Search results for 'PFI'

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  2. Equity investment in privately financed projects

    Report Value for money

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    Equity investors have helped to deliver many public sector infrastructure projects via the Private Finance Initiative and have managed them in ways from which the public sector can learn. Against a background of limited information, evidence gathered by the National Audit Office raises concern that the public sector is paying more than it should for equity investment.

  3. Achievement of Foundation Trust status by NHS hospital trusts

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    Many NHS trusts need to tackle a range of financial, quality and governance issues if they are to meet the standards required of them to become self-governing foundation trusts by 2014. The Department of Health and the NHS will now have to decide how they will deal with those facing the most severe problems.

  4. Lessons from PFI and other projects

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    Lessons from the large body of experience of using PFI can be applied to improve other forms of procurement. Government should also do more to act as an ‘intelligent customer’ in the procurement and management of projects.

  5. Procurement of the M25 private finance contract

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    The Highways Agency’s PFI contract to widen the M25 could have been better value for money. The slowness with which it was taken forward resulted in higher financing costs, and the Agency was slow to investigate a potentially cheaper alternative to widening.

  6. Financing PFI projects in the credit crisis and the Treasury’s response

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    By setting up an Infrastructure Financing Unit, Treasury helped reactivate the lending market for private finance projects. While the costs for projects in 2009 represented value for money, Treasury should not presume that continuing the use of private finance at current rates will be value for money.

  7. PFI in housing

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    The use of PFI by local authorities to improve housing, usually in areas with a high need for housing and where stock condition is particularly poor, has had a measure of success. However, risks to value for money of the programme have not been managed.

  8. The performance and management of hospital PFI contracts

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    Most PFI hospital contracts are well-managed and the evidence indicates that they are currently achieving the value for money expected when the contracts were signed. There continue to be risks, however, to the long-term value for money of these contracts.

  9. Ministry of Defence: Delivering multi-role tanker aircraft capability

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    The National Audit Office has been unable to conclude that the Ministry of Defence has achieved value for money from the procurement phase of its £10.5 billion private finance deal for the Future Strategic Tanker Aircraft (FSTA), according to a report released today. Despite managing the later stages of the procurement well, the MOD’s ability […]

  11. Performance of PFI Construction

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    This report examines how PFI performs to contracted timetable and to price.

  12. Private Finance Recommendations Database

    Report

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    Reports produced by the House of Commons’ Committee of Public Accounts (the PAC) following hearings based on our PFI and PPP investigations include nearly 1000 recommendations.

    We have collected these recommendations and the related Treasury responses into a PFI and PPP/Privatisation Recommendations database last updated: 19/06/2009.

  13. The Building Schools for the Future Programme: Renewing the secondary school estate

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    The Building Schools for the Future programme aims to rebuild, refurbish and provide new Information Technology for all 3,500 secondary schools in England by 2020. The Department for Children, Schools and Families (DCSF) underestimated how long it would take to launch the programme and build the schools, though the speed of delivery has compared well […]

  14. Department for Environment, Food and Rural Affairs: Managing the waste PFI programme

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    The Department for Environment, Food and Rural Affairs has recently made considerable progress in increasing the number and size of local authority projects to procure new waste treatment facilities under the Private Finance Initiative (PFI). But, according to a National Audit Office report today, the Department was initially too slow to respond to the 1999 […]

  15. Allocation and management of risk in Ministry of Defence PFI projects

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    Most Ministry of Defence projects funded by PFI deals are delivered satisfactorily, on time and on budget. In six of the eight projects examined by the NAO, the Department has generally achieved value for money through effective allocation and management of risks. Failures to identify and manage risks reduced the value for money achieved from […]

  17. The roll-out of the Jobcentre Plus office network

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    The Jobcentre Plus programme rolled out a network of over 800 offices, combining the functions of the former jobcentres and social security offices, and was completed for £314 million less than the original £2.2 billion budget according to a National Audit Office report released today. The project was well managed, particularly the procurement aspect, where […]

  20. Managing the Defence Estate: Quality and sustainability

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    The Ministry of Defence has introduced positive changes to how it manages its estate and has invested substantial resources to maintain and improve it. The MoD, however, accepts that it has more work to do to provide a sustainable estate of the right quality, the National Audit Office has today reported to Parliament. The MoD […]