Cost planning of PFI and PPP building projects

Cost Planning of PFI and PPP Building Projects

Volumn , Issue , 2013, Pages 1-316

  Boussabaine, Abdelhalim ^a  

^a UNIVERSITY OF LIVERPOOL   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84904943083     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.4324/9780203018842     Document Type: Book

References (258)

1. 4Ps (2004a) Project Information Briefing: Castle Hill Primary School and Joint Service Centre, London: Public-Private Partnerships Programme.
2. 4Ps (2004b) PFI Agreement Payment Mechanism, London: Building Schools for the Future.
3. 4Ps (2006) Procurement Option: PFI/PPP, available at: http://www.4ps.co.uk/home.aspx, accessed June 2006.
4. Accounting Standards Board (1998) Responses for the Public Record to Exposure Draft: Amendment to FRS 5 'Reporting the Substance of Transactions': The Private Finance Initiative, London: Accounting Standards Board.
5. Aggarwal, R. (1980) 'Corporate use of sophisticated capital budgeting techniques: a strategic perspective and a critique of survey results', Interfaces, vol. 10, no. 2, pp. 31-34.
6. Akalu, M. (2001) 'Re-examining project appraisal and control: developing a focus on wealth creation', International Journal of Project Management, vol. 19, pp. 375-383.
7. Akintola, K. et al. (1998) 'Risk analysis and management of private finance initiative projects', Engineering Construction and Architectural Management, vol. 1, pp. 9-21.
8. Akintoye, A., Beck, C. and Hardcastle, C. (2003) Public-Private Partnerships: Managing Risks and Opportunities. Oxford: Blackwell.
9. Akintoye, A., Beck, C., Hardcastle, C., Chinyio, E. and Asenova, A. (2001a) 'Risk mitigation practices under PFI environment', in Proceedings of the RICS Foundation Building Research COBRA Conference, Glasgow, 3-5 September.
10. Akintoye, A., Beck, C., Hardcastle, C., Chinyio, E. and Asenova, A. (2001b) Framework for Risk Assessment and Management of Private Finance Initiative, Glasgow: Glasgow Caledonian University.
11. Akintoye, A., Taylor, C. and Fitzgerald, E. (1998) 'Risk analysis and management of private finance initiative projects', Journal of Engineering, Construction and Architectural Management, vol. 5, no. 1, pp. 9-21.
12. Allee, V. (2000) 'The value evolution: addressing larger implications of an intellectual capital and intangibles perspective', Journal of Intellectual Capital, vol. 1, no. 1, pp. 17-32.
13. Alni, M., Petersen, A. and Chapman, K. (2000) 'Applications of a developed quantitative model in building repair and maintenance: case study', Facilities, vol. 19, no. 5/6, pp. 215-221.
14. Architecture: Seminar Series Notes, London: Architectural Association.
15. Arditi, D. and Gunaydin, H. (1997) 'Total quality management in the construction process', International Project Management, vol. 15, no. 4, pp. 235-243.
16. Arthur Andersen and Enterprise LSE (2000) 'Value for money drivers in the private finance initiative', available at: www.ogc.gov.uk.
17. Ashworth, A. (2004) Cost Studies of Buildings, 4th edn. Harlow: Longman Scientific.
18. Ashworth, A. and Skitmore, M. (1991) Accuracy in Estimating, Occasional Paper No. 27, London: The Chartered Institute of Building.
19. Atkinson, R. (1999) 'Project management: cost, time and quality, two best guesses and a phenomenon, it's time to accept other success criteria', International Project Management, vol. 17, no. 6, pp. 337-342.
20. The Audit Commission (1988) Saving Energy in Local Government Buildings, London: HMSO.
21. Audit Scotland (2002) Taking the Initiative: Using PFI Contracts to Renew Council Schools, http://www.audit-scotland.gov.uk.
22. Balfour Beatty (2005) Project Structure, http://www.balfourbeattyppp.com/balfourbeattyppp/.
23. Ball, R., Heafey, M. and King, D. (2000) 'Private finance initiative: a good deal for the public purse or a drain on future generations?', Policy and Politics, vol. 29, no.1, pp. 95-108.
24. Bannister, F. (2001) 'Dismantling the silos: extracting new value from IT investments in public administration', Journal of Information Systems, vol. 11, pp. 65-84.
25. Barber, E. (2003) 'Benchmarking the management of projects: a review of current thinking', International Project Management, vol. 22, no. 6, pp. 301-307.
26. Barnes, W. (1983) 'How to allocate risks in construction contracts', Project Management, vol. 1, no. 1, p. 24-28.
27. Bennett, J. and Ferry, D. (1987) 'Towards a simulated model of the total construction process', Building Cost Modelling and Computers, London: E & FN Spon, pp. 377-385.
28. Bent, F., Holm, S. and Søren, M. (2002) 'Underestimating costs in public works projects: error or lie?' American Planning Association Journal, vol. 68, no. 3, pp. 279-295.
29. Betts, M. (1992) 'Financial control of public- and private-sector construction projects in Singapore', International Project Management, vol. 10, no. 1, pp. 3-10.
