An empirical study is presented to investigate the risk factors affecting the value for money that can be obtained from using the public-private partnership delivery system to develop social facility projects. Based on a model describing the main risks affecting a project, a linear regression analysis is conducted on a dataset of privately financed healthcare projects in the UK to explore the main factors that might have significant relationships with the annual unitary charge payment. The results reveal that the economic and political environment, the hospital capacity, the construction duration, and the concession period are significant factors of the price paid by the granting authority. The study confirms that the unitary charge is not only affected by investment, operations and financial lifecycle costs, but also by risk factors and the level of risk allocated to the private sponsors. The proposed methodology might help both public and private parties in improving PFI project’s compensation design, in order to achieve a higher value in privately financed infrastructures. The given model might also support the process of better determining the amount of annual payment based on select drivers and appropriately transferred risk factors.
Risk and Value in Privately Financed Health care Projects / De Marco, Alberto; Mangano, Giulio. - In: JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT. - ISSN 0733-9364. - STAMPA. - 139:8(2013), pp. 918-926. [10.1061/(ASCE)CO.1943-7862.0000660]
|Titolo:||Risk and Value in Privately Financed Health care Projects|
|Data di pubblicazione:||2013|
|Digital Object Identifier (DOI):||http://dx.doi.org/10.1061/(ASCE)CO.1943-7862.0000660|
|Appare nelle tipologie:||1.1 Articolo in rivista|