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Allocation and Management of Risk in Ministry of Defence PFI Projects

Author: Great Britain. National Audit Office

Publisher: The Stationery Office

Published: 2008

Total Pages: 70

ISBN-13: 9780102953121

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.

Public–Private Partnerships and the Law

Author: Yseult Marique

Publisher: Edward Elgar Publishing

Published: 2014-08-30

Total Pages: 329

ISBN-13: 1781004552

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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

Private finance projects and off-balance sheet debt

Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs

Publisher: The Stationery Office

Published: 2010-03-17

Total Pages: 330

ISBN-13: 9780108459634

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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.

Public-Private Partnerships

Author: Akintola Akintoye

Publisher: John Wiley & Sons

Published: 2008-04-15

Total Pages: 448

ISBN-13: 0470680431

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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.

Routledge Handbook of Risk Studies

Author: Adam Burgess

Publisher: Routledge

Published: 2016-03-31

Total Pages: 380

ISBN-13: 1317691660

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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.

Perspectives in Project Management

Author: Raufdeen Rameezdeen

Publisher: Cambridge Scholars Publishing

Published: 2019-01-24

Total Pages: 378

ISBN-13: 1527527026

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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.

PFI in housing

Author: Great Britain: National Audit Office

Publisher: The Stationery Office

Published: 2010-06-25

Total Pages: 44

ISBN-13: 9780102965285

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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.

Construction Project Management

Author: Peter Fewings

Publisher: Routledge

Published: 2019-03-21

Total Pages: 508

ISBN-13: 1351122029

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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.