30. Bing, L. et al. (2004) 'The allocation of risk in PPP/PFI construction projects in the UK', International Journal of Project Management, vol. 12, no. 1, pp. 17-22.
31. Birnie, J. (1999) 'Private Finance Initiative (PFI) - UK construction industry response', Journal of Construction Procurement, vol. 5, no. 1, pp. 5-14.
32. Blois, K. (2003) 'Using value equations to analyse exchanges', Marketing Intelligence and Planning, vol. 21, no. 1, pp. 16-22.
33. Bourguignon, A. (2005) 'Management accounting and value creation: the profit and loss of reification', Critical Perspective on Accounting, vol. 16, no. 4, pp. 353-389.
34. Boussabaine A.H. (1996) Neurofuzzy Modelling of Cost and Duration of Construction Projects, (EPSRC research grant, GR/K/85001), Research Report No. 4, Liverpool: School of Architecture, University of Liverpool.
35. Boussabaine, A.H. and Elhag, T. (1999a) Statistical Analysis and Cost Models Development for Tender Price Estimation, London: Royal Institution of Chartered Surveyors (EPSRC grant, GR/K/85001).
36. Boussabaine, A.H. and Elhag, T. (1999b) Tender Price Estimation Using ANN Methods (EPSRC research grant, GR/K/85001) Research Report No. 3.
37. Boussabaine, A.H. and Kirkham, R.J. (2004) Whole Life Cycle Costing: Risk and Risk Responses, Oxford: Blackwell Science.
38. Boussabaine, A.H. and Kirkham, R.J. (2006) 'Whole life cycle performance measurement re-engineering for the UK National Health Service estate', Facilities, vol. 24, no. 9/10, pp. 324-342.
39. Boussofiane, A., Martin, S. and Parker, D. (1997) 'The impact on technical efficiency of the UK privatization programme', Applied Economics, vol. 29, pp. 297-310.
40. Bowman, C. and Ambrosini, V. (2000) 'Value creation versus value capture: towards a coherent definition of value in strategy', British Journal of Management, vol. 11, pp. 1-55.
41. Broadbent, J. and Haslam, C. (2000) 'The origins and operation of the Private Finance Initiative', in Private Finance Initiative: Saviour, Villain or Irrelevance? www.ippr.org.uk
42. Broadbent, J. and Laughlim, R. (2003) 'Public-private partnerships: an introduction', Accounting, Auditing and Accountability Journal, vol. 16, no. 3, pp. 332-341.
43. BSI (2002) Building and Constructed Assets Service Life Planning, ISO DIS 1586-5, BSI, UK.
44. CABE (2002) The Value of Good Design: How Buildings and Spaces Create Economic and Social Value, London: Commission for Architecture and the Built Environment.
45. Capper, P. (2004) 'Why use standard forms of contract?' http://www1.fi'dic.org/resources/contracts/ibc_feb2004/capper_feb04.asp.
46. Central Unit of Procurement (CUP) (1991) Specification Writing, London: Central Unit for Procurement.
47. Central Unit of Procurement (CUP) (1992) Life Cycle Costing, London: Central Unit of Procurement.
48. Cesare, M.A., Santamarina, C., Turkstra, C. and Vanmarcke, E.H. (1992) 'Modelling bridge deterioration with Markov chains', Journal of Transportation Engineering, American Society of Civil Engineers, vol. 118, no. 6, pp. 820-833.
49. Cha, H. and O'Connor, J. (2005) 'Optimizing implementation of value management processes for capital projects', ASCE Journal of Construction Engineering and Management, vol. 131, no. 2.
50. Chang, H., Cheng, M. and Das, S. (2004) 'Hospital ownership and operating efficiency: evidence from Taiwan', European Journal of Operational Research, vol. 159, pp. 513-527.
51. Chen, A.N., Hwang, Y. and Shao, B. (2005) 'Measurement and sources of overall and input inefficiencies: evidences and implications in hospital services', European Journal of Operational Research, vol. 161, no. 2, pp. 447-468.
52. Chen, Q and Liu, G. (2003) 'Critical success factors for value management studies in construction', Journal of Construction Engineering and Management, vol. 129, no. 5, pp. 485-491.
53. Choobineh, F. and Behrens, A. (1992) 'Use of intervals and possibility distributions in economic analysis', Journal of Operational Research Society, vol. 43, no. 9, pp. 907-918.
54. City Hospital NHS Trust (2006) Project Agreement and Schedules, London.
55. Clark, G. and Root, A. (1999) 'Infrastructure shortfall in the United Kingdom: the Private Finance Initiative and government policy', Political Geography, vol. 18, no. 3, pp. 341-365.
56. Construction Industry Council (CIC) (2000) The Role of Cost Savings and Innovations in PFI Projects, London: Thomas Telford.
57. Crosby, L.A., Evans, K. and Cowles, D. (1990) 'Relationship quality in services selling: an interpersonal influence perspective', Journal of Marketing, vol. 54, no. 3, pp. 68-81.
58. Dann, N. and Worthing, D. (2005) 'Heritage organisations and conditions surveys', Structural Survey, vol. 23, no. 2, pp. 91-100.
