Public Private Partnerships in Construction

Collaborative working and partnering between the public and private sectors has been fairly standard practice, in some form or other, for over 100 years. However, its profile has risen only comparatively recently. In the UK, it is little more than 10 years since the most widely known Public Private Partnership, the Private Finance Initiative, was launched and yet it has already been described by some as 'the new economic paradigm'. Initially a public relations disaster, the PFI has now become the preferred method of procurement for many UK Government agencies, such as the NHS 38bn capital building programme, whereas other bodies oppose the introduction of the private sector into the provision of traditional public sector services. Although the use of PPPs / PFIs is the most controversial procurement strategy currently employed by the UK government, it currently accounts for approximately 11% of government expenditure and there is no doubt that it is here to stay. What lessons can be learned from thepast 10 years? PPP's have spread far beyond the UK, and governments as diverse as Cambodia and California are now advocating its use. In a whole range of aspects, such as finance, risk management and contracts, they are becoming more settled, and PPP deals are now easier to close. Meanwhile there continues to be a lack of understanding and an authoritative and objective source of information on PPPs. With its detailed presentation of contemporary issues illustrated with case studies this book provides a valuable practical resource for a range of professionals.