Hu, Z; Chen, S and Zhang, X (2014) Value for money and its influential factors: An empirical study of PPP projects in Japan. Built Environment Project and Asset Management, 4(2), pp. 166-179. ISSN 2044-124X
Abstract
Purpose: The purpose of this paper is to study the key influential factors and their impacts on the value for money (VFM) of projects developed through public-private partnerships (PPPs) with an objective to improve the VFM assessment of PPP projects. Design/methodology/approach: This paper has studied the key influential factors and their impacts on VFM of projects developed through PPPs with an objective to improve the VFM assessment of PPP projects. Findings: There are large variations in the VFM of PPP projects in many countries due to a number of factors affecting the setting and attainment of the VFM. This paper has identified the key factors that influence the VFM in PPP projects in Japan and evaluated their impacts on the VFM. Originality/value: Outputs of this study would provide some insights on the improvement in the VFM assessment of PPP projects, in terms of determining a suitable VFM for a particular PPP project in accordance with its specific operational environment, balancing the interests of both public and private sectors, and promoting the participation of the private sector in the timely provision of necessary public works and services.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | assessment; influential factors; project finance; public-private partnerships; value for money |
| Index terms: | partnership, private sector, Japan, empirical study, influential factor, variation, public work, methodology, project finance, value-for-money |
| Subjects: | risk assessment, industry analysis, partnership management, infrastructure engineering, evaluation, contractual condition, Geography, research methods, financial management |
| Topics: | Stakeholder Management, Risk Management, Engineering Principles, Geographical Context, Research Practice, Cost Management, Business Strategy, Contract Administration, Value Management |
| Descriptive scope: | 4 PCTA |
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