59. de Lemos, T., Betts, M., Eaton, D. and de Almeida, L. (2001) 'Model for management of whole life cycle risk uncertainty in the Private Finance Initiative (PFI)', Journal of Project Finance, vol. 7, pp. 1-13.
60. Department of Health (2004a) Standard Form Project Agreement, Version 3, London: DoH.
61. Department of Health (2004b) The Design Development Protocol for PFI Schemes, Revision 1, London: DoH.
62. Department of Health (2004c) Public-Private Partnerships in the NHS: The Design Development Protocol for PFI Schemes, London: DoH.
63. Design quality indicators by CABE (2005) http://www.dqi.org.uk/reception/library/DQIOnline.PDF, accessed 15.04.05
64. Dikmen, I., Birgonul, M. and Artuk, S. (2005) 'Integrated framework to investigate value innovations', Journal of Management in Engineering, vol. 21, no. 2, 1 April.
65. Dumond, E.J. (2000) 'Value management: an underlying framework', International Journal of Operations and Production Management, vol. 20, no. 9, pp. 1062-1077.
66. Edwards, P. and Shaoul, J. (2002) 'Partnerships: for better, for worse?', Accounting, Auditing and Accountability Journal, vol. 16, no. 3, pp. 397-421.
67. Edwards, P., Shaoul, J., Stafford, A. and Arblaster, L. (2004) 'Evaluating the operation of PFI in roads and hospitals', ACCA Research Report no. 84, Executive Summary, London: Certified Accountants Educational Trust.
68. Elhag, T. and Boussabaine, A.H. (1997) Factors Affecting Cost and Duration (EPSRC GR/K/85001), Research Report No. 1, Liverpool: University of Liverpool.
69. Elhag, T. and Boussabaine, A.H. (1998) Statistical Analysis and Cost Models Development for Construction Projects, (EPSRC GR/K/85001), Research Report No. 2, Liverpool: University of Liverpool.
70. Esty, B.C. (2002) An Overview of Project Finance, 2001 Update, Cambridge, MA: Harvard Business School.
71. Esty, B.C. (2003a) Modern Project Finance: A Casebook, New York: John Wiley & Sons, Inc.
72. Esty, B.C. (2003b) The Economic Motivations for Using Project Finance, 2002 Update, Boston: Harvard Business School.
73. European International Contractors (2003) EIC Contractor's Guide to the FIDIC Conditions of Contract for EPC Turnkey Projects ('Silver Book') 2nd edn, available at: http://www.eicontractors.de//seiten/bookshop/silver_desc.htm.
74. Farrell, L.M. (2003) 'Principal-agency risk in project finance', International Project Management, vol. 21, pp. 547-561.
75. Ferry, D. and Flanagan, R. (1991) Life Cycle Costing: A Radical Approach, London: Construction Industry Research and Information Association.
76. Fight, A. (2005) Introduction to Project Finance, London: Butterworth-Heinemann.
77. Finlay, D. (2003) Risk and Reward in PFIs, London: National Audit Office.
78. Fitch Ratings (2003) PPP-PFI: UK Market Trends and Fitch Rating Criteria for European PPP Transactions, 13 May.
79. Flanagan, R., Kendell, A., Norman, G. and Robinson, G.D. (1987) 'Life cycle costing and risk management', Construction Management and Economics, vol. 5, no. 4, pp. S53-S71.
80. Flanagan, R. and Norman, G. (1983) Life Cycle Costing for Construction, London: Surveyors Publications, RICS.
81. Flanagan, R. and Tate, B. (1997) Cost Control in Building Design, Oxford: Blackwell Science.
82. Flanagan, R. et al. (1989) Life Cycle Costing: Theory and Practice, Oxford: BSP Professional.
83. French, N. and Wiseman, G. (2003) 'The price of space: the convergence of value in use and value exchange', Journal of Property Investment and Finance, vol. 21, no. 1, pp. 23-30.
84. Ford, J. and Shaoul, J. (2001) 'Appraising and evaluating PFI for NHS hospitals', Financial Accountability and management, vol. 17, no. 3, pp. 246-270.
85. Froud, F. (2003) 'The private initiative: risk, uncertainty and the state', Accounting, Organizations and Society, vol. 28, no. 6, pp. 567-589.
86. Fung, J. and Makis, V. (1997) 'An inspection model with generally distributed restoration and repair times', Micro-electron Reliability, vol. 37, no. 3, pp. 381-389.
87. Gadd, S. (2001) Management of Risk in PFU Projects, Bristol: Defence Procurement Agency, Private Finance Unit, Issue 2.
88. Gaffney, D. and Pollock, A. (1999) 'Pump-priming the PFI: why are privately finance schemes being subsidised?' Public Money Management, no. January-March, pp. 55-62.
89. Gaffney, D., Pollock, A.M., Price, D. and Shaoul, J. (1999) 'PFI in the NHS - is there an economic case?', British Medical Journal, vol. 319, pp. 116-119.
90. Gardiner, D. and Stewart, K. (2000) 'Revisiting the golden triangle of cost, time and quality: the role of NPV in project control, success and failure', International Project Management, vol. 18, pp. 251-256.
