Value For Money in PPP Procurement

decision is taken to pursue PPP procurement. ▪ Procurement Decision – what's the best way of buying? ❑ Value for Money ('VFM') assessment based on quality ...

How To Attain Value for Money Comparing PPP and Traditional ...

OECD network of senior PPP officials, Paris, 12-13 April 2010. Governments increasingly use public-private partnerships (PPPs) to pursue value for money.

how to attain value for money comparing ppp and traditional - OECD

Governments increasingly use PPPs to pursue value for money. • Value for money should be the driving force behind PPPs and traditionally procured projects ...

The evaluation criteria of Value for Money (VFM) of Public Private ...

Public Private Partnership (PPP) is seen as an effective way to achieve value for money (VFM) in public projects. These benefits include introducing competition ...

Value for Money

2. Contents. • Introduction to the concepts of Value for Money (VfM). • Measuring VfM The Public Sector Comparator and the UK's previous approach ...

A Review of Value for Money (VfM) Analysis for Comparing Public ...

1. A Review of Value for Money. (VfM) Analysis for Comparing. Public Private Partnerships to. Traditional Procurements. Dorothy Morallos. Adjo Amekudzi, PhD ...

Training and Capacity Building For Successful PPP's

Risk Management in Public-. Private Partnerships, Value for. Money and the Public Sector. Comparator ... Risk Management in PPP's. ● What is risk? ● Oxford ...

PPPs and Value for Money; Thorsten Beckers and Jan Peter Klatt ...

Thorsten Beckers and Jan Peter Klatt. IMF Seminar on PPPs, 8 March 2007, Budapest. PPPs and Value for Money. Theory and Practice. IMF Seminar ...

Public sector comparators and value for money in PPP In the context ...

Public sector comparators and value for money in PPP. In the context of Public-Private Partnerships (“PPP”), governments are often faced with the decision as to ...

Public-Private Partnerships for Highway Infrastructure Capitalizing ...

Key Words contract management, infrastructure, key perfor- mance indicator, performance measure, procurement, public-private partnership, value for money ...

A value for money assessment method for Public Private Partnership ...

PPP bids for value for money, and (2) to identify the elements at each stage of PPP in the value for money assessment process. This research uses a postal ...

PUBLIC PRIVATE PARTNERSHIPS

WHAT DOES IT MEAN WHEN A PPP OFFERS “VALUE FOR MONEY”? The underlying rationale for PPPs is that they may offer value for money. The Partnership ...

Maximising Value for Money in Infrastructure Project Delivery

Drivers of Value for Money in PPPs. ∎ Measuring Value for Money in PPPs. ∎ Progress to Date – NDFA Role in Maximising Value for Money in PPPs. ∎ Pipeline ...

PwC PPP report

a PPP solution. The principal reason for using PPPs is that, where the project is suitable, they can deliver better value for money than the alternatives.

23 Value for Money Assessment (Programme level)

comparing the VfM offered by PPP/PFI compared with conventional procurement. This guidance stipulates the assessment of Value for Money (VfM) in three ...

Guidance Manual - Condensed version

Section 2 The PPP Process. 6. Section 3 The Appointment of Transaction Advisers. 8. Section 4 The Feasibility Study. 9. Section 5 Value for Money. 10 ...

Public-private partnerships prerequisites for prime performance

Lessons from the early movers. Is the PPP model applicable across sectors? 10. Armin Riess. Value-for-money measurement in public-private partnerships. 32 ...

From lessons to principles on governance of PPPs Annual meeting ...

'How to attain value for money'. OECD Journal on Budgeting,. No. 1, 2011. Do the following make PPP more attractive in comparison to TIP? The project ...

Facts and fictions about Public Private Partnerships

Victoria takes a straightforward approach to Public Private. Partnerships (PPPs) – we only use PPPs if they represent good value for money and are in the public ...

MALAYSIA PUBLIC PRIVATE PARTNERSHIP (PPP) GUIDELINE ...

PPP is a public procurement model in which the value for money as shown in Box 1 is optimised through efficient allocation of risks, whole life service approach, ...

Drawing on 20 years of experience as Comptroller and Auditor General, and head of the United Kingdom National Audit Office, Public Sector Auditing: Is it Value for Money? is Sir John Bourn’s own account of the role and influence value for money auditing has in holding governments to account and in helping public bodies improve the ways in which they deliver services.

Key features include:

• In-depth case studies from UK, US, Canada, China, India and Australia;
• Detailed analysis of complex areas of public expenditure such as health, education, privatisation, regulation, defence and IT;
• Examples of how auditing can promote positive outcomes rather than negative post mortems.

This book is relevant for people working in both the public and private sectors, and should be essential reading for the staff of public sector audit institutions around the world, as well as commercial accountancy firms and students of accountancy, politics, economics and public management.

This digital document is a journal article from Accounting Forum, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
In an earlier article in this journal (Grimsey, D., & Lewis, M. K. (2002b). Accounting for Public Private Partnerships. Accounting Forum, 26(3), 245-270), we examined the intricacies of the accounting issues raised by Public Private Partnerships (PPPs). It was argued that the critical accounting question from the public sector's viewpoint is not one of whether the arrangement is on or off balance sheet, but whether it represents good value for money. However, determining value for money for a PPP is an area in which, despite strong criticisms by a number of academic writers of the methods used by practitioners to evaluate value for money, surprisingly little engagement has taken place between the practitioners and the academics on the issues involved. This paper attempts to provide such an engagement. At the same time, because many of the academic critiques focus on the situation in one country (particularly the UK or Australia), we try to put matters into a broader, comparative context by considering approaches to value for money tests in a number of countries. Our examination is thus comparative in the sense of considering value for money tests in different countries, while also comparing the views of academics and practitioners.

