Li, B; Akintoye, A; Edwards, P J and Hardcastle, C (2005) Critical success factors for PPP/PFI projects in the UK construction industry. Construction Management and Economics, 23(5), pp. 459-471. ISSN 01446193
Abstract
Public-private partnerships (PPPs) are increasingly used in the United Kingdom's public facilities and services provision through the Private Finance Initiative (PFI). Despite some casualties, PPP/PFI projects have been undertaken successfully, but the reasons for success are not entirely clear. Questionnaire survey research examined the relative importance of 18 potential critical success factors (CSF) for PPP/PFI construction projects in the UK. The results show that the three most important factors are: 'a strong and good private consortium', 'appropriate risk allocation' and 'available financial market'. Factor analysis revealed that appropriate factor groupings for the 18 CSFs are: effective procurement, project implementability, government guarantee, favourable economic conditions and available financial market. These findings should influence policy development towards PPPs and the manner in which partners go about the development of PFI projects.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | critical success factor; factor analysis; PFI; PPP; procurement systems; project management |
| Index terms: | project management, construction industry, procurement system, factor analysis, risk allocation, partnership, economic condition, consortium, critical success factor, questionnaire, construction project, private finance initiative, survey, United Kingdom, guarantee, relative importance |
| Subjects: | control systems, data collection methods, risk assessment, economic analysis, contractual arrangements, financial risk, project management theory and practice, production management, Geography, contract structure, statistical analysis, industry analysis, partnership management |
| Topics: | Geographical Context, Project Management, Research Practice, Cost Management, Business Strategy, Procurement, Stakeholder Management, Risk Management |
| Descriptive scope: | 5 PCTEA |
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