91. Griffith, A. and Headly, J.D. (1998) 'Management of small building works', Construction Management and Economics, vol. 16, pp. 703-709.
92. Grimsey, D. and Lewis, M.K. (2002) 'Evaluating the risks of public-private partnerships for infrastructure projects', International Journal of Project Management, vol. 20, no. 2, pp. 107-118.
93. Grimshaw, D., Vincent, S. and Willmott, H. (2002) 'Going privately: partnership and outsourcing in UK public services', Public Administration, vol. 80, no. 3, pp. 475-502.
94. Groth, J., Byers, S. and Bogert, J. (1996) 'Capital, economic returns and the creation of value', Management Decision, vol. 34, no. 6, pp. 21-30.
95. Grout, P. (1997) 'The economics of the private finance initiative', Oxford Review of Economic Policy, vol. 13, no. 4, pp. 53-66.
96. Guzhva, V.S. and Pagiavlas, N. (2003) 'Corporate capital structure in turbulent times: a case study of the US airline industry', Journal of Air Transport Management, vol. 9, pp. 371-379.
97. Hall, M., Holt, R. and Purchase, D. (2003) 'Project sponsors under New Public Management: lessons from the frontline', International Project Management, vol. 21, no. 56, pp. 495-502.
98. Harris, F. and McCaffer, R. (1989) Modern Construction Management, Oxford: BSP Professional Books.
99. Hawksworth, J. (2000) 'Implications of the public sector financial control framework for PPPs', in Private Finance Initiative: Saviour, Villain or Irrelevance? London: Commission on Public-Private Partnerships.
100. Higher Education Funding Council for England (HEFCE) (1998) Practical Guide to PFI for Higher Education Institutions, London: Higher Education Funding Council for England.
101. HM Treasury (1993) Private Finance Initiative: Breaking New Ground, London: HM Stationery Office.
102. HM Treasury (1994) Government Procurement: Progress Report to Prime Minister 1993-94, London: HM Stationery Office.
103. HM Treasury (1997a) Partnerships for Prosperity, London: HM Stationery Office.
104. HM Treasury (1997b) The Green Book: Appraisal and Evaluation in Central Government, London: HM Stationery Office.
105. HM Treasury (1998) Constructing the Best Government Client: Pilot Benchmarking Study, London: HM Stationery Office.
106. HM Treasury (1999a) How to Construct a Public Sector Comparator, Series 3, Technical Notes, London: Private Finance Treasury Taskforce, HM Treasury.
107. HM Treasury (1999b) How to Account for PFI Transactions, Technical Note no. 1, London: Private Finance Treasury Taskforce, HM Treasury,
108. HM Treasury (2000a) Public-Private Partnerships: The Government's Approach, London: The Stationery Office.
109. HM Treasury (2000b) Value for Money Drivers in the Private Finance Initiative. (a report by Arthur Andersen and Enterprise LSE) London: Private Finance Treasury Taskforce, HM Treasury.
110. HM Treasury (2003a) PFI: Meeting the Investment Challenge, London: HM Treasury.
111. HM Treasury (2003b) The Green Book: Appraisal and Evaluation in Central Government, London: HM Treasury.
112. HM Treasury (2003c) Supplementary Green Book: Guidance on the Treatment of Optimism Bias, London: HM Treasury.
113. HM Treasury (2004a) Standardisation of PFI Contracts, Version 3, London: The Stationery Office.
114. HM Treasury (2004b) The Green Book: Appraisal and Evaluation in Central Government, rev. edn, London: HM Treasury.
115. HM Treasury (2005) Application Note: Value for Money in Refinancing, London: HM Treasury.
116. HM Treasury (1994) CIOB Handbook of Facilities Management, ed. Alan Spedding, Harlow: Longman.
117. Hood, J. and McGarvey, N. (2002) 'Managing the risks of public-private partnerships in Scottish local government', Policy Studies, vol. 23, no. 1, pp. 21-35.
118. House of Commons Select Committee on Treasury (2002) Fourth Report on the Private Finance Initiative, http://ww.publications.parliament.uk/pa/cm199900/cmselect/cmtreasy147/14703.htm, accessed June 2006.
119. Humphreys, K. (1991) Cost and Optimization Engineering, 3rd edn, New York: McGraw-Hill.
120. Jackson, P. (2001) 'Public sector added value: can bureaucracy deliver?' Public Administration, vol. 79, no. 1, pp 5-28.
121. Johnson, J. (2005) 'Can complexity help us to better understand risk?' in A.H. Boussabaine, W. Lewis, R.J. Kirkham and? Jared (eds) Proceedings of the 1st International Conference on Built Environment Complexity, Liverpool.
122. Kelly, J. and Male, S. (2002) 'Value management', in J. Kelly, R. Morledge and S. Wilkinson (eds) Best Value in Construction, Oxford: Blackwell, pp. 77-99.
123. Kent, D. (2003) 'Public-private partnerships in prison construction and management', in B. Dinesen and J. Thompson (eds) Overview of the MPA's 21st Annual Conference, Major Projects Association, http://www.majorprojects.org/pubdoc/690.pdf.
