2.50
Hdl Handle:
http://hdl.handle.net/2436/28854
Title:
Outsourcing the Risk Analysis Function in 'Private Finance Initiative' Projects
Authors:
Akintoye, Akintola; Beck, Matthias; Hardcastle, Cliff; Chinyio, Ezekiel A.; Asenova, Darinka
Abstract:
The optimisation of risk transfer and risk management in ‘Private Finance Initiative’ (PFI) projects involves the accurate assessment of these risks. The manner in which risks are analysed and the extent, to which this function is outsourced in PFI projects, is examined in this article. The discussions are informed by an investigation conducted at Glasgow Caledonian University. Literature was reviewed, upon which a survey instrument was developed. A qualitative methodology was adopted, and involved a total of 90 interviews with diverse PFI participants in the UK. The ‘AtlasTi’ software was utilised in the analysis of data. The interviews revealed that the bulk of the risk analysis function in PFI is usually done in-house, while a minor part is often outsourced to technical, legal and financial cum insurance experts. Other disciplines consulted, albeit occasionally, include traffic engineering, environmental science, planning and surveying. The objective is to outsource those aspects where in-house expertise is deficient. When tasked with risk analysis, consultants were adjudged to usually render a good job.
Citation:
Journal of Construction Procurement, 9(1): 15-30
Publisher:
University of Salford
Journal:
Journal of Construction Procurement
Issue Date:
2003
URI:
http://hdl.handle.net/2436/28854
Additional Links:
http://www.journalofconstructionprocurement.com/abstractdetails.asp?id=102
Type:
Article
Language:
en
Description:
This research was sponsored jointly by EPSRC and DETR and involved Carillion, Royal Bank of Scotland, Morrison Construction, Amec, Centre for the Built Environment in Glasgow and Public-Private Partnership Programme Ltd as partners.
ISSN:
1358-9180
Appears in Collections:
Construction and Infrastructure

Full metadata record

DC FieldValue Language
dc.contributor.authorAkintoye, Akintola-
dc.contributor.authorBeck, Matthias-
dc.contributor.authorHardcastle, Cliff-
dc.contributor.authorChinyio, Ezekiel A.-
dc.contributor.authorAsenova, Darinka-
dc.date.accessioned2008-05-29T11:35:39Z-
dc.date.available2008-05-29T11:35:39Z-
dc.date.issued2003-
dc.identifier.citationJournal of Construction Procurement, 9(1): 15-30en
dc.identifier.issn1358-9180-
dc.identifier.urihttp://hdl.handle.net/2436/28854-
dc.descriptionThis research was sponsored jointly by EPSRC and DETR and involved Carillion, Royal Bank of Scotland, Morrison Construction, Amec, Centre for the Built Environment in Glasgow and Public-Private Partnership Programme Ltd as partners.en
dc.description.abstractThe optimisation of risk transfer and risk management in ‘Private Finance Initiative’ (PFI) projects involves the accurate assessment of these risks. The manner in which risks are analysed and the extent, to which this function is outsourced in PFI projects, is examined in this article. The discussions are informed by an investigation conducted at Glasgow Caledonian University. Literature was reviewed, upon which a survey instrument was developed. A qualitative methodology was adopted, and involved a total of 90 interviews with diverse PFI participants in the UK. The ‘AtlasTi’ software was utilised in the analysis of data. The interviews revealed that the bulk of the risk analysis function in PFI is usually done in-house, while a minor part is often outsourced to technical, legal and financial cum insurance experts. Other disciplines consulted, albeit occasionally, include traffic engineering, environmental science, planning and surveying. The objective is to outsource those aspects where in-house expertise is deficient. When tasked with risk analysis, consultants were adjudged to usually render a good job.en
dc.language.isoenen
dc.publisherUniversity of Salforden
dc.relation.urlhttp://www.journalofconstructionprocurement.com/abstractdetails.asp?id=102en
dc.subjectOutsourcingen
dc.subjectRisk analysisen
dc.subjectPrivate Finance Initiativeen
dc.subjectGrounded theoryen
dc.subjectPFIen
dc.subjectRisk managementen
dc.subjectUKen
dc.subjectConstruction procurementen
dc.titleOutsourcing the Risk Analysis Function in 'Private Finance Initiative' Projectsen
dc.typeArticleen
dc.identifier.journalJournal of Construction Procurementen
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