Enhancing value for money in public private partnership projects

Purpose – The purpose of this paper is to study the measures that enhance value for money (VFM) in public private partnership (PPP) projects from the findings achieved in a questionnaire survey. The questionnaire survey was conducted in Hong Kong (also known as the Hong Kong Special Administrative Region) and Australia, and is compared to the results conducted by other researchers in the UK.Design/methodology/approach – Respondents to the questionnaire were asked to rate 18 VFM measures in PPP projects.Findings – The results found that the top five VFM measures ranked by the respondents from Hong Kong included: efficient risk allocation (allocating the risk to the party best able to manage it); output‐based specification; competitive tender; private management skill; and private sector technical innovation. The first and second of these VFM measures were also found to be ranked high by the respondents from Australia and the UK, indicating that these were true for these jurisdictions.Practical implications...

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