124. Kirk, S.J. and Dell'Isola, A.J. (1996) Life Cycle Costing for Design Professionals, New York: McGraw-Hill.
125. Kirkham, R.J., Boussabaine, A.H. and Awwad, A.H. (2002) 'Probability distributions of facilities management costs in NHS acute care hospital buildings', Construction Management and Economics, vol. 20, no. 3, pp. 251-261.
126. KPMG (2005) Report on Effectiveness of Operational Contracts in PFI, Report number 215-054, London: KPMG.
127. Langston, C. (2005) Life Cost-Approach to Building Evaluation, NSW: University of New South Wales Press.
128. Lapierre, J. (1997) 'What does value mean in business-to-business professional services?' International Journal of Service Industry Management, vol. 8, no. 5, pp. 377-397.
129. Lefley, F. (1997) 'Approaches to risk and uncertainty in the appraisal of new technology capital projects', International Journal of Production Economics, vol. 53, pp. 21-33.
130. Lefley, F. and Sarkis, J. (1997) 'Short-termism and the appraisal of AMT capital projects in the US and UK', International Journal of Production Research, vol. 35, no. 2, pp. 341-368.
131. Leiasshvily, P. (1996) 'Towards the teleological understanding of economic value', International Journal of Social Economics, vol. 23, no. 9, pp. 4-14.
132. Leifer, D. (1997) 'A basis for the economic appraisal of intelligent building proposals', Proceedings of IBC/IC Intelligent Building Congress, pp. 9-17.
133. Lewendon, R. (2006) 'The use of NEC: engineering and construction contract', http://www.waterways.org.uk/library/restoration/tech_handbook/Chap%2021.pd, accessed May 2006.
134. Li, H., Cheng, E., Love, P. and Irani, Z. (2001) 'Co-operative benchmarking: a tool for partnering excellence in construction', International Project Management, vol. 19, no. 7, pp. 171-179.
135. Li, H., Shen, Q. and Love, P. (2005) 'Cost modelling of office buildings in Hong Kong: an exploratory study', Facilities, vol. 23, no. 9/10, pp. 438-452.
136. Lovata, L. and Costigan, M. (2002) 'Empirical analysis of adopters of economic value added', Management Accounting Research, vol. 13, pp. 215-228.
137. MacDonald and Mott (2002) Review of Large Public Procurement in the UK: A Report on Optimism in Public Procurement, commissioned by HM Treasury, UK.
138. Major Projects Association (2003) 'PFI/PPP projects: are they working?' in B. Dinesen and J. Thompson (eds) Overview of the MPA's Annual Conference, Major Projects Association. http://www.majorprojects.org/pubdoc/690.pdf.
139. Malmi, T. and Ikäheimo, S. (2003) 'Value based management practices: some evidence from the field', Management Accounting Research, vol. 14, no. 3, pp. 235-254.
140. Manual (2001) Project Finance: Introductory Manual on Project Finance for Managers of PPP Projects, Johannesburg: National Treasury of South Africa.
141. Maunder, D, and Haggard, M. (2003) 'Delivering the solutions? Financing "new technologies" ', paper presented at Waste 2004 Conference by Impax Capital and Entec, Stratford-upon-Avon.
142. McDowall, E. (1999a) 'Linking PFI performance to payment', Facilities Management, October, pp. 8-9.
143. McDowall, E. (1999b) 'Specifying performance for PFI, Facilities Management, June, pp. 10-11
144. McDowall, E.(2000) 'Selecting a preferred bidder, Facilities Management, July, pp. 8-9.
145. McGeorge, D. and Palmer, A. (2002) Construction Management: New Directions, Oxford: Blackwell.
146. Miller, R. and Lewis, W. (1991) 'A stakeholder approach to marketing management using the value exchange models', European Journal of Marketing, vol. 25, no. 8, pp. 55-68.
147. Mills, E.D. (1994) Building Maintenance and Preservation: A Guide for Design and Management, 2nd edn, Oxford: Butterworth-Heinemann.
148. Modanoglu, M., Chand, D. and Chu, Y. (2004) 'Creating economic value in the US airline industry: are we missing the flight?' International Journal of Contemporary Hospitality Management, vol. 16, no. 5, pp. 294-298.
149. Morley, A. (2002) 'The economic benefits of infrastructure projects procured with private finance', paper presented at International Congress, Washington, DC, 19-26 April.
150. Nanayakkara, R. (2002) Procurement of Building Services Operation and Maintenance, DTI Contract no. 38/6/189, London: BSRIA, UK.
151. NAO (1998) The Private Finance Initiative: The Four First Design, Build, Finance and Operate Road Contracts, London: The Stationery Office.
152. NAO (1999a) Examining the Value for Money Deals Under the Private Finance Initiative, London: The Stationery Office.
153. NAO (1999b) The PFI Contact for the New Dartford and Gravesham Hospital, London: The Stationery Office.
154. NAO (2001) Managing the Relationship to Secure a Successful Partnership in PFI Projects, London: The Stationery Office.