This is the fourth edition of Professor Lindauer’s early ground-breaking Macroeconomics series. It holds reader interest because it constantly relates the concepts of modern macroeconomics to today’s “Great Recession” and the policies and conditions that brought it about and are needed to end it. In so doing it explains why not all Keynesian and neo-classical theory and monetary and fiscal policies are applicable to the unique structure and institutions of the United States and how the current recession can be quickly ended - via a new approach to monetary policy, long ago explained by Lindauer and adopted by other countries.

Professor Lindauer’s previous works include books such as “Land Taxation and Indian Economic Development” (with Sarjit Singh); various editions of his Macroeconomics series; and his early ground-breaking journal articles such as “Stabilization Inflation and the Inflation-Unemployment Trade-off.” An abridged non-technical explanation of the theories and policies described herein is available on Kindle as Inflations, Unemployment, and Government Deficits: End Them. It is suitable for journalists, laymen, and lawyers attempting to serve as Federal Reserve governors.

It was while at Claremont as professor of economics and department chairman that he developed the concepts of macro-pragmatic economics and integrated them into the then-existing theories of inflation and unemployment. Importantly in these days of massive unemployment, the unique and quickly effective monetary policies he suggested years ago to end recessions without causing inflation or exacerbating government deficits are immediately available to the Federal Reserve.

Lindauer’s books have been translated into Japanese, Spanish, Korean, Hindi, Urdu, Chinese, and Portuguese and his policy suggestions implemented by central banks around the world. He has served as a visiting professor of economics at Sussex University and the University of California; and as a Distinguished Senior Fulbright Professor at the University of Punjab. He lives and writes in Chicago and Scottsdale. His teaching efforts in retirement are limited to lectures, short courses, and single-term visiting professorships.

The need to upgrade public infrastructure, improve the delivery of public services, and explore new options for partnering with the private sector is being increasingly recognized. While this has created important new business opportunities for the private sector, it has also given rise to new challenges for governments. Having sufficient "fiscal space" for key public expenditure programs that support economic development, including public investment, is essential--even in the context of tight government budgets. However, public investment, like other spending, has to be carried out within a sustainable macroeconomic framework. It also has to be accompanied by efforts to strengthen the efficiency of such spending and to manage the significant fiscal risks that come from new approaches to delivering infrastructure services. Based on the proceedings from a high-level international seminar for government officials, this book looks at options to strengthen the efficiency of public investment and manage fiscal risks from public-private partnerships. It pulls together important contributions from academics, practitioners, and members of several international organizations. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.

Over the last decade or so, private-sector financing through public-private partnerships (PPPs) has become increasingly popular around the world as a way of procuring and maintaining public-sector infrastructure, in sectors such as transportation (roads, bridges, tunnels, railways, ports, airports), social infrastructure (hospitals, schools, prisons, social housing) public utilities (water supply, waste water treatment, waste disposal), government offices and other accommodation, and other specialised services (communications networks or defence equipment).
This book, based on the author's practical experience on the public- and private-sector sides of the table, reviews the key policy issues which arise for the public sector in considering whether to adopt the PPP procurement route, and the specific application of this policy approach in PPP contracts, comparing international practices in this respect. It offers a systematic and integrated approach to financing PPPs within this public-policy framework, and explains the project-finance techniques used for this purpose. The book deals with both the Concession and PFI models of PPP, and provides a structured introduction for those who are new to the subject, whether in the academic, public-sector, investment, finance or contracting fields, as well as an aide memoire for those developing PPP policies or negotiating PPPs.

The author focuses on practical concepts, issues and techniques, and does not assume any prior knowledge of PPP policy issues or financing techniques. The book describes and explains:
* The different types of PPPs and how these have developed
* Why PPPs are attractive to governments
* General policy issues for the public sector in developing a PPP programme
* PPP procurement procedures and bid evaluation
* The use of project-finance techniques for PPPs
* Sources of funding
* Typical PPP contracts and sub-contracts, and their relationship with the project's financial structure
* Risk assessment from the points of view of the public sector, investors, lenders and other project parties
* Structuring the investment and debt financing
* The key issues in negotiating a project-finance debt facility.
In addition the book includes an extensive glossary, as well as cross-referencing.

*Reviews the PPP policy framework and development from an international perspective
*Covers public- and private-sector financial analysis, structuring and investment in PPPs
*No prior knowledge of project financing required

Insightful and comprehensive and covering new subjects like globalization and IT, this text, international in its approach, provides a thorough introduction to the key phases of the contracting process and the skills required by managers in its implementation.

These include:

• policy for contracting
• strategic purchasing
• understanding markets
• communicating the contracting decision
• designing and drafting the contract
• the role of the consumer
• the regulation of service provision
  

Illustrated throughout with practitioner case-studies from a range of OECD countries, this book presents an important new theoretical ‘contract management model’ and a ‘mature contract model', and explores the mechanisms, formal rules and informal norms that influence the way governments contract for public services. This book is essential reading for all students of public management and all public service managers.

 

This digital document is a journal article from Critical Perspectives on Accounting, published by Elsevier in 2005. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
The UK government's Private Finance Initiative (PFI) policy raises a series of questions about the rationality and distributive implications of using private finance, inevitably more expensive than public finance, in essential public services. This paper, by examining the process, the financial methodology, its assumptions and the data used in the system of appraisal for new hospital builds under PFI, shows that the decisions rested upon the ambiguous concepts of risk transfer and value for money at the level of the individual hospital rather than the system or society as a whole. These concepts were far from neutral and provided the rationalising motif for a process that transfers resources from the public at large to the financial elite, thereby obscuring the distribution issues that were largely missing from the policy debate.