Private finance initiative - Revision history

Editor at 19:26, 4 January 2021

2021-01-04T19:26:14Z

← Older revision		Revision as of 19:26, 4 January 2021
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	* Design build finance transfer (DBFT).		* Design build finance transfer (DBFT).
	* Design build operate (DBO).		* Design build operate (DBO).
		+	* Design construct manage finance DCMF.
	* Government Construction Strategy.		* Government Construction Strategy.
	* House of Commons, Treasury - Seventeenth Report: Private Finance Initiative.		* House of Commons, Treasury - Seventeenth Report: Private Finance Initiative.

Editor at 20:37, 30 December 2020

2020-12-30T20:37:03Z

← Older revision		Revision as of 20:37, 30 December 2020
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	* Public procurement.		* Public procurement.
	* Public project definition.		* Public project definition.
		+	* Shadow tolls.
	* Speculative construction.		* Speculative construction.
	* Types of development.		* Types of development.

Editor at 17:04, 30 December 2020

2020-12-30T17:04:16Z

← Older revision		Revision as of 17:04, 30 December 2020
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	In 1992 Chancellor of the Exchequer Norman Lamont made an announcement relating to "ways to increase the scope for private financing of capital projects", this became the Private Finance Initiative (PFI).		In 1992 Chancellor of the Exchequer Norman Lamont made an announcement relating to "ways to increase the scope for private financing of capital projects", this became the Private Finance Initiative (PFI).

−	Private Finance Initiatives are a form of Public Private Partnerships (PPP), one of the procurement routes preferred by the Government Construction Strategy for central civil government projects. Traditional procurement routes that separate design from construction are not preferred ~~used~~ unless it can be demonstrated they offer better value for money.	+	Private Finance Initiatives are a form of Public Private Partnerships (PPP), one of the procurement routes preferred by the Government Construction Strategy for central civil government projects. Traditional procurement routes that separate design from construction are not preferred unless it can be demonstrated they offer better value for money.

	On PFI projects, a single integrated supply team is appointed with design, construction and facilities management expertise to design and build a development and then to operate it for a period of time. A special purpose vehicle (SPV), of which the integrated supply team is a part, finances the project and leases it to the government for an agreed period (perhaps 30 years) after which the development reverts to government ownership.		On PFI projects, a single integrated supply team is appointed with design, construction and facilities management expertise to design and build a development and then to operate it for a period of time. A special purpose vehicle (SPV), of which the integrated supply team is a part, finances the project and leases it to the government for an agreed period (perhaps 30 years) after which the development reverts to government ownership.

Editor at 17:57, 17 December 2020

2020-12-17T17:57:04Z

← Older revision		Revision as of 17:57, 17 December 2020
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	* Crown build.		* Crown build.
	* Design, build, finance, maintain DBFM.		* Design, build, finance, maintain DBFM.
		+	* Design Build Finance Operate Maintain DBFOM.
	* Design build finance transfer (DBFT).		* Design build finance transfer (DBFT).
	* Design build operate (DBO).		* Design build operate (DBO).

Editor at 18:37, 15 December 2020

2020-12-15T18:37:52Z

← Older revision		Revision as of 18:37, 15 December 2020
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	* Concession agreement.		* Concession agreement.
	* Crown build.		* Crown build.
		+	* Design, build, finance, maintain DBFM.
	* Design build finance transfer (DBFT).		* Design build finance transfer (DBFT).
	* Design build operate (DBO).		* Design build operate (DBO).

Designing Buildings at 07:58, 3 September 2020

2020-09-03T07:58:40Z

← Older revision		Revision as of 07:58, 3 September 2020
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	* [https://www.gov.uk/government/publications/private-finance-initiative-projects-2013-summary-data Details of PFI schools, hospitals and other public infrastructure projects] as at 31 March 2013.		* [https://www.gov.uk/government/publications/private-finance-initiative-projects-2013-summary-data Details of PFI schools, hospitals and other public infrastructure projects] as at 31 March 2013.

−	[[Category:~~Articles_needing_more_work~~]] [[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]] [[Category:Public_procedures]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Policy]] [[Category:Cost_/_business_planning]] [[Category:Procurement]] [[Category:Property_development]] [[Category:Public_procedures]]

