Morledge, R and Owen, K (1998) Critical success factors in PFI projects. In: Hughes, W (ed.) Proceedings of 14th Annual ARCOM Conference, 9-11 September 1998, Reading, UK.
Abstract
The Private Finance Initiative (PFI) in the UK is increasingly being adopted as a procurement strategy to deliver infrastructure (and other privatized) projects in the UK. Privately financed projects allow governments to procure assets when needed (such as prisons, roads, hospitals) without burden to public capital expenditure. Projects procured in this way depend upon a long-term reliable income stream. This paper argues a case that there is a need to identify the primary criteria which need to be achieved in each PFI project if the future of such an initiative is to be assured. The paper analyses existing interpretations of Critical Success Factors (CSFs) to assist in establishing a new definition addressing the CSFs for PFI projects. The main factors considered to be crucial to PFI success were identified from a wide literature review. The opinion of clients, contractors, financiers, operators, and others involved in PFI was sought in relation to these factors through a pilot study. An analysis of the responses identified fourteen factors to be accepted as critical to the success of PFI projects. Following the pilot study these are submitted to be potential critical success factors for any PFI project and each CSF is defined.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | critical success factor; PFI; private finance initiative |
| Index terms: | capital expenditure, critical success factor, procurement strategy, private finance initiative, literature review, stream, income, prison |
| Subjects: | water management, data analysis and analytics, administrative law, control systems, economic analysis, contractual arrangements |
| Topics: | Project Management, Procurement, Business Strategy, Legal Issues, Sustainability, Research Practice |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here