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Percpetions of risk in the private finance initiative

Percpetions of risk in the private finance initiative
Percpetions of risk in the private finance initiative
The UK Government’s Private Finance Initiative introduces new arrangements for the provision of buildings from which public services are delivered. These arrangements require the private sector to take on new forms of risk. Discusses the progress of the Initiative and focuses on a study to determine whether differences exist in the weighting given by different “players” to these risks. Argues that the existence of such differences would present an additional barrier to the PFI’s implementation. The findings reveal that one form of risk, namely that associated with revenue from occupancy under PFI, is viewed as both of greater importance and more uncertain than other risks. Generally, however, finds that perceptions of risk are not significantly different between the four groups examined in the study (surveyors, financiers, contractors and purchasers).
finance, occupier’s liability, risk management
0958-868X
164-176
Gallimore, Paul
343d306a-34af-4cc0-a911-01b3f0c6ea45
Williams, Will
c0c21dc5-00fc-4e23-b912-547f0f1a7a50
Woodward, David
9d2e5339-0477-488c-aad0-0244e63e4736
Gallimore, Paul
343d306a-34af-4cc0-a911-01b3f0c6ea45
Williams, Will
c0c21dc5-00fc-4e23-b912-547f0f1a7a50
Woodward, David
9d2e5339-0477-488c-aad0-0244e63e4736

Gallimore, Paul, Williams, Will and Woodward, David (1997) Percpetions of risk in the private finance initiative. Journal of Property Finance, 8 (2), 164-176.

Record type: Article

Abstract

The UK Government’s Private Finance Initiative introduces new arrangements for the provision of buildings from which public services are delivered. These arrangements require the private sector to take on new forms of risk. Discusses the progress of the Initiative and focuses on a study to determine whether differences exist in the weighting given by different “players” to these risks. Argues that the existence of such differences would present an additional barrier to the PFI’s implementation. The findings reveal that one form of risk, namely that associated with revenue from occupancy under PFI, is viewed as both of greater importance and more uncertain than other risks. Generally, however, finds that perceptions of risk are not significantly different between the four groups examined in the study (surveyors, financiers, contractors and purchasers).

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Published date: 1997
Keywords: finance, occupier’s liability, risk management

Identifiers

Local EPrints ID: 36671
URI: https://eprints.soton.ac.uk/id/eprint/36671
ISSN: 0958-868X
PURE UUID: 18c3b8be-233c-40ca-98f5-edcee18fe922

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Date deposited: 15 Mar 2007
Last modified: 17 Jul 2017 15:44

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