UID:
almahu_9948026466002882
Umfang:
1 online resource (549 pages)
Ausgabe:
Second edition.
ISBN:
0-08-100767-1
,
0-08-100766-3
Anmerkung:
Front Cover -- Public-Private Partnerships for Infrastructure -- Copyright Page -- Contents -- List of Figures -- List of Tables -- I. Introduction -- 1 Overview -- Part 1: Introduction -- Part 2: The Public-Sector Perspective -- Part 3: Risk Analysis and Allocation -- Part 4: The PPP Contract -- Part 5: The Private-Sector Perspective -- Part 6: Alternative Models-Summing Up -- 2 What Are Public-Private Partnerships? -- 2.1 Introduction -- 2.2 Public Infrastructure and the Private Sector -- 2.3 Public-Private Partnerships -- 2.4 Development and Structures -- 2.4.1 Concessions -- 2.4.2 Franchises and Affermage -- 2.4.3 Power-Purchase Agreements -- 2.4.4 BOO-BOT-BTO-DBFO -- 2.4.5 Project Finance -- 2.4.6 Project Finance for Concessions -- 2.4.7 Availability PPPs -- 2.5 PPPs in the Spectrum of Public Infrastructure -- 2.6 PPP Markets Worldwide -- 3 Cash Flow and Investment Analysis -- 3.1 Introduction -- 3.2 Present Value / Discounted Cash Flow -- 3.2.1 Present Value -- 3.2.2 Discounted Cash Flow -- 3.2.3 Using Discounted Cash-Flow Calculations -- 3.3 Internal Rate of Return -- 3.4 Problems with Discounted Cash Flow and Internal Rate of Return Calculations -- 3.4.1 Single Discount Rate -- 3.4.2 Discounted Cash-Flow Calculations and Different-Sized Projects -- 3.4.3 Internal Rate of Return and Cash Reinvestment -- 3.4.4 Internal Rate of Return and Different Project Lives -- 3.4.5 Internal Rate of Return and Positive / Negative Cash Flows -- 3.4.6 Cash Investment vs Risk -- 3.5 Uses in Public-Private Partnerships -- 3.5.1 By the Public Sector -- 3.5.2 By Private-Sector Investors -- 3.5.3 In PPP Contracts -- 3.5.4 By Lenders -- II. The Public-Sector Perspective -- 4 Policy, Legal and Institutional Frameworks -- 4.1 Introduction -- 4.2 Developing PPP Programmes -- 4.3 Legal Frameworks -- 4.3.1 Other Laws.
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4.3.2 Contract Standardisation -- 4.4 Policy Frameworks -- 4.4.1 Positive PPP Tests -- 4.5 PPP Guidance -- 4.6 Programme Approaches -- 4.7 PPP Units -- 4.8 Infrastructure Plans -- 5 The Project Cycle -- 5.1 Introduction -- 5.2 The Project Cycle -- 5.3 Phases in the Project Cycle -- 5.3.1 Phase 1: Needs Assessment -- 5.3.2 Phase 2: Project Definition and Options Appraisal -- 5.3.3 Phase 3: Project Economic Assessment and Selection -- 5.3.4 Phase 4: Procurement Review -- 5.3.5 Phase 5: Procurement Preparation -- 5.3.6 Phase 6: Procurement -- 5.3.7 Phase 7: Construction -- 5.3.8 Phase 8: Operation -- 5.3.9 Phase 9: Hand Back -- 5.4 Quality-Control Reviews and Approvals -- 5.5 The Five-Case Model -- 6 Public-Sector Project Management -- 6.1 Introduction -- 6.2 Project Governance -- 6.2.1 Project Board -- 6.2.2 Project Director and Project Team -- 6.3 Rôle of the PPP Unit -- 6.4 External Advisers -- 6.4.1 Financial Adviser -- 6.4.2 Legal Adviser -- 6.4.3 Technical Adviser -- 6.4.4 Other Specialist Advisers -- 6.4.5 Lead Transaction Advisers -- 6.4.6 Advisory Costs -- 6.5 Stakeholder Management -- 7 Assessing Needs, Project Definition and Selection -- 7.1 Introduction -- 7.2 Needs Assessment -- 7.3 Project Definition and Options Appraisal -- 7.3.1 Project Definition and Scope -- 7.3.2 Options Appraisal -- 7.4 Assessing Project Economic Viability -- 7.4.1 Identifying Benefits and Costs -- 7.4.2 Benefit-Cost Analysis -- 7.4.3 Public-Sector Discount Rate -- 7.4.4 Economic Rate of Return -- 7.5 Scope of the PPP -- 7.5.1 Packaging Smaller PPPs -- 8 The PPP Decision-Value for Money -- 8.1 Introduction -- 8.2 The Concept of 'Value for Money' -- 8.3 Quantitative VfM Assessment and the Public-Sector Comparator -- 8.3.1 The PSC Calculation-the 'Raw' PSC -- 8.3.2 The PSC Calculation-Risk Adjustment.
