The Termination Of The Pfi Contract For The National Physical Laboratory
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The Termination Of The Pfi Contract For The National Physical Laboratory
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2006-05-10
The Termination Of The Pfi Contract For The National Physical Laboratory written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05-10 with Business & Economics categories.
In 1998, the Department of Trade and Industry (DTI) and Laser, a special purpose company jointly owned by Serco Group plc and John Laing plc, signed a 25-year long Private Finance Initiative (PFI) contract. Laser would build and manage new facilities for the National Physical Laboratory (NPL), comprising 16 linked modules, containing over 400 laboratories, and replacing many existing buildings. The planned cost of the new buildings was approximately £96 million. The DTI would pay Laser a unitary charge, of £11.5 million (1998 prices) a year once the new buildings were ready, the charge increasing annually based on the increase in retail prices. The project suffered considerable construction delays and difficulties in achieving the specification for some parts of the buildings, mainly due to deficient design. In December 2004, it was agreed to terminate the PFI contract. The DTI paid Laser £75 million for its interest in the new buildings. This was the first termination of a major PFI contract involving serious non-performance. This report examines the problems that led to the termination, why these problems arose, how the Department managed them and the value for money consequences of the termination. The report finds that the DTI successfully transferred risk in the PFI contract to the private sector, but that the project risks could have been reduced with firmer control and better communication. Up to and including the termination, the Department's investment in the new facilities was about £122 million (March 2005 prices). In return, the Department secured an asset valued at £85 million and for which all but eight of more than 400 laboratories should be capable of being made to meet its specification in full. The private sector reported a loss of at least £100 million.
The Termination Of The Pfi Contract For The National Physical Laboratory
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Author : Great Britain. Parliament House of Commons. Committee of Public Accounts
language : en
Publisher:
Release Date : 2007-03-13
The Termination Of The Pfi Contract For The National Physical Laboratory written by Great Britain. Parliament House of Commons. Committee of Public Accounts and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-13 with categories.
The National Physical Laboratory (NPL) occupies a disparate collection of buildings on its Teddington site. By the early 1990s many of the buildings could only with difficulty provide the conditions required for the NPL's scientific work. In 1998, the Department of Trade and Industry (the Department) and Laser, a special purpose company jointly owned by Serco Group plc and John Laing plc, signed a 25-year long Private Finance Initiative (PFI) contract, under which Laser would redevelop the NPL facilities. The redevelopment of the NPL involved the replacement of many existing buildings and the construction in 16 linked modules of over 400 laboratories, many of which had to meet exacting environmental requirements. The project suffered considerable construction delays and problems, the most serious of which involved 30 laboratories in which stringent temperature and/or sub-audible noise requirements had to be met. In July 2004, Laser recognised that it did not have the financial capacity to complete the project to the required specification and proposed either revision of its contract or termination. After negotiations, the PFI contract was terminated in December 2004 and the Department paid Laser £75 million for its interest in the new buildings. The termination was the first for a major PFI contract involving serious deficiencies in contractor performance. This report examines the problems that led to termination, and considers lessons that might apply to future PFI projects.
Private Finance Projects And Off Balance Sheet Debt
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Author : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
language : en
Publisher: The Stationery Office
Release Date : 2010-03-17
Private Finance Projects And Off Balance Sheet Debt written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-17 with Business & Economics categories.
A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.
Global Construction Success
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Author : Charles O'Neil
language : en
Publisher: John Wiley & Sons
Release Date : 2019-02-26
Global Construction Success written by Charles O'Neil and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-26 with Technology & Engineering categories.
A guide to effective corporate and project management in the construction industry with a focus on the role that people play in the process Global Construction Success explores the importance that human dynamics play in risk management of construction projects. Every time a project is structured, designed and built, personal behaviours and inputs can either lead to success or be the cause of failure. With contributions from noted experts on the topic, the book offers insight into stakeholders’ reactions in a variety of situations, provides expert analyses of risk management and proposes potential solutions and recommendations in order to ensure effective construction management. The book explores common causes of project failure, outlines the key factors of successful projects, shows how to implement Public Private Partnerships, explores the different stages of structuring projects and reveals what it takes to manage difficult client/contractor relationships. International case studies of major projects clearly illustrate how communications and relationships can lead to helpful solutions to commonly encountered challenges to achieve positive results. Offers a comprehensive review of the impact human dynamics play in the success or failure of construction projects Stresses the importance of the leadership of senior management Offers a chapter on managing and resolving conflicts Shows why the industry needs better risk management Includes new information for managing communications and relationships Explores new areas of technology that are being embraced by the construction industry Written for construction industry senior management in both the corporate and government sectors, project management professionals, consultants and supply chain participants, Global Construction Success includes material for minimizing risk and improving management quality and profitability when working with international construction projects.
