Mutual Investment Models MIM - Revision history

Designing Buildings at 06:57, 8 November 2024

2024-11-08T06:57:34Z

← Older revision		Revision as of 06:57, 8 November 2024
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	Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.		Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.

−	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that ~~did~~ not promote the public interest whilst maintaining elements of best practice.	+	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that do not promote the public interest whilst maintaining elements of best practice.

	[[File:Welsh_Gov_MIM_report_cover_21-22_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]		[[File:Welsh_Gov_MIM_report_cover_21-22_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]
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	The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022.		The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022.

−	~~Their~~ second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] (see top image) was published ~~by the Welsh Government~~ in May ~~29024~~, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales.	+	The second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] (see top image) was published in May 2024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales.

	= Mutual Investment Models as enhancements =		= Mutual Investment Models as enhancements =

Editor: moved Mutual Investment Model MIM to Mutual Investment Models MIM

2024-11-07T07:50:55Z

moved Mutual Investment Model MIM to Mutual Investment Models MIM

← Older revision

Revision as of 07:50, 7 November 2024

Editor at 07:50, 7 November 2024

2024-11-07T07:50:18Z

← Older revision		Revision as of 07:50, 7 November 2024
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	[[File:Welsh_Gov_MIM_report_cover_22-24_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-july-2022-to-march-2024]]		[[File:Welsh_Gov_MIM_report_cover_22-24_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-july-2022-to-march-2024]]
		+
		+	= Background to Mutual Investment Models in Wales =

	Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.		Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.
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	[[File:Welsh_Gov_MIM_report_cover_21-22_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]		[[File:Welsh_Gov_MIM_report_cover_21-22_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]

−	The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022. Their second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] was published by the Welsh Government in May 29024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales. The key elements of PPP/PFI which have been enhanced in the MIM are outlined and described in these reports as such:	+	The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022.

−	~~optimum risk allocation, whole~~-~~life costing, and performance~~-~~based payments – while ensuring that new~~ investment ~~is classified~~ to the ~~private sector~~	+	Their second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] (see top image) was published by the Welsh Government in May 29024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales.

−	* "private partners being obliged to help deliver the objectives of the Well-being of Future Generations (Wales) Act 2015 – including a focus on long-term sustainability and environmental efficiency	+	= Mutual Investment Models as enhancements =
		+
		+	The key elements of PPP/PFI which have been enhanced in the MIM are outlined and described in the above reports as:
		+
		+	* "optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector
		+	* private partners being obliged to help deliver the objectives of the Well-being of Future Generations (Wales) Act 2015 – including a focus on long-term sustainability and environmental efficiency
	* financial and contractual remedies for non-delivery of stretching community benefits		* financial and contractual remedies for non-delivery of stretching community benefits
	* a mandatory commitment to the Welsh Government’s ethical employment code		* a mandatory commitment to the Welsh Government’s ethical employment code
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	* the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings		* the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings
	* a commitment to transparency, of which this Report forms a part."		* a commitment to transparency, of which this Report forms a part."
		+
		+	= MIM project delivery that promotes public interest =
		+
		+	The Welsh Government describe two methods of delivery for MIM portfolio projects:
		+
		+	* Direct delivery: Where a single special purpose vehicle (SPV) is formed to deliver a specific project under a public private partnership ‘design, build, finance, maintenance and lifecycle’ contract known as the Project Agreement. This is suitable where the public sector is looking to procure a single high value asset.
		+	* Strategic Partnership: An appointed single strategic partner delivers several assets for a range of authorities. The SPV delivers partnering services to the authorities. The strategic partner supports the delivery of a pipeline of MIM projects, and each authority enters into a project agreement for the delivery of its asset.
		+
		+	The public interest benefits described by the Welsh Government in the report include:
		+
		+	* Community Benefits: Private partners support contract authorities to achieve Wellbeing of Future Generations Act goals: job creation, training, apprenticeships, school engagement, and community initiatives. Promote supply chain support for SMEs and social enterprises, where non-compliance may result in financial penalties.
		+	* Ethical Employment: Partners adhere to the Welsh Government’s Code on Ethical Employment, promoting fair work and sustainability within projects.
		+	* Improving Value for Money: The MIM model optimises value by excluding capital equipment and facility management services from projects, allowing direct public funding for these.
		+	* Public Sector Nominated Director: A public sector-nominated director on the SPV board ensures public interests in decision-making.
		+
		+	For further information about current Welsh Government MIM projects se [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024]

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =
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	* Public procurement.		* Public procurement.

