Value for money test in infrastructure procurement

Author

Hui, Sun ; Ying, Zhou ; Zhi-Qing, Fan

Author_Institution

Sch. of Manage., Tianjin Univ., Tianjin, China

Volume

1

fYear

2010

fDate

9-10 Jan. 2010

Firstpage

549

Lastpage

553

Abstract

This paper describes the application of value for money (VFM) test in public project and infrastructure to evaluate whether PPP route should be chosen. The role VFM test played in the determination of procurement method is illustrated, and then the main approach to VFM test is proposed, which is the comparison between PSC and PPP. In order to measure if PPP is more VFM than traditional procurement, a benchmark should be set up. This benchmark is known as the public sector comparator (PSC). So the composition and calculation of PSC is introduced in this paper, and the matters need to be paid attention when using PSC is analyzed.

Keywords

organisational aspects; procurement; public administration; PPP route; VFM test; infrastructure procurement; public infrastructure; public private partnership; public project; public sector comparator; value-for-money test; Benchmark testing; Contracts; Delay; Financial management; Government; Measurement; Procurement; Project management; Risk management; Sun; Public Sector Comparator; Risk Allocation; Value for Money;

fLanguage

English

Publisher

ieee

Conference_Titel

Logistics Systems and Intelligent Management, 2010 International Conference on

Conference_Location

Harbin

Print_ISBN

978-1-4244-7331-1

Type

conf

DOI

10.1109/ICLSIM.2010.5461363

Filename

5461363