Designing Buildings at 09:37, 4 August 2020

2020-08-04T09:37:39Z

← Older revision		Revision as of 09:37, 4 August 2020
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	* Build, own, operate and transfer (BOOT).		* Build, own, operate and transfer (BOOT).
−	* Complex project.
	* Concession.		* Concession.
	* Concession agreement.		* Concession agreement.
−	* Construction contract.
	* Crown build.		* Crown build.
	* Design build finance transfer (DBFT).		* Design build finance transfer (DBFT).
	* Design build operate (DBO).		* Design build operate (DBO).
−	* Design management.
−	* Equivalent project relief provisions.
	* Government Construction Strategy.		* Government Construction Strategy.
	* House of Commons, Treasury - Seventeenth Report: Private Finance Initiative.		* House of Commons, Treasury - Seventeenth Report: Private Finance Initiative.
	* Independent Client Advisers.		* Independent Client Advisers.
	* Integrated Supply Team.		* Integrated Supply Team.
−	* Managing the procurement process.
	* Major Projects Authority.		* Major Projects Authority.
	* [[Midland_Expressway_Ltd_v_Carillion_Construction_Ltd_%26_Others\|Midland Expressway Ltd v Carillion Construction Ltd & Others.]]		* [[Midland_Expressway_Ltd_v_Carillion_Construction_Ltd_%26_Others\|Midland Expressway Ltd v Carillion Construction Ltd & Others.]]
	* OGC.		* OGC.
−	* Output-based specification.
	* PFIs and adjudication.		* PFIs and adjudication.
	* PF2		* PF2
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	* Public project definition.		* Public project definition.
	* Speculative construction.		* Speculative construction.
		+	* Types of development.

	= External references =		= External references =

Editor at 16:57, 2 June 2020

2020-06-02T16:57:16Z

← Older revision		Revision as of 16:57, 2 June 2020
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	* Construction contract.		* Construction contract.
	* Crown build.		* Crown build.
		+	* Design build finance transfer (DBFT).
	* Design build operate (DBO).		* Design build operate (DBO).
	* Design management.		* Design management.

Designing Buildings at 13:42, 4 February 2020

2020-02-04T13:42:53Z

← Older revision		Revision as of 13:42, 4 February 2020
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	Jason Millett, Mace's COO for its consultancy arm, said: "Given the demise of PFI, finding a new way to fund Britain's infrastructure is of the utmost importance. It's right that the private sector should contribute, but we need to be certain that whatever the new model is, it encourages sustainable, long term growth and doesn't undermine an industry that already faces serious challenges around margins and risk management." Ref [http://www.constructionmanagermagazine.com/news/chancellor-launches-pfi-replacement-consultation/ http://www.constructionmanagermagazine.com/news/chancellor-launches-pfi-replacement-consultation/]		Jason Millett, Mace's COO for its consultancy arm, said: "Given the demise of PFI, finding a new way to fund Britain's infrastructure is of the utmost importance. It's right that the private sector should contribute, but we need to be certain that whatever the new model is, it encourages sustainable, long term growth and doesn't undermine an industry that already faces serious challenges around margins and risk management." Ref [http://www.constructionmanagermagazine.com/news/chancellor-launches-pfi-replacement-consultation/ http://www.constructionmanagermagazine.com/news/chancellor-launches-pfi-replacement-consultation/]
−
−	~~= Find out more =~~

	For a detailed description of the sequence of the tasks undertaken on Private Finance Initiative (PFI) projects see the work: Public project: outline work plan.		For a detailed description of the sequence of the tasks undertaken on Private Finance Initiative (PFI) projects see the work: Public project: outline work plan.
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	* Speculative construction.		* Speculative construction.

−	=== External references ===	+	= External references =

	* [http://www.publications.parliament.uk/pa/cm201012/cmselect/cmtreasy/1146/114602.htm House of Commons Treasury select committee report on PFI]		* [http://www.publications.parliament.uk/pa/cm201012/cmselect/cmtreasy/1146/114602.htm House of Commons Treasury select committee report on PFI]

81.100.54.64 at 14:08, 29 November 2019

2019-11-29T14:08:26Z

← Older revision		Revision as of 14:08, 29 November 2019
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	On PFI projects, a single integrated supply team is appointed with design, construction and facilities management expertise to design and build a development and then to operate it for a period of time. A special purpose vehicle (SPV), of which the integrated supply team is a part, finances the project and leases it to the government for an agreed period (perhaps 30 years) after which the development reverts to government ownership.		On PFI projects, a single integrated supply team is appointed with design, construction and facilities management expertise to design and build a development and then to operate it for a period of time. A special purpose vehicle (SPV), of which the integrated supply team is a part, finances the project and leases it to the government for an agreed period (perhaps 30 years) after which the development reverts to government ownership.

−	As this is a very long-term relationship, entered into a before any design work has been undertaken, it is extremely important that the client defines their requirements properly, in particular the quality that is required and how it will be judged.	+	As this is a very long-term relationship, entered into before any design work has been undertaken, it is extremely important that the client defines their requirements properly, in particular the quality that is required and how it will be judged.

	This is done through the preparation of an output-based specification. This makes the output-based specification a crucial document upon which the successful design and the operation of the development will hinge. The client may need to appoint independent client advisers to help them with its preparation.		This is done through the preparation of an output-based specification. This makes the output-based specification a crucial document upon which the successful design and the operation of the development will hinge. The client may need to appoint independent client advisers to help them with its preparation.