155. NAO (2002) PFI Refinancing Update, National Audit Office, HC 1288 2001-2002, London: The Stationery Office.
156. NAO (2003a) PFI: Construction Performance, London: The Stationery Office.
157. NAO (2003b) Private Finance Initiative: Redevelopment of MOD Main Building, London: The Stationery Office.
158. NAO (2003c) PFI in Schools, London: The Stationery Office.
159. NAO (2005a) Darent Valley Hospital: The PFI Contract in Action, National Audit Office, HC 2092004-2005, London: The Stationery Office.
160. NAO (2005b) Improving Public Services through Better Construction, National Audit Office, HC 364 2004-2005, London: The Stationery Office.
161. Neap, H.S. and Celik, T. (1999) 'Value of a product: a definition', International Journal of Value-Based Management, vol. 12, pp. 181-191.
162. Newton, S. (1991) An Agenda for Cost Modelling Research, Construction Management and Economics, London: E & N Spon.
163. NHS (1994) Capital Investment Manual, Leeds: NHS Executive.
164. NHS (1995) Private Finance and Capital Investment Projects, HSG(95)15, Leeds: NHS Executive.
165. NHS (1999) Public-Private Partnerships in the National Health Service: The Private Finance Initiative, Leeds: NHS Executive.
166. NHS Estates (1994) Capital Investment Manual, National Health Service Estates, London. http://www.dh.gov.uk/PolicyAndGuidance/OrganisationPolicy/EstatesAndFacilitiesManagement/EstatesAndFacilitiesArticle.
167. NHS Estates (2001a) Estate Code: Essential Guidance on Estates and Facilities Management, London: National Health Service Estates.
168. NHS Estates (2001b) Sustainable Development in the NHS, London: Department of Health.
169. NHS Estates (2002) The Best Client Guide: Good Practice Briefing and Design Manual, London: Department of Health.
170. NHS Estates (2004) The Design Development Protocol for PFI Schemes, Revision 1, London: Department of Health.
171. NHS Executive (2000) The PFI Procurement Process, London: National Health Service Executive.
172. NHS Executive (2002a) Improving PFI Procurement, London: National Health Service Executive.
173. NHS Executive (2002b) Department of Health Standard for Payment Mechanism Schedule 18, London: National Health Service Executive.
174. NHS Executive (2003) Standard Output Specification (Version 2), London: National Health Service Executive.
175. Nijkamp, P. and Ubbels, B. (1999) 'How reliable are estimates of infrastructure costs? A comparative analysis', International Journal of Transport Economics, vol. 26, no. 1, pp. 23-53.
176. Noortwijk, J. and Frangopol, D. (2004) 'Two probabilistic life-cycle maintenance models for deteriorating civil infrastructures', Probabilistic Engineering Mechanics, vol. 19, no. 4, pp. 345-359.
177. Norfolk and Norwich Health Care NHS Trust (2004) Project Agreement, amended version, Norwich.
178. Norfolk and Norwich Hospital (2006) Facilities Management Agreement, hospital website, accessed March 2006.
179. Northcott, D. and Llewellyn, S. (2003) 'The "ladder of success" in healthcare: the UK national reference costing index', Management Accounting Research, vol. 14. pp. 51-66.
180. ODMP (2005) Best Value in Local Authority Procurement: Guidance NotesMinister, the website of the Office of the Deputy Prime, available at: www.odpm.gov.uk.
181. OGC (2001) PFI List of Signed Projects (as at 30th of September 2001), London: Office of Government Commerce.
182. OGC (2002a) Principles of Contract Management: Service Delivery, London: The Stationery Office.
183. OGC (2002b) 'Best practice: risk allocation in long-term contracts', available at: www.ogc.gov.uk/sdtoolkit/reference/ogc_library/,bpbriefings/risk_allocation.pdf.
184. OGC (2002c) Green Public-Private Partnerships, Norwich: Office of the Deputy Prime Minister.
185. OGC (2003a) Achieving Excellence in Construction, Procurement Guide No. 4: Risk and Value Management, London: Office of Government Commerce.
186. OGC (2003b) Whole Life Costing and Cost Management, Procurement Guide no. 7, London: Office of Government Commerce.
187. OGC (2004a) The Gateway Process: Gateway to Success, London: Office of Government Commerce.
188. OGC (2004b) Value for Money Measurement, OGC Business Guidance, London: Office for Government and Commerce.
189. OGC (2004c) The OGC Best Practice Guide: Gateway Reviews, London: The Office for Government and Commerce and HMSO.
190. OGC (2005) Successful Delivery Toolkit™ 2005, Version 5.02.
191. Otley, D. (1999) 'Performance management: a framework for management control systems research', Management Accounting Research, vol. 10, no. 363-382.
192. Palmer, A., Kelly, J. and Male, S. (1996) 'Holistic approach to value engineering in construction in United States', Journal of Construction Engineering and Management, vol. 122, no. 4., pp. 324-328.
193. Patterson, F. and Neailey, K. (2002) 'A risk register database systems to aid the management of project risk', International Journal of Project Management, vol. 20, no. 2, pp. 365-374.
194. Paulin, M., Ferguson, R. and Payaud, M. (2000) 'Effectiveness of rational and transactional cultures in commercial banking: putting client-value into the competing values model', International Journal of Bank Marketing, vol. 18, no. 7, pp. 328-337.
