- Title
- VfM assessment of transport PPPs: Implications for future improvement
- Creator
- Zhao, Jianfeng; Humphrey, R; Liu, Henry J.; Sing, Michael C. P.; Jin, Xiaohua
- Relation
- 43rd Australasian Universities Building Education Association (AEBEA) Conference. Proceedings of the 43rd Australasian Universities Building Education Association (AEBEA) Conference (Noosa, Australia 06-08 November, 2019) p. 170-180
- Publisher
- Central Queenland University
- Resource Type
- conference paper
- Date
- 2019
- Description
- Public-Private Partnerships (PPPs) have been adopted to deliver transport infrastructure worldwide, attributing to governments’ increasingly limited fiscal budget. However, the key issue about whether PPPs can provide taxpayers with better value for money (VfM) is still under controversy. As an integral component of infrastructure procurement process, VfM assessment acts as an essential stage of governments ex-ante evaluation for the use of PPPs. Despite this, relevant empirical research, especially that of VfM assessment for the decision making of transport infrastructure procurement, has received limited attention. Against this backdrop, a total of 3 case studies of the Australian transport PPP projects has been undertaken and the SWOT analysis was conducted to examine current practice in VfM assessment. The empirical evidence of the case studies indicates that extant VfM assessment being used for the Australian state governments fails in addressing a critical perspective in terms of the improved service quality to be generated by private-sector entities. Based on this finding, a novel VfM-oriented decision-making model underpinned by the Dynamic Discrete Choice Model (DDCM) for future practical improvement has been proposed. This paper contributes to the body of knowledge of PPPs VfM assessment and is significant for enhancing industry practice in decision making of procurement selection within the context of transport infrastructure.
- Subject
- PPPs; transport PPPs; VfM assessment; decision making; SWOT analysis; case study
- Identifier
- http://hdl.handle.net/1959.13/1452402
- Identifier
- uon:44434
- Identifier
- ISBN:9781921047510
- Language
- eng
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