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Public private partnerships, reevaluating value for money

Author

Listed:
  • Robert Eadie
  • Phillip Millar
  • Luke Toner

Abstract

Recession imposes significant pressures on resources, efficiency and effectiveness requiring inevitably, a detailed consideration of what constitutes the current understanding of value for money (VFM). Although a frequently quoted term, the literature indicates the historical development and understanding of VFM within the public private partnering (PPP) context is ambiguous, offering competing understandings. Against this background the study presents, analyses and evaluates quantitative and qualitative data obtained from 50 companies that participated in a web-based survey. Its purpose determined if contractors considered the PPP process constituted VFM. Practitioners' responses resolved ambiguities around VFM and established which literature confirms the best current understanding. Factors essential to achieving and measuring VFM are considered in detail and clarified including a series of key performance indicators (KPI) listed by Kagioglou et al. (2001). These are shown to perform differently for PPP projects. Conclusions confirm that in recession, practitioners still consider the PPP process constitutes VFM.

Suggested Citation

  • Robert Eadie & Phillip Millar & Luke Toner, 2013. "Public private partnerships, reevaluating value for money," International Journal of Procurement Management, Inderscience Enterprises Ltd, vol. 6(2), pages 152-169.
    • Handle: RePEc:ids:ijpman:v:6:y:2013:i:2:p:152-169
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    Citations

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    Cited by:

    1. Isaac Akomea-Frimpong & Xiaohua Jin & Robert Osei-Kyei, 2022. "Mapping Studies on Sustainability in the Performance Measurement of Public-Private Partnership Projects: A Systematic Review," Sustainability, MDPI, vol. 14(12), pages 1-20, June.
    2. Penyalver, Domingo & Turró, Mateu & Williamson, John B., 2019. "Measuring the value for money of transport infrastructure procurement; an intergenerational approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 238-254.
    3. Joshua Steinfeld & Kouliga Koala & Ron Carlee, 2019. "Contracting for public stewardship in public-private partnerships," International Journal of Procurement Management, Inderscience Enterprises Ltd, vol. 12(2), pages 135-155.

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