Public Sector Auditing
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Author : Sir John Bourn
language : en
Publisher: John Wiley & Sons
Release Date : 2008-07-31
Public Sector Auditing written by Sir John Bourn and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-31 with Business & Economics categories.
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.
Global Auction Of Public Assets
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Author :
language : en
Publisher: Spokesman Books
Release Date :
Global Auction Of Public Assets written by and has been published by Spokesman Books this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Public Private Partnerships And The Law
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Author : Yseult Marique
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-08-30
Public Private Partnerships And The Law written by Yseult Marique and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-30 with Business & Economics categories.
This timely book examines the legal regulation of Public_Private Partnerships (PPPs) and provides a systematic overview of PPPs and their functions. It covers both the contractual relationships between public and private actors and the relationships be
Construction Cost Management
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Author : Keith Potts
language : en
Publisher: Routledge
Release Date : 2014-01-23
Construction Cost Management written by Keith Potts and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-23 with Technology & Engineering categories.
In this updated and expanded second edition, Keith Potts and Nii Ankrah examine key issues in construction cost management across the building and civil engineering sectors, both in the UK and overseas. Best practice from pre-contract to post-contract phases of the project life-cycle are illustrated using major projects such as Heathrow Terminal 5, Crossrail and the London 2012 Olympics as case studies. More worked examples, legal cases, case studies and current research have been introduced to cover every aspect of the cost manager’s role. Whole-life costing, value management, and risk management are also addressed, and self-test questions at the end of each chapter support independent learning. This comprehensive book is essential reading for students on surveying and construction management programmes, as well as built environment practitioners with cost or project management responsibilities.
Partnerships In Urban Property Development
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Author : Nigel Dubben
language : en
Publisher: John Wiley & Sons
Release Date : 2009-06-22
Partnerships In Urban Property Development written by Nigel Dubben and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-22 with Business & Economics categories.
This book covers partnerships in the broadest sense, presenting a critical account of the whole range of partnerships in property development. The emphasis is on the relationship between developers and landowners, developers and funders, and the provision of public services through the use of private finance. The authors draw on their own professional experience of running property partnerships and, with carefully researched case studies, present the 'insider' view, making a potentially dry and complex subject accessible and lively. The book moves beyond a theoretical overview and, by illuminating the reality of property partnerships shows for example, exactly how the government is procuring schools, hospitals and roads. This clear and objective analysis sets property partnerships in their economic and political contexts and will be of topical interest to surveyors and developers - in both private practice and local authorities - as well as to funders. Students in surveying, estate management and real estate development will also find this a concise and authoritative guide. Contents 1 The Public and Private Sectors 2 The Property Development Process 3 Partnership Negotiations using Development Appraisal Techniques 4 The Private Finance Initiative 5 Public Private Partnerships: the Urban Experience of Dublin 6 Property Funding Partnerships 7 Development Partnerships and Landowners 8 International Trends and Public Private Partnerships 9 Economic Background and Future Trends
Using The Contract To Maximise The Likelihood Of Successful Project Outcomes
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2006-06-07
Using The Contract To Maximise The Likelihood Of Successful Project Outcomes written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-07 with Technology & Engineering categories.
This report is one of a series of studies by the NAO which examine key factors involved in improving project performance in defence equipment procurement, with the aim of establishing best practice in relation to a theoretical 'gold standard' developed by assessing and comparing results of overseas and commercial operations. Following on from the first report in the series (HCP 30, session 2005-06, ISBN 0102932611) which identified the contract as a key component of project control, this report sets out recommendations on how the Ministry of Defence and its industry partners can best use the contract to maximise the likelihood of successful project outcomes. (It does not examine methods (competitive or otherwise) the MoD might pursue to select a potential supplier, as the effective use of competition will be the subject of a future report). More information on the evidence underlying the recommendations in this report and the gold standard criteria developed can be found on the website: www.naodefencevfm.org