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

Cliff Hardcastle, Akintola Akintoye, Li H Bing, Peter J Edwards

Research output: Contribution to journalArticle

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.
Original languageEnglish
Pages (from-to)459-471
JournalConstruction Management and Economics
Volume23
Issue number5
DOIs
Publication statusPublished - 2005

Fingerprint Dive into the research topics of 'Critical success factors for PPP/PFI projects in the UK construction industry'. Together they form a unique fingerprint.

  • Cite this