{"product_id":"policy-management-and-finance-of-public-private-partnerships-isbn-9781405177917","title":"Policy, Management and Finance of Public-Private Partnerships","description":"\u003cb\u003ePolicy, Management and Finance of Public-Private Partnerships\u003c\/b\u003e \u003cp\u003e\u003cb\u003eInnovation in the Built Environment\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eThis book examines some of the key policy, financial and managerial aspects of public-private partnerships within the context of the global spread of this form of procurement. \u003c\/p\u003e\u003cp\u003e The chapters investigate political and institutional issues surrounding PPPs, together with the financial and managerial strategies employed by the private sector. Adopting a cross-disciplinary perspective, the book highlights the often politically sensitive nature of these projects and identifies a need for the private sector to investigate a broad set of parameters which relate to the particular political economy of individual partnerships. \u003c\/p\u003e\u003cp\u003e\u003ci\u003ePolicy, Finance \u0026amp; Management for Public-Private Partnerships\u003c\/i\u003e covers a range of specific issues, including: partnerships in developing countries; innovation in partnership-based procurement; government and business interaction; institutional and organisational approaches to facilitating partnership; project and corporate financing; risk and value management; market analysis, modelling and forecasting; capital structure decisions and management; investment theory and practice; pricing and cost evaluation; statutory regulations and their financial implications; option pricing; financial monitoring; syndicate funding; new roles for the financial and insurance sectors; institutional and multilateral funding; payment mechanisms; concession period determination; risk analysis and management; whole life value methodology; cost comparators and best value; team building, team work and skill development. \u003c\/p\u003e\u003cp\u003e Contributions from Australia, Europe, the Far East, South Africa and the United States together present the current thinking and state-of–the-art approaches to public-private partnerships. \u003c\/p\u003e\u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003eContributors xiii\u003c\/p\u003e \u003cp\u003eAcknowledgements xxiii\u003c\/p\u003e \u003cp\u003eIntroduction xxv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One PPP Policy 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Private Finance Initiative in Use 3\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eEzekiel Chinyio and Rod Gameson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction 3\u003c\/p\u003e \u003cp\u003e1.2 The Private Finance Initiative 4\u003c\/p\u003e \u003cp\u003e1.3 UK Government’s Influence on the Use of PFI 5\u003c\/p\u003e \u003cp\u003e1.4 Private Sector Tasks in PFI 6\u003c\/p\u003e \u003cp\u003e1.5 Establishing PFI Contracts 6\u003c\/p\u003e \u003cp\u003e1.6 Forms of Finance Used in PFI 8\u003c\/p\u003e \u003cp\u003e1.7 Performance of PFI Schemes – A Theoretical Perspective 10\u003c\/p\u003e \u003cp\u003e1.8 Improving the Performance of PFI 14\u003c\/p\u003e \u003cp\u003e1.9 Performance of PFI Schemes – An Empirical Review 14\u003c\/p\u003e \u003cp\u003e1.10 A Generic Overview of PFI Schemes 19\u003c\/p\u003e \u003cp\u003e1.11 Comparative Studies 20\u003c\/p\u003e \u003cp\u003e1.12 Conclusion 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Using the Private Sector to Finance Capital Expenditure: The Financial Realities 27\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJean Shaoul\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e2.1 Introduction 27\u003c\/p\u003e \u003cp\u003e2.2 The Control of PFI 30\u003c\/p\u003e \u003cp\u003e2.3 Post-implementation Evaluation of PFI 34\u003c\/p\u003e \u003cp\u003e2.4 Conclusion 42\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Obstacles to Accountability in PFI Projects 47\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDarinka Asenova and Matthias Beck\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e3.1 Introduction 47\u003c\/p\u003e \u003cp\u003e3.2 Finance Capital and Institutional Decision Making 51\u003c\/p\u003e \u003cp\u003e3.3 Conclusion 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Refinancingand Profitability of UK PFI Projects 64\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eSteven Toms, Darinka Asenova and Matthias Beck\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e4.1 Introduction 64\u003c\/p\u003e \u003cp\u003e4.2 PFI Finance and Value for Money 65\u003c\/p\u003e \u003cp\u003e4.3 Mechanisms and Policies of Refinancing 69\u003c\/p\u003e \u003cp\u003e4.4 PFI Profits and Refinancing 72\u003c\/p\u003e \u003cp\u003e4.5 Conclusion 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Dedicated PPP Unit of the South African National Treasury 