195. Pearce, D. (2003) 'The social and economic value of construction: the construction industry's contribution to sustainable development', www.ncrisp.org.
196. Peppard, B., Lambert, R. and Edwards, C. (2000) 'Whose job is it anyway?: Organizational information competencies for value creation', Information Systems Journal, vol. 10, pp. 291-322.
197. Picken, H. and Mak, S. (2001) 'Risk analysis in cost planning and its effect on efficiency in capital cost budgeting', Logistics Information Management, vol. 14, no. 5/6, pp. 318-327.
198. Pollock, A., Shaoul, A., Rowland, D. and Player, S. (2001) Public Services and the Private Sector, London: Catalyst.
199. Pollock, A., Shaoul, J. and Vickers, N. (2002) 'Private finance and "value for money" in NHS hospitals: a policy in search of a rationale?' British Medical Journal vol. 324, no. 7347, pp. 1205-1209.
200. PricewaterhouseCoopers (2001) Public-Private Partnerships: A Clearer View, London: PricewaterhouseCoopers.
201. PricewaterhouseCoopers (2002) Study into Rates of Return Bid on PFI Projects, London: OGC.
202. PricewaterhouseCoopers (2003) Public-Private Partnerships: UK Expertise for International Markets, London: International Financial Services.
203. Pringle, J. and Cole, J. (2004) 'The exemplar model: lower costs, better outcomes, in public sector procurement and the public interest', in Chevin, D., Public Sector Procurement and the Public Interest, London: The Smith Institute, pp. 89-96.
204. Private Finance Panel Executive (1992) Private Finance: Guidance for Departments, London: HMSO.
205. Private Finance Panel Executive (1995) Private Opportunity, Public Benefit: Progressing the Private Finance Initiative, London: HMSO.
206. Private Finance Panel Executive (1996a) Writing an Output Specification, London: HMSO.
207. Private Finance Panel Executive (1996b) Risks and Rewards in PFI Contracts, London: HMSO.
208. Private Finance Panel Executive (1996c) Transferability of Equity, London: HMSO.
209. Puig-Junoy, J. (2000) 'Partitioning input cost efficiency into its allocative and technical components: an empirical DEA application to hospitals', Socio-Economic Planning Sciences Journal, vol. 34, pp. 199-218.
210. Raftey, J. (1991) Models for Construction Cost and Price Forecasting: Proceedings of the First National Research Conference, London: E & F N Spon.
211. Raftey, J. (1994) Risk Analysis in Project Management, London: E & F N Spon.
212. RAMP (2006) 'Risk analysis and management for projects', available at: http://www.ramprisk.com/riskmanagement, accessed May 2006.
213. RIBA (2005) 'RIBA consultation: introducing smart PFI', available at: www.architecture.com, accessed 30 March 2005.
214. Robinson, P. (2000) 'PFI and the public finances', in Private Finance Initiative: Saviour, Villain or Irrelevance? London: Commission on Public-Private Partnerships.
215. Royal Academy of Engineering (1999) The Long-Term Costs of Owning and Using Buildings, London: The Royal Academy of Engineering.
216. Sandahl, G. and Sjogren, S. (2003) 'Capital budgeting methods among Sweden's largest groups of companies: the state of the art and a comparison with earlier studies', International Journal of Production Economics, vol. 84, pp. 51-69.
217. Sayce, S. and Connellan, O. (2002) 'From existing use to value in use: time for a paradigm shift?', Property Management, vol. 20, no. 4, pp. 228-251.
218. Scheinkestel, N.L. (1997) 'The debt-equity conflict: where does project financing fit?' Journal of Banking and Finance Law and Practice, vol. 8, pp. 103-124.
219. Scherer, W.T. and Glagola, D.M. (1994) 'Markovian models for bridge maintenance management', Journal of Transportation Engineering, American Society of Civil Engineers, vol. 120, no. 1, pp. 37-51.
220. Shaoul, J. (2005) 'A critical financial analysis of the Private Finance Initiative: selecting a financing method or allocating economic wealth?' Critical Perspectives on Accounting, vol. 16, no. 4, pp. 441-471.
221. Shen, Q. and Liu, G. (2003) 'Critical Success Factors for Value Management', Journal of Construction Engineering and Management, vol. 129, no. 5, pp. 485-491.
222. Shillito, M.L. and De Marle, D.J. (1992) Value: Its Measurement, Design, and Management, New York: John Wiley & Sons Inc.
223. Simister, S.J. and Green, S.D. (1997) 'Recurring themes in value management practice', Engineering, Construction and Architectural Management, vol. 4, no. 2, pp. 113-125.
224. Skitmore, M. and Patchell, B. (1990) 'Developments in contract price forecasting and bidding techniques', in P.S. Brandon (ed.) Q.S. Techniques: New Directions, Oxford: BPS Professional Books, pp. 75-120.
225. Smith, J. and Love, P. (2004) 'Auditing construction costs during building design: a case study of cost planning in action', Managerial Auditing Journal, vol. 19, no. 2, pp. 259-271.
