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Critical success factors for PPP/PFI projects in the UK construction industry

Author

Listed:
  • Bing Li
  • A. Akintoye
  • P. J. Edwards
  • C. Hardcastle

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.

Suggested Citation

  • Bing Li & A. Akintoye & P. J. Edwards & C. Hardcastle, 2005. "Critical success factors for PPP/PFI projects in the UK construction industry," Construction Management and Economics, Taylor & Francis Journals, vol. 23(5), pages 459-471.
  • Handle: RePEc:taf:conmgt:v:23:y:2005:i:5:p:459-471 DOI: 10.1080/01446190500041537
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    1. repec:bla:joares:v:4:y:1966:i::p:71-111 is not listed on IDEAS
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    Cited by:

    1. Afeez Olalekan Sanni & Maizon Hashim, 2016. "A review of public private partnership procurement practice in Malaysia," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 8(1), pages 20-36.
    2. Ernest Ameyaw Effah & Albert Chan & De-Graft Owusu-Manu, 2015. "Domestic Private Sector Participation in Small-Town Water Supply Services in Ghana: Reflections on Experience and Policy Implications," Public Organization Review, Springer, vol. 15(2), pages 175-192, June.
    3. repec:spr:gjofsm:v:18:y:2017:i:4:d:10.1007_s40171-017-0164-6 is not listed on IDEAS
    4. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Discussion Paper 2014-017, Tilburg University, Tilburg Law and Economic Center.
    5. Jinbo Song & Honglian Zhang & Wanli Dong, 2016. "A review of emerging trends in global PPP research: analysis and visualization," Scientometrics, Springer;Akadémiai Kiadó, vol. 107(3), pages 1111-1147, June.
    6. repec:spr:endesu:v:19:y:2017:i:5:d:10.1007_s10668-016-9843-2 is not listed on IDEAS
    7. Carvalho, João & Cruz, Nuno & Cunha Marques, Rui, 2010. "Local governments opting for PPPs in the schools sector," MPRA Paper 22558, University Library of Munich, Germany.
    8. repec:gam:jsusta:v:9:y:2017:i:11:p:1940-:d:116369 is not listed on IDEAS
    9. Shiying Shi & Heap-Yih Chong & Lihong Liu & Xiaosu Ye, 2016. "Examining the Interrelationship among Critical Success Factors of Public Private Partnership Infrastructure Projects," Sustainability, MDPI, Open Access Journal, vol. 8(12), pages 1-20, December.
    10. Rostek, Katarzyna, 2012. "The reference model of competitiveness factors for SME medical sector," Economic Modelling, Elsevier, vol. 29(5), pages 2039-2048.
    11. Chou, Jui-Sheng & Ping Tserng, H. & Lin, Chieh & Yeh, Chun-Pin, 2012. "Critical factors and risk allocation for PPP policy: Comparison between HSR and general infrastructure projects," Transport Policy, Elsevier, pages 36-48.
    12. Senen MACHMUD & Iwan SIDHARTA, 2016. "Role of public private partnership in West Java, Indonesia," Romanian Economic Business Review, Romanian-American University, vol. 11(1), pages 67-87, March.
    13. Shakir Hafeez & Shahid Hussain & Yasir Javed & Bilal Bin Saeed, 2016. "Influence of Benefits Realization Management on Business Strategies and Project Success in Pakistan’s Construction Projects," International Review of Management and Marketing, Econjournals, vol. 6(3), pages 481-493.

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