82\u003cbr\u003e\u003c\/b\u003e\u003ci\u003ePhilippe Burger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction 82\u003c\/p\u003e \u003cp\u003e5.2 The Rationale for PPPs 83\u003c\/p\u003e \u003cp\u003e5.3 The Rationale for a Dedicated PPP Unit 84\u003c\/p\u003e \u003cp\u003e5.4 A Brief History of PPPs and the PPP Unit in South Africa 86\u003c\/p\u003e \u003cp\u003e5.5 The Role of the South African Dedicated PPP Unit 90\u003c\/p\u003e \u003cp\u003e5.6 Future Challenges 93\u003c\/p\u003e \u003cp\u003e5.7 Conclusion 95\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 PPP in Greenfield Airport Development: A Case Study of Cochin International Airport Limited 97\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eThillai A. Rajan, Sheetal Sharad and Sidharth Sinha\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e6.1 Introduction 97\u003c\/p\u003e \u003cp\u003e6.2 Private Participation in New Airport Development 99\u003c\/p\u003e \u003cp\u003e6.3 Indian Aviation Sector 103\u003c\/p\u003e \u003cp\u003e6.4 The Cochin International Airport Project 105\u003c\/p\u003e \u003cp\u003e6.5 Performance of CIAL 112\u003c\/p\u003e \u003cp\u003e6.6 Summary and Lessons 117\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 PPPs for Physical Infrastructure in DevelopingCountries 123\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eAkintola Akintoye\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e7.1 Introduction 123\u003c\/p\u003e \u003cp\u003e7.2 An Overview of Public-Private Partnerships 124\u003c\/p\u003e \u003cp\u003e7.3 PPP: Developed Economies 125\u003c\/p\u003e \u003cp\u003e7.4 PPP: Developing Economies 127\u003c\/p\u003e \u003cp\u003e7.5 PPP: Analysis of Private Sector Participation 129\u003c\/p\u003e \u003cp\u003e7.6 Discussion 138\u003c\/p\u003e \u003cp\u003e7.7 Conclusions 141\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Team Buildingfor PPPs 145\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMohan M. Kumaraswamy, Florence Y.Y. Ling and Aaron M. Anvuur\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e8.1 Introduction 145\u003c\/p\u003e \u003cp\u003e8.2 Integrating and Sustaining PPP Teams 147\u003c\/p\u003e \u003cp\u003eBLBK049-Akintoye July 30, 2008 13:38 8.3 Hong Kong Perspectives of PPP Teams 149\u003c\/p\u003e \u003cp\u003e8.4 Singapore Perspectives of PPP Teams 153\u003c\/p\u003e \u003cp\u003e8.5 Integrating PPP Project Teams 156\u003c\/p\u003e \u003cp\u003e8.6 Selecting Project Consortium Teams 156\u003c\/p\u003e \u003cp\u003e8.7 Concluding Observations 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two PPP Finance 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 PPP Infrastructure Investments: Critical Aspects and Prospects 165\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDemos C. Angelides and Yiannis Xenidis\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e9.1 Introduction 165\u003c\/p\u003e \u003cp\u003e9.2 Critical Issues in Financing PPP Projects 167\u003c\/p\u003e \u003cp\u003e9.3 Prospects for PPP Infrastructure Development 171\u003c\/p\u003e \u003cp\u003e9.4 Conclusion 178\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Patterns of Financing PPP Projects 181\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eSudong Ye\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e10.1 Introduction 181\u003c\/p\u003e \u003cp\u003e10.2 General Patterns of Financing PPP Projects 186\u003c\/p\u003e \u003cp\u003e10.3 Choice of Financing Patterns 195\u003c\/p\u003e \u003cp\u003e10.4 Summary 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 PPP Financingin the USA 198\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eArthur L. Smith\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e11.1 Introduction 198\u003c\/p\u003e \u003cp\u003e11.2 PPP Financing Models in the US 200\u003c\/p\u003e \u003cp\u003e11.3 Case Studies 206\u003c\/p\u003e \u003cp\u003e11.4 Conclusions 210\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Financial Modelling of PPP Projects 212\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eAmmar Kaka and Faisal Alsharif\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e12.1 Introduction 212\u003c\/p\u003e \u003cp\u003e12.2 Research in PPP Financial Modelling 213\u003c\/p\u003e \u003cp\u003e12.3 Cost Models 214\u003c\/p\u003e \u003cp\u003e12.4 Occupancy Cost 215\u003c\/p\u003e \u003cp\u003e12.5 Cash Flow Models 217\u003c\/p\u003e \u003cp\u003e12.6 PFI Financial Modelling in Practice 217\u003c\/p\u003e \u003cp\u003e12.7 An Example of a PFI Financial Model for Schools 224\u003c\/p\u003e \u003cp\u003e12.8 Conclusion 226\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Application of Real Options in PPP Infrastructure Projects: Opportunities and Challenges 229\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eCharles Y.J. Cheah and Michael J. Garvin\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e13.1 Introduction 229\u003c\/p\u003e \u003cp\u003e13.2 Infrastructure Project Flexibility as Real Options 231\u003c\/p\u003e \u003cp\u003e13.3 Real Options Literature Related to Architecture, Engineering, Construction and Infrastructure Projects 234\u003c\/p\u003e \u003cp\u003e13.4 Modelling Issues and Concerns 237\u003c\/p\u003e \u003cp\u003e13.5 An Integrated Real Options–Risk Management Process for PPP Infrastructure Projects 244\u003c\/p\u003e \u003cp\u003e13.6 Summary 245\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Financial Implications of Power Purchase Agreement Clauses in Revenue Stream of Independent Power Producers in Nepal 250\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRaju B. Shrestha and Stephen Ogunlana\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e14.1 Introduction 250\u003c\/p\u003e \u003cp\u003e14.2 Financial Analysis 252\u003c\/p\u003e \u003cp\u003e14.3 Analyses of Clauses 255\u003c\/p\u003e \u003cp\u003e14.4 Summary 263\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Government Policy on PPP Financial Issues: Bid Compensation and Financial Renegotiation 267\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eS. Ping Ho\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e15.1 Introduction 267\u003c\/p\u003e \u003cp\u003e15.2 Game Theory 268\u003c\/p\u003e \u003cp\u003e15.3 Is Bid Compensation Effective in PPP Tendering? 271\u003c\/p\u003e \u003cp\u003e15.4 Financial Renegotiation and its Associated Problems 280\u003c\/p\u003e \u003cp\u003e15.5 Financial Renegotiation Game and its Equilibrium 281\u003c\/p\u003e \u003cp\u003e15.6 Propositions and Rules 289\u003c\/p\u003e \u003cp\u003e15.7 Governing Principles and Policy Implications for Project Procurement and Management 292\u003c\/p\u003e \u003cp\u003e15.8 Conclusion 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three PPP Management 301\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Innovation in PPP 303\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDavid Eaton and Rıfat Akbiyikli\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e16.1 Introduction 303\u003c\/p\u003e \u003cp\u003e16.2 Innovation and Competitive Advantage in PPP 304\u003c\/p\u003e \u003cp\u003e16.3 Stimulants and Impediments to Innovation in PFI\/PPP Projects 314\u003c\/p\u003e \u003cp\u003e16.4 Innovation and Financial Issues in PFI\/PPP Projects 319\u003c\/p\u003e \u003cp\u003e16.5 Conclusion 324\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Combining Finance and Design Innovation to Develop Winning Proposals 327\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eColin F. Duffield and Chris J. Clifton\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e17.1 Introduction 327\u003c\/p\u003e \u003cp\u003e17.2 The Drivers of PFI\/PPP Projects in Different Jurisdictions 327\u003c\/p\u003e \u003cp\u003e17.3 Design Innovation: The Issues 329\u003c\/p\u003e \u003cp\u003e17.4 Financing Arrangements for PFI\/PPP Projects 333\u003c\/p\u003e \u003cp\u003e17.5 The Theory and Practice of Winning Proposals 342\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 The Application of a Whole-Life Value Methodology to PPP\/PFI Projects 346\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJohn Kelly\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e18.1 Introduction 346\u003c\/p\u003e \u003cp\u003e18.2 Projects 346\u003c\/p\u003e \u003cp\u003e18.3 Client Value System 349\u003c\/p\u003e \u003cp\u003e18.4 Whole-Life Costing 351\u003c\/p\u003e \u003cp\u003e18.5 The Application of Whole-Life Value to the PPP\/PFI Process 356\u003c\/p\u003e \u003cp\u003e18.6 Discussion 360\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Best Value Procurement in Build Operate Transfer Projects: The Turkish Experience 363\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eIrem Dikmen, M. Talat Birgonul and Guzide Atasoy\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e19.1 Introduction 363\u003c\/p\u003e \u003cp\u003e19.2 Bid Evaluation in BOT Projects 365\u003c\/p\u003e \u003cp\u003e19.3 Case Studies 367\u003c\/p\u003e \u003cp\u003e19.4 Best Value Procurement in BOT Projects 370\u003c\/p\u003e \u003cp\u003e19.5 An Application of the Proposed Methodology 372\u003c\/p\u003e \u003cp\u003e19.6 Concluding Remarks 376\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Application of Risk Analysis in Privately Financed Projects: The Value For Money Assessment through the Public Sector Comparator and Private Finance Alternative 379\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eTony Merna and Douglas Lamb\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e20.1 Introduction 379\u003c\/p\u003e \u003cp\u003e20.2 The PSC and the PFA 381\u003c\/p\u003e \u003cp\u003e20.3 Conclusion 395\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Developing a Framework for Procurement Options Analysis 398\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDarrin Grimsey and Mervyn K. Lewis\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e21.1 Introduction 398\u003c\/p\u003e \u003cp\u003e21.2 What do PPPs Bring to Procurement? 