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8.3.3 The PSC Calculation-Optimism Bias -- 8.3.4 The PSC Calculation-Competitive Neutrality -- 8.3.5 Should the PSC be Updated? -- 8.3.6 Should the PSC be Disclosed to Bidders? -- 8.4 The PPP Option -- 8.5 Comparison of the PSC and PPP Options -- 8.6 Problems With Quantitative Analysis -- 8.6.1 Credibility of Risk Adjustments -- 8.6.2 Discount Rate -- 8.6.3 Comparing Like with Like -- 8.7 Benefit of the Quantitative Approach -- 8.8 Qualitative Analysis -- 8.8.1 Motivations for Using a PPP -- 8.8.2 Criteria for Choosing the PPP Route -- 8.8.3 VfM of the PPP Process -- 8.8.4 Difficulties with the Qualitative Approach -- 8.9 Integrating VfM Assessment in the Procurement Process -- 8.9.1 Stages in VfM Assessment -- 8.9.2 VfM Assessment Guidance -- 8.9.3 Responsibility for VfM Assessment -- 8.9.4 Importance of Project Preparation and Competition to Ensure VfM -- 9 The PPP Decision-Affordability, Budgeting and Reporting -- 9.1 Introduction -- 9.2 Affordability -- 9.2.1 The Affordability Illusion -- 9.2.2 Affordability and Availability PPPs -- 9.2.3 Affordability and Concessions -- 9.2.4 Affordability and VfM -- 9.3 Budgeting for PPPs -- 9.3.1 Long-Term PPP Spending Commitments -- 9.3.2 Dealing with Off-Balance-Sheet PPPs in the Budget System -- 9.3.3 Credibility of Future Budget Appropriations -- 9.3.4 Budgeting for Contingent-Payment Commitments -- 9.3.5 PPP Affordability Caps -- 9.4 Financial Accounting and Statistical Reporting -- 9.4.1 Financial-Accounting Standards -- 9.4.2 Financial Accounting-The Control Principle -- 9.4.3 Financial Accounting for Guarantees -- 9.4.4 Statistical Reporting -- 9.4.5 Eurostat -- 9.5 Other Forms of Reporting -- 9.6 Final Observations -- 10 PPP Procurement -- 10.1 Introduction -- 10.2 Objectives of the Procurement Process -- 10.3 Preparing for Procurement.
