Access the full text.
Sign up today, get DeepDyve free for 14 days.
A. Akintoye, Craig Taylor, Eamon Fitzgerald (1998)
Risk analysis and management of Private Finance Initiative projectsEngineering, Construction and Architectural Management, 5
C. Boothroyd, J. Emmett
Risk Management: A Practical Guide for Construction Professionals
Cost Engineer
RISKMAM – the new European methodology for project risk management
A. Akintoye, P. Bowen, K. Evans
Analysis of development in the UK Public Private Partnership
S. Boyle, A. Harrison
Investing in Health Buildings: Public‐Private Partnerships
A. Pollock, J. Shaoul, N. Vickers (2002)
Private finance and “value for money” in NHS hospitals: a policy in search of a rationale?BMJ : British Medical Journal, 324
A.M.A. Research
PFI/PPP in the UK healthcare sector
R. Kangari (1995)
Risk Management Perceptions and Trends of U.S. ConstructionJournal of Construction Engineering and Management-asce, 121
Purpose – The UK Government has now adopted Private Finance Initiative (PFI) as a major vehicle for the delivery of additional resources to the health sector in order to achieve a greater investment in healthcare facilities. The purpose of this paper is to examine the trends and risk assessment of the PFI in the healthcare sector. Design/methodology/approach – The paper employed secondary data and interviews of key participants in two hospital PFI projects to highlight developments in healthcare PFI and the risk management of hospital projects. Findings – The results show that the use of PFI in the provision of healthcare is increasing in terms of number, capital value and size of projects. What emerged in the healthcare PFI project was a usage of a plethora of risk management techniques, albeit to varying degrees. Experience appeared to be the prime risk assessment technique employed, while risk avoidance was first explored before pricing and allocating any residual risks. “Risk prompts”, such as using checklists and risk registers were also useful in the identification of risks. Among all participants, insurance cover and sub‐contracting appear to be the most prominent strategies employed for managing out the risks. Originality/value – The negotiations that precede the signing of a healthcare PFI project contract had an impact on the final choice of facilities or their specifications. The two contracting parties sought a balance between an optimal allocation of risks, choice of facilities and project price. Although the risk management techniques being used are generic in nature, there is still no evidence at the moment to show that these are appropriate for PFI projects. It is important that further investigation is undertaken to assess the level of current skills in risk management techniques to deal with PFI projects and the extent to which these techniques are appropriate to tackle complex healthcare PFI projects.
Engineering Construction & Architectural Management – Emerald Publishing
Published: Dec 1, 2005
Keywords: Procurement; Risk management; Hospitals; Health services sector; Private finance; United Kingdom
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.