This paper looks at the strategic aspects of PFI, but also considers the practical project management issues that are raised by this form of procurement. It is designed to be of use to hard-pressed PFI project managers who are probably in the middle of the most arduous and pressurised procurement process they have experienced in their working lives. The paper should also be of use to prospective project managers, as well as to councillors, board members and chief officers who have ultimate responsibility for the successful conclusion of PFI deals.
This paper is designed for organisations that are currently procuring assets and services under PFI, or who may be contemplating the use of this form of procurement. These are described as 'purchasers' or 'clients' or 'commissioning bodies' in the remainder of this paper. Those providing assets and services are referred to as 'providers' or 'contractors' or, in some cases, 'consortia'.
Included in this management paper:
- Key features of the private finance initiative
- Commitment and leadership
- Specifying long-term service requirements
- PFI and performance management
- Rise and value for money
- Competition and the contracting process
- Sharing experiences, external advice and audit