226. Snoj, B., Korda, A. and Murnel, D. (2004) 'The relationships among perceived quality, perceived risk and perceived product value', Journal of Product and Brand Management, vol. 13, no. 3, pp. 156-167.
227. Sohail, M., Miles, D. and Cotton, A. (2002) 'Developing monitoring indicators for urban micro contracts in South Asia', International Project Management, vol. 20, no. 7, pp. 583-591.
228. Spackman, M. (2002) 'Public-private partnerships: lessons from the British approach', Economic Systems, vol. 26, pp. 283-301.
229. Stewart, P. (2005) Sustaining the Benefits of Change in Public Sector Procurement and the Public Sector, London: The Smith Institute.
230. Sussex, J. (2001) The Economics of the Private NHS, London: Office of Health Economics.
231. Sussex, J. (2002) Making the Best of the Private Finance Initiative in the NHS, London: Office of Health Economics,
232. Sussex, J. (2003) 'Public-private partnerships in hospital development: lessons from the UK's "Private Finance Initiative" ', Research in Healthcare and Financial Management, vol. 2, no. 1, pp. 59-76.
233. Tanega, J. and Sharma, P. (2000) International Project Finance: A Legal and Financial Guide to Bankable Proposals, London: Butterworths.
234. The Centre for Effective Dispute Resolution (2006) 'Dispute resolution procedure for PFI and long-term contracts', http://www.cedr.co.uk/library/documents/drpforpfi.pdf, accessed May 2006.
235. The Smith Institute (2005) Public Sector Procurement and the Public Interest, ed. D. Chevin, London: The Smith Institute.
236. The State of Victoria (2001) Partnerships Victoria Guidance: Risk Allocation and Contractual Issues Guide. Department of Treasury and Finance, The State of Victoria, Australia.
237. Then, D. (1995) 'Computer building condition survey', Facilities, vol. 13, no. 7, pp. 23-27.
238. Thomson, D., Austin, S., Wright, H. and Mills, G. (2003) 'Managing value and quality in design', Building Research and Information, vol. 31, no. 5, pp. 334-345.
239. Treasury Taskforce (1999a) A Step-by-Step Guide to the PFI Procurement Process, London: HM Treasury.
240. Treasury Taskforce (1999b) News No. 177/999, 29 October.
241. Treasury Taskforce (1999c) How to Appoint and Work with a Preferred Bidder, London: HM Treasury.
242. Treasury Taskforce (1999d) How to Achieve Design Quality in PFI Projects, London: HM Treasury.
243. Treasury Taskforce (1999e) How to Account for PFI Transactions, London: HM Treasury.
244. Treasury Taskforce (2000a) How to Manage the Delivery of Long-Term PFI Contracts, London: HM Treasury.
245. Treharne, T. (2003) 'Financing and PFI', at http://www.majorprojects.org/pubdoc/690.pdf, accessed 2005.
246. Tsai, P. and Molinero, C. (2002) 'A variable returns to scale data envelopment analysis model for the joint determination of efficiencies with an example of the UK health service', European Journal of Operational Research, vol. 141, pp. 21-38.
247. Turner, R. and Keegan, A. (1999) 'The versatile project-based organization: governance and operational control', European Management Journal, vol. 17, no. 3, pp. 296-309.
248. Turner, R. and Keegan, A. (2001) 'Mechanisms of governance in the project-based organization: roles of the broker and steward', European Management Journal, vol. 19, no. 3, pp. 254-267.
249. UNISON (2004) Public Risk for Private Gain? The Public Audit Implications of Risk Transfer and Private Finance, ed. A. Pollock, D. Price and S. Player, London: UNISON.
250. Van Horne, J. (1995) Financial Management and Policy, 10th edn, London: Prentice Hall International, UK.
251. Weller, D.L. (1996) 'Benchmarking: a paradigm for change to quality education', The TQM Magazine, vol. 8, no. 6, pp. 24-29.
252. Williams, G.B. and Hirani, R.S. (1997) 'A delay time multi-level on-condition preventative maintenance inspection model based on constant base interval risk - when inspection detects pending failure', International Journal of Machine Tools Manufacturing, vol. 37, no. 6, pp. 823-836.
253. Williams, T. (1994) 'Using a risk register to integrate risk management in project definition', International Journal of Project Management, vol. 12, no. 1, pp, 17-22.
254. Wirahadikusumah, R., Abraham, D.M. and Castello, J. (1999) 'Markov decision process for sewer rehabilitation', Engineering, Construction and Architectural Management, vol. 6, no. 4, pp. 358-370.
255. Woodruff, R.B. (1997) 'Customer value: the next source for competitive advantage', Journal of the Academy of Marketing Science, vol. 25, no. 2, pp. 139-153.
256. Ye, S. and Tiong, R. (2003) 'Tariff adjustment frameworks for privately financed infrastructure projects', Construction Management and Economics, vol. 21, pp. 409-419.
257. Yescombe, E. (2002) Principles of Project Finance, Oxford: Elsevier.
258. Zaring, O. (1996) 'Capital budgeting for the unexpected', Scandinavian Journal of Management, vol. 12, no. 3, pp. 233-241.