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10.4 Market Sounding and Commercial Assessment -- 10.5 Procurement Procedures -- 10.6 The Bidding Process -- 10.6.1 Pre-Qualification -- 10.6.2 Bid Documents -- 10.6.3 Communication With Bidders -- 10.6.4 Running a Competitive-Dialogue Process -- 10.6.5 Bid Evaluation -- 10.6.6 Affordability of Bids -- 10.6.7 Commercial Viability -- 10.6.8 Post-Bid Negotiation -- 10.6.9 Bid Award -- 10.7 Other Procurement Issues -- 10.7.1 Non-Conforming Bids -- 10.7.2 Bid Consortium and Other Changes -- 10.7.3 Bonding -- 10.7.4 Payment of Bid Costs -- 10.7.5 Unsolicited Proposals -- 10.8 Due Diligence -- 10.8.1 Project Design -- 10.8.2 Subcontracts -- 10.8.3 Financing -- 10.8.4 Financial Close -- III. PPP Risk Analysis and Allocation -- 11 Risk Analysis-Theory and Methodologies -- 11.1 Introduction -- 11.2 Identifying Risks -- 11.3 Valuing Risks -- 11.4 Risk Allocation -- 11.5 How Lenders Perceive Risks in PPPs -- 11.6 The Risk Register -- 11.6.1 Categories of Risks -- 11.6.2 Risk Mismatching -- 11.7 Risk Interdependencies -- 11.8 Contracting Authority's Requirements -- 12 Risk Allocation-Construction Phase -- 12.1 Introduction -- 12.2 Project Site -- 12.2.1 Site Acquisition -- 12.2.2 Ground Condition -- 12.2.3 Planning and Permits -- 12.2.4 Environmental Impact and Related Risks -- 12.2.5 Archæology and Fossils -- 12.2.6 Access, Rights of Way and Easements -- 12.2.7 Connections to the Site -- 12.2.8 Protesters -- 12.2.9 Disposal of Surplus Land -- 12.3 Construction -- 12.3.1 Construction Subcontract -- 12.3.2 Construction Subcontractor -- 12.3.3 Price Adjustments -- 12.3.4 Revenue Risk during Construction -- 12.3.5 Delay in Completion -- 12.3.6 Failure to Meet Output Specifications -- 12.3.7 Contingency Reserve -- 12.4 Construction Liquidated Damages and Security -- 12.4.1 Liquidated Damages.
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12.4.2 Termination of the Construction Subcontract -- 12.4.3 Security -- 12.5 Risks for the Construction Subcontractor and Contracting Authority -- 12.5.1 Construction Subcontractor: Payment Risk -- 12.5.2 Contracting Authority: Completion Risk -- 12.6 Design -- 13 Risk Allocation-Operation Phase -- 13.1 Introduction -- 13.2 Demand -- 13.3 Network -- 13.4 Revenue Payment -- 13.5 Availability and Service Quality -- 13.6 Operating Expenses-FM/O& -- M Costs -- 13.7 Other Operating Expenses -- 13.8 Continuity of Service -- 13.9 Interface Risks -- 13.10 Political Risks -- 14 The Rôle of Insurance -- 14.1 Introduction -- 14.2 Insurance Brokers and Advisers -- 14.3 Construction-Phase Insurances -- 14.3.1 Contractor's All Risks -- 14.3.2 Delay in Start-Up (DSU) -- 14.3.3 Marine All Risks/DSU -- 14.3.4 Force Majeure -- 14.3.5 Third-Party Liability -- 14.3.6 Other Insurances -- 14.4 Operation-Phase Insurances -- 14.4.1 All Risks -- 14.4.2 Business Interruption (BI) -- 14.4.3 Contingent BI -- 14.4.4 Increased Cost of Working -- 14.4.5 Third-Party Liability -- 14.5 Deductibles -- 14.6 Lenders' Requirements -- 14.7 Contracting Authority's Requirements -- 14.8 Control of Insurance Proceeds -- 14.9 Contracting Authority-Provided Insurance -- 14.10 Insurance-Premium Cost Risk -- 14.11 Unavailability of Insurance Terms -- 14.12 Uninsurability -- IV. The PPP Contract -- 15 Service-Fee Payment Mechanism -- 15.1 Introduction -- 15.2 Contracting for Outputs -- 15.3 Service-Fee Payment Structure -- 15.3.1 Contract Tenor -- 15.3.2 Payment Profile -- 15.4 Start Date for Payments -- 15.4.1 Service Availability Date -- 15.4.2 Revenue During Construction -- 15.4.3 Delay in Completion -- 15.5 Usage-Based Payments -- 15.5.1 Toll Levels -- 15.5.2 Limiting Revenues -- 15.5.3 Initial Payment to the Contracting Authority.
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15.5.4 Shadow Tolls.
Sprache:
Englisch