−	[[Category:~~Articles_needing_more_work~~]]	+	[[Category:DCN_Commentary]] [[Category:DCN_Definition]] [[Category:DCN_Organisation]] [[Category:DCN_Policy]] [[Category:Definitions]] [[Category:Organisations]] [[Category:Projects_and_case_studies]] [[Category:Policy]] [[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Public_procedures]]

Editor at 07:30, 7 November 2024

2024-11-07T07:30:37Z

← Older revision		Revision as of 07:30, 7 November 2024
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−	[[File:~~Welsh Gov MIM report cover 22~~-~~24 1000~~.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-july-2022-to-march-2024]]	+	[[File:Welsh_Gov_MIM_report_cover_22-24_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-july-2022-to-march-2024]]

	Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.		Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.
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	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that did not promote the public interest whilst maintaining elements of best practice.		MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that did not promote the public interest whilst maintaining elements of best practice.

−	[[File:~~Welsh Gov MIM report cover 21~~-~~22 1000~~.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]	+	[[File:Welsh_Gov_MIM_report_cover_21-22_1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]

	The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022. Their second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] was published by the Welsh Government in May 29024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales. The key elements of PPP/PFI which have been enhanced in the MIM are outlined and described in these reports as such:		The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022. Their second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] was published by the Welsh Government in May 29024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales. The key elements of PPP/PFI which have been enhanced in the MIM are outlined and described in these reports as such:
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	* the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings		* the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings
	* a commitment to transparency, of which this Report forms a part."		* a commitment to transparency, of which this Report forms a part."
		+
		+	= Related articles on Designing Buildings =
		+
		+	* Availability payments.
		+	* Build lease transfer BLT.
		+	* Build operate transfer BOT.
		+	* Build, own, operate and transfer (BOOT).
		+	* Concession agreement.
		+	* Crown build.
		+	* Design, build, finance, maintain DBFM.
		+	* Design Build Finance Operate Maintain DBFOM.
		+	* Design build finance transfer (DBFT).
		+	* Design build operate (DBO).
		+	* Design build operate transfer DBOT.
		+	* Design construct manage finance DCMF.
		+	* Flexibility in PPP Contracts: Best practices from countries where Abertis operates.
		+	* Government Construction Strategy.
		+	* Major Projects Authority.
		+	* Midland Expressway Ltd v Carillion Construction Ltd & Others.
		+	* PF2 (successor to PFI).
		+	* Partnership.
		+	* PPP unit.
		+	* Pre-Contract Services Agreement.
		+	* Private developer scheme.
		+	* Private Finance Initiative.
		+	* Private sector.
		+	* Procurement route.
		+	* Public private partnerships PPP.
		+	* Public procurement.

	[[Category:Articles_needing_more_work]]		[[Category:Articles_needing_more_work]]

Editor at 06:38, 7 November 2024

2024-11-07T06:38:01Z

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		+	[[File:Welsh Gov MIM report cover 22-24 1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-july-2022-to-march-2024]]
		+
	Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.		Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.

−	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that did not promote the public interest whilst maintaining elements of best practice. In their [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] the Welsh Government highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use. The key elements of PPP/PFI have been enhanced in the MIM are outlined as such:	+	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that did not promote the public interest whilst maintaining elements of best practice.
		+
		+	[[File:Welsh Gov MIM report cover 21-22 1000.jpg\|link=https://www.gov.wales/annual-mutual-investment-model-report-june-2021-to-june-2022]]
		+
		+	The [https://www.gov.wales/sites/default/files/publications/2022-07/annual-mutual-investment-model-report-june-2021-to-june-2022.pdf first MIM report] was published by the Welsh Government in July 2022 and described their activities over the period June 2021 to June 2022. Their second [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] was published by the Welsh Government in May 29024, both reports highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use in current projects in Wales. The key elements of PPP/PFI which have been enhanced in the MIM are outlined and described in these reports as such:

	optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector		optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector

