PFP-7/E
Private Opportunity, Public Benefit
Introduction
Types of PFI projects
Wider policy context of PFI
Benefits of PFI
Box: Generation of additional revenue by sales to third parties
Box: PFI terminology
When to consider PFI
Public sector bodies covered b. this guidance
Other guidance
Development in the 1980s
The new policy: the PFI
The PFI and local authorities
PFI projects
Box: Summary of diversity and totality
Diversity (includes lists of some examples in transport, health, etc)
Totality
Fundamental requirements for a PFI project
Risk transfer
Box: Risks to consider in most PFI projects
Value for money (VFM)
Box: Sources of improved VFM
Chart: PFI projects provide better VFM
Box: VFM some technical points
Public sector comparators
Chart: Public sector comparator and the VFM test
Affordability
Public expenditure treatment of PFI projects
Impact of resource accounting and budgeting
Chapter 4: Practical examples
Project management and procurement process
Statement of service requirements and bid evaluation
The NIRS2 agreement:
Risk transfer and value for money
Key elements of the contract
Project management and procurement process
Specification of requirements and bid evaluation
The DCMF prisons deal:
Risk transfer and value for money
Key elements of the contracts
Project management and procurement process
Specification of requirements and bid evaluation
The Northern Line Trains deal:
Risk transfer
Key elements if the contract
Conclusion
Boxes:
Queen Elizabeth II Bridge
Croydon Tramlink
Royal Berkshire hospital - acute service retionalisation
South Kent Hospital - waste disposal
South Tees - dialysis service
DSS Netcastle Estate
Castle Court, CaeWhilly
English Partnerships
-Written
-Barking Reach
University of Greenwich - residential accommodation
Planning phase
Clarifying objectives
Chart: The PFI project management process
Outline business case
Assembling the project team
Procurement process
Specification of requirements
Chart: Quality/cost trade-off
Bid appraisal and award of contract
Timetable complications
Contract management
Contract length and transfer of assets
Payment structures
Chart: Cost and quality improvements
Contract termination
Supplier default
Supplier insolvency
Public sector default
Public sector change of status
Voluntary termination
Supplier equity and control
Force majeure
Change control and dispute resolution
Indemnities and insurance
Other issues
Annex A: Joint ventures
Annex B: The accounting treatment of PFI projects
Annex C: EC procurement rules
List of abbreviations
Other relevant publications
List of contact