for the construction subcontractor, warranties, bonds and guarantees. Use and adaptation of standard forms for the construction subcontract: a standard form (JCT 81 or 98), preparation of the contract where a standard form is being adapted, bespoke contracts. Negotiating key elements of construction subcontract: scope of works, liability level, compensation events and relief events, extensions of time, liquidated damages, payments, variations, certification/completion, independent certifier. Collateral agreements. Interface between contractor/operator. Finance/funding: debt finance, subordinated debt, equity, bond finance, key funding issues, the financial model, banks and risk. Insurance: insurance and risk allocation, insurances required by the construction company, who effects these, levels and breadth of insurance, banks and insurance, authority issues, what the construction company must do. Post contract-construction phase problems: variations during construction, disputes, DRP at subcontract level, overruns/extensions of time. Future developments. Appendices: Treasury Taskforce Guidance.wordings. Sample risk matrix.

Project Finance for Construction and Infrastructure

Author : Frederik Pretorius
Publisher : John Wiley & Sons
ISBN 13 : 0470697938
Total Pages : 372 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Project Finance for Construction and Infrastructure by : Frederik Pretorius

Download or read book Project Finance for Construction and Infrastructure written by Frederik Pretorius and published by John Wiley & Sons. This book was released on 2008-04-30 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a self-contained text on the logic and institutions of project finance, supplemented by a series of project finance case studies illustrating applications in different economic environments, across different jurisdictions and at different stages of development. It will introduce an analytical framework drawing on applied institutional economics that includes and concentrates primarily on an analysis of the institutional logic behind generic project finance arrangements. The application of the institutional framework will be demonstrated with project cases from Hong Kong, Thailand, India, Europe and Azerbaijan – each at different stages of development. While each project case will have a general theme and will highlight aspects of interest to built environment professionals, it will primarily be used to illustrate one or more specific PF/PFI principle.

Financing Infrastructure Projects

Author : Tony Merna
Publisher : Thomas Telford
ISBN 13 : 9780727730404
Total Pages : 306 pages
Book Rating : 4.7/5 (34 download)

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Book Synopsis Financing Infrastructure Projects by : Tony Merna

Download or read book Financing Infrastructure Projects written by Tony Merna and published by Thomas Telford. This book was released on 2002 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: - Project finance as a tool for financing infrastructure projects - Public finance for infrastructure projects - Financial instruments - Financial engineering - Restructuring projects - Financial markets - The concession or build-own-operate-transfer (BOOT) procurement strategy - The private finance initiative - Challenges and opportunities for infrastructure development in developing countries - Financial institutions - Privatisation as a method of financing infrastructure projects - Typical risks in the procurement of infrastructure projects - Mechanism for risk management and its application to risks in private finance initiative projects - Insurance and bonding - Case study of a toll bridge project - Case study on managing project financial risks utilising financial engineering techniques

Private Finance Initiative

Author : Great Britain: Parliament: House of Commons: Treasury Committee
Publisher : The Stationery Office
ISBN 13 : 9780215040190
Total Pages : 28 pages
Book Rating : 4.0/5 (41 download)

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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 2012-01-11 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Responses to HC 1146, session 2010-12 (ISBN 9780215561206)

PFI in housing and hospitals

Author : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher : The Stationery Office
ISBN 13 : 9780215555922
Total Pages : 40 pages
Book Rating : 4.5/5 (559 download)

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Book Synopsis PFI in housing and hospitals by : Great Britain: Parliament: House of Commons: Committee of Public Accounts

Download or read book PFI in housing and hospitals written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-01-18 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Health and the Department for Communities and Local Government (the Departments) are responsible for sizeable portfolios of PFI projects covering hospitals and social housing. By April 2009 there were 76 operational PFI hospitals in England and over 13,000 homes had been built or refurbished through PFI. The letting of contracts and the responsibility for managing them is devolved to NHS Trusts and local authorities. The Departments are responsible for overseeing their PFI programmes and reporting to the public and Parliament on value for money. The Committee can find no clear and explicit justification and evaluation for the use of PFI in terms of its value for money. In many cases local authorities and Trusts chose the PFI route because the Departments offered no realistic funding alternative. Other concerns are central government's failure to use the market leverage that comes from overseeing multiple contracts, and the lack of robust central data to support effective programme management. It is clear that the implementation of PFI projects could be improved. Many PFI housing procurements have taken very much longer, and cost a great deal more, than originally planned. On hospitals, most are receiving the services expected at the point contracts were signed and are generally being well managed. There are, however, wide and unexplained variations in the cost of hospital support services, such as cleaning, catering and portering. Departments are not using their own buying power to leverage gains for the taxpayer.

The Routledge Companion to Public-Private Partnerships

Author : Piet de Vries
Publisher : Routledge
ISBN 13 : 1136163301
Total Pages : 520 pages
Book Rating : 4.1/5 (361 download)

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Book Synopsis The Routledge Companion to Public-Private Partnerships by : Piet de Vries

Download or read book The Routledge Companion to Public-Private Partnerships written by Piet de Vries and published by Routledge. This book was released on 2013-03-05 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: A public-private partnership (PPP) is a contractual arrangement with appropriate risk sharing between public and private partners for the delivery of public infrastructure or services, which is intended to create value-for-money to the taxpayer. The Routledge Companion to Public-Private Partnerships provides a cutting-edge survey of the field. PPPs remain a highly controversial subject matter globally and this comprehensive and authoritative volume provides a terrific compendium of information for students and scholars charged with understanding, critiquing and advancing this model. With sections devoted to legal aspects, institutional economics perspectives, finance and accountability - the editors draw together an impressive range of contributors from around the world.

Risk Management in Project Organisations

Author : Peter Edwards
Publisher : Routledge
ISBN 13 : 1135392420
Total Pages : 198 pages
Book Rating : 4.1/5 (353 download)

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Book Synopsis Risk Management in Project Organisations by : Peter Edwards

Download or read book Risk Management in Project Organisations written by Peter Edwards and published by Routledge. This book was released on 2013-10-11 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book enhances the reader's understanding of the nature and presence of risk by raising the organisation's awareness of the risks it faces, and formalising the systems needed to deal with and learn from those risks. While based on the experience of the construction industry, the book also acts as a broader project management text, meeting the needs of project managers and students in many disciplines and professions from architecture and construction through engineering and commerce to IT, finance and banking. Essential for anyone studying or involved in organisational decision-making for projects, this book will help readers to develop confidence in dealing with risk in a systmatic manner.

Update on PFI Debt Refinancing and the PFI Equity Market

Author : Great Britain: National Audit Office
Publisher : The Stationery Office
ISBN 13 : 0102937575
Total Pages : 72 pages
Book Rating : 4.1/5 (29 download)

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Book Synopsis Update on PFI Debt Refinancing and the PFI Equity Market by : Great Britain: National Audit Office

Download or read book Update on PFI Debt Refinancing and the PFI Equity Market written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2006-04-21 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Findings from this NAO report include that the government has secured gains of £137 million from Private Finance Initiative (PFI) debt refinancings under new arrangements introduced by the Treasury in 2002 (including £102 million from four large refinancings (one of the London Underground contracts and three hospital projects: Norfolk and Norwich, Darent Valley and Bromley). The NAO found that the new sharing arrangements through a voluntary Code appear to be generally working well but there have been exceptions, for example in three road projects the public sector missed out on at least £1.7 million because gains were not shared in accordance with the voluntary code. The report also describes the emergence of the PFI secondary market which is enabling equity investors in PFI projects to sell their shares on to new investors.