Editor at 06:18, 7 November 2024

2024-11-07T06:18:48Z

← Older revision		Revision as of 06:18, 7 November 2024
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	optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector		optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector

−	• private partners being obliged to help deliver the objectives of the Well-being of Future Generations (Wales) Act 2015 – including a focus on long-term sustainability and environmental efficiency	+	* "private partners being obliged to help deliver the objectives of the Well-being of Future Generations (Wales) Act 2015 – including a focus on long-term sustainability and environmental efficiency
−		+	* financial and contractual remedies for non-delivery of stretching community benefits
−	• financial and contractual remedies for non-delivery of stretching community benefits	+	* a mandatory commitment to the Welsh Government’s ethical employment code
−		+	* value for money as a core objective
−	• a mandatory commitment to the Welsh Government’s ethical employment code	+	* excluding provision for soft services (e.g. cleaning and catering) and capital equipment (e.g. specialist equipment for medical facilities), which led to expensive and inflexible contracts in the traditional PPP/ PFI model
−		+	* the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings
−	• value for money as a core objective	+	* a commitment to transparency, of which this Report forms a part."
−		+
−	• excluding provision for soft services (e.g. cleaning and catering) and capital equipment (e.g. specialist equipment for medical facilities), which led to expensive and inflexible contracts in the traditional PPP/ PFI model	+
−		+
−	• the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings	+
−		+
−	• a commitment to transparency, of which this Report forms a part.	+

	[[Category:Articles_needing_more_work]]		[[Category:Articles_needing_more_work]]

Editor at 06:13, 7 November 2024

2024-11-07T06:13:16Z

← Older revision		Revision as of 06:13, 7 November 2024
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−	VV	+	Mutual Investment Models (MIM) were designed by the Welsh Government, and initially launched in 2017 as a mechanism to finance major capital projects where there is a scarcity of capital funding. They may be considered in a category of public / private investment models along with Public Private Partnerships (PPP) and Private Finance Initiatives (PFI), but have elements that differ.
		+
		+	MIM aims to improve public services by financing major public projects and supporting additional investment in social and economic infrastructure, it differs from traditional PPP/PFI by removing elements that did not promote the public interest whilst maintaining elements of best practice. In their [https://www.gov.wales/sites/default/files/publications/2024-05/annual-mutual-investment-model-report-july-2022-to-march-2024.pdf Mutual Investment Model Report 2022-2024] the Welsh Government highlight a number of different characteristics of Mutual Investment Models (MIM) along with examples of use. The key elements of PPP/PFI have been enhanced in the MIM are outlined as such:
		+
		+	optimum risk allocation, whole-life costing, and performance-based payments – while ensuring that new investment is classified to the private sector
		+
		+	• private partners being obliged to help deliver the objectives of the Well-being of Future Generations (Wales) Act 2015 – including a focus on long-term sustainability and environmental efficiency
		+
		+	• financial and contractual remedies for non-delivery of stretching community benefits
		+
		+	• a mandatory commitment to the Welsh Government’s ethical employment code
		+
		+	• value for money as a core objective
		+
		+	• excluding provision for soft services (e.g. cleaning and catering) and capital equipment (e.g. specialist equipment for medical facilities), which led to expensive and inflexible contracts in the traditional PPP/ PFI model
		+
		+	• the public sector investing a small amount of risk capital in each scheme, ensuring a participation in any return on investment; and the appointment of a public sector nominated director to manage the public shareholdings
		+
		+	• a commitment to transparency, of which this Report forms a part.

	[[Category:Articles_needing_more_work]]		[[Category:Articles_needing_more_work]]

Editor: moved Mutual Investment Model to Mutual Investment Model MIM

2024-11-07T05:57:46Z

moved Mutual Investment Model to Mutual Investment Model MIM

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Revision as of 05:57, 7 November 2024

Editor: moved Mutual Investment ModeL to Mutual Investment Model

2024-11-07T05:57:32Z

moved Mutual Investment ModeL to Mutual Investment Model

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Revision as of 05:57, 7 November 2024

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