This review by the UK National Audit Office examines the performance of private finance initiative construction — in particular, whether Private Finance Initiative (PFI) projects deliver to expected time, price and quality.
The review updates the National Audit Office's 2003 report examining the evidence on the delivery of private finance construction programmes to expected time and price.
It considers new evidence on performance of PFI contracts gained from two surveys conducted in 2008 of a sample of public sector construction projects. It provides updated figures from the survey and weighs up the evidence on performance of non-PFI contracts.
It outlines the methodology used to produce the report and presents a range of findings on performance of PFI projects to the originally contracted timetable and price, alternative procurement routes that deliver to timetable and price, the quality of PFIconstruction and design and best practice in managing PFI projects.