398\u003c\/p\u003e \u003cp\u003e21.3 Developing a Methodology 399\u003c\/p\u003e \u003cp\u003e21.4 Conclusion 412\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 The Payment Mechanism in Operational PFI Projects 414\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJon Scott and Herbert Robinson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e22.1 Introduction 414\u003c\/p\u003e \u003cp\u003e22.2 The Key Principles 414\u003c\/p\u003e \u003cp\u003e22.3 Value for Money Arguments 415\u003c\/p\u003e \u003cp\u003e22.4 Key Components of the Payment Mechanism 416\u003c\/p\u003e \u003cp\u003e22.5 The Output Specification 419\u003c\/p\u003e \u003cp\u003e22.6 Performance Measurement System 421\u003c\/p\u003e \u003cp\u003e22.7 Case Studies 424\u003c\/p\u003e \u003cp\u003e22.8 Analysis and Discussion of Findings 429\u003c\/p\u003e \u003cp\u003e22.9 Concluding Remarks 433\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 Concession Period Determination for PPP Infrastructure Projects in HongKong 436\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eXueqing Zhang\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e23.1 Introduction 436\u003c\/p\u003e \u003cp\u003e23.2 PPP Projects in Hong Kong 437\u003c\/p\u003e \u003cp\u003e23.3 Build, Operate, Transfer Scheme 440\u003c\/p\u003e \u003cp\u003e23.4 Concession Period 441\u003c\/p\u003e \u003cp\u003e23.5 Concession Period Determination Methods 443\u003c\/p\u003e \u003cp\u003e23.6 Simulation-Based Concession Period Determination Methodology 444\u003c\/p\u003e \u003cp\u003e23.7 Simulation-Based Concession Period Determination Framework 446\u003c\/p\u003e \u003cp\u003e23.8 Conclusions 454\u003c\/p\u003e \u003cp\u003eIndex 457\u003c\/p\u003e \"The editors draw upon a considerable amount of contributions from affiliated academic and practical experts with experience across a vast geographical spread.... Readers will find it invaluable in expanding their academic and practical knowledge of the subject.\" (\u003ci\u003eBuilding Engineer\u003c\/i\u003e, March 2009) \u003cp\u003e\u003cb\u003eAkintola Akintoye,\u003c\/b\u003e Professor of Construction Economics and Management and Head of School, School of Built and Natural Environment, University of Central Lancashire, Preston, UK\u003c\/p\u003e \u003cp\u003e\u003cb\u003eMatthias Beck,\u003c\/b\u003e Professor of Public Sector Management, The York Management School, University of York, UK  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eInnovation in the Built Environment\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThis book examines some of the key policy, financial and managerial aspects of public-private partnerships within the context of the global spread of this form of procurement. \u003c\/p\u003e\u003cp\u003e The chapters investigate political and institutional issues surrounding PPPs, together with the financial and managerial strategies employed by the private sector. Adopting a cross-disciplinary perspective, the book highlights the often politically sensitive nature of these projects and identifies a need for the private sector to investigate a broad set of parameters which relate to the particular political economy of individual partnerships. \u003c\/p\u003e\u003cp\u003e\u003ci\u003ePolicy, Finance \u0026amp; Management for Public-Private Partnerships\u003c\/i\u003e covers a range of specific issues, including: partnerships in developing countries; innovation in partnership-based procurement; government and business interaction; institutional and organisational approaches to facilitating partnership; project and corporate financing; risk and value management; market analysis, modelling and forecasting; capital structure decisions and management; investment theory and practice; pricing and cost evaluation; statutory regulations and their financial implications; option pricing; financial monitoring; syndicate funding; new roles for the financial and insurance sectors; institutional and multilateral funding; payment mechanisms; concession period determination; risk analysis and management; whole life value methodology; cost comparators and best value; team building, team work and skill development. \u003c\/p\u003e\u003cp\u003e Contributions from Australia, Europe, the Far East, South Africa and the United States together present the current thinking and state-of–the-art approaches to public-private partnerships.\u003c\/p\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47989804007653,"sku":"NP9781405177917","price":149.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781405177917.jpg?v=1761785530","url":"https:\/\/k12savings.com\/es\/products\/policy-management-and-finance-of-public-private-partnerships-isbn-9781405177917","provider":"K12savings","version":"1.0","type":"link"}