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Penelitian ini bertujuan untuk mengukur, menganalisis, serta mengetahui bagaimana kinerja pada Dinas Sosial Kota Surabaya dari tahun 2017-2021 yang di ukur dari Laporan Akuntabilitas Kinerja Instansi Pemerintah (LAKIP) dengan menggunakan Value For Money. Metode yang digunakan pada penelitian ini yaitu menggunakan metode deskriptif kualitatif, dengan sumber data berupa data primer dan sekunder. Teknik pengumpulan data yang digunakan yaitu survey, wawancara dan dokumentasi, informa dalam penelitian ini terdiri dari satu kepala sub koordinator umum dan kepegawaian, dua staff umum dan kepegawaian dan satu lagi dari masyarakat. Hasil penelitian ini menunjukkan bahwa Kinerja pada Dinas Sosial Kota Surabaya telah ekonomis, efisien, dan efektif. Pada pengukuran ekonomis mengacu pada anggaran atau input dengan realisasi anggaran. Pengukuran efisien berdasarkan perbandingan jumlah realisasi output yang dihasilkan dengan input. Sedangkan pengukuran efektivitas dapat ditinjau melalui perbandingan antara target aggaran dengan realisasi yang sesungguhnya. Dan hasil dari penilaian Good Governance dengan menggunakan prinsip akuntabilitas dan transparansi, penilaian akuntabilitas yang diukur dari LAKIP dan SAP menunjukkan bahwa Dinas Sosial Kota Surabaya telah menjalankan kinerjanya dengan akuntabel. Dan penilaian dari transparansi menunjukkan telah berhasil dalam menyelenggarakan transparansi kepada masyarakat.

Penelitian ini bertujuan untuk mengukur, menganalisis, serta mengetahui bagaimana kinerja pada Dinas Sosial Kota Surabaya dari tahun 2017-2021 yang di ukur dari Laporan Akuntabilitas Kinerja Instansi Pemerintah (LAKIP) dengan menggunakan Value For Money. Metode yang digunakan pada penelitian ini yaitu menggunakan metode deskriptif kualitatif, dengan sumber data berupa data primer dan sekunder. Teknik pengumpulan data yang digunakan yaitu survey, wawancara dan dokumentasi, informa dalam penelitian ini terdiri dari satu kepala sub koordinator umum dan kepegawaian, dua staff umum dan kepegawaian dan satu lagi dari masyarakat. Hasil penelitian ini menunjukkan bahwa Kinerja pada Dinas Sosial Kota Surabaya telah ekonomis, efisien, dan efektif. Pada pengukuran ekonomis mengacu pada anggaran atau input dengan realisasi anggaran. Pengukuran efisien berdasarkan perbandingan jumlah realisasi output yang dihasilkan dengan input. Sedangkan pengukuran efektivitas dapat ditinjau melalui perbandingan antara target aggaran dengan realisasi yang sesungguhnya. Dan hasil dari penilaian Good Governance dengan menggunakan prinsip akuntabilitas dan transparansi, penilaian akuntabilitas yang diukur dari LAKIP dan SAP menunjukkan bahwa Dinas Sosial Kota Surabaya telah menjalankan kinerjanya dengan akuntabel. Dan penilaian dari transparansi menunjukkan telah berhasil dalam menyelenggarakan transparansi kepada masyarakat.

Background - Generation Z is the future larger group of consumers. Members of thisgeneration are key in the strategy of brands to remain competitive in the long-term. Buttheir loyalty is more difficult to get compared to other generations. It is assumed that itis linked to their specific expectations and the way brands handle them. Thus, theobjective of this study is to determine the real influence of these particular expectationson the two dimensions of Gen Z brand loyalty, attitudinal and behavioural.Method - Several hypotheses about the relationships between attitudinal loyalty,behavioural loyalty, ethical position, omnichannel experience, value for money,entertaining content and authenticity have been made. To confirm them, a questionnairetargeting French Gen Z and focusing on fashion brands has been sent via social mediaand answered by 150 respondents.Findings - The results of linear regressions show that value for money has a positiveinfluence on both attitudinal and behavioural loyalty. Also, omnichannel experienceinfluences behavioural loyalty positively while entertaining content influencesattitudinal loyalty positively. On the contrary, entertaining content has a negative impacton behavioural loyalty. So attitudinal loyalty as a moderating effect as its influence onbehavioural loyalty is positive. Ethical position and authenticity did not show anysignificant results.Conclusions - Value for money, omnichannel experience and entertaining content areespecially important to consider when it comes to Gen Z loyalty. Quite the reverse,ethics and authenticity are not as essential as suggested by many researchers andmarketers. Beyond this, the study contributes to knowledge by proving that brandloyalty should not be considered as a unit but as a multi-dimensional concept. Gen Zexpectations do not have the same influence on attitudinal and behavioural loyalty somarketers should be aware of that when building their strategy.

Background - Generation Z is the future larger group of consumers. Members of thisgeneration are key in the strategy of brands to remain competitive in the long-term. Buttheir loyalty is more difficult to get compared to other generations. It is assumed that itis linked to their specific expectations and the way brands handle them. Thus, theobjective of this study is to determine the real influence of these particular expectationson the two dimensions of Gen Z brand loyalty, attitudinal and behavioural.Method - Several hypotheses about the relationships between attitudinal loyalty,behavioural loyalty, ethical position, omnichannel experience, value for money,entertaining content and authenticity have been made. To confirm them, a questionnairetargeting French Gen Z and focusing on fashion brands has been sent via social mediaand answered by 150 respondents.Findings - The results of linear regressions show that value for money has a positiveinfluence on both attitudinal and behavioural loyalty. Also, omnichannel experienceinfluences behavioural loyalty positively while entertaining content influencesattitudinal loyalty positively. On the contrary, entertaining content has a negative impacton behavioural loyalty. So attitudinal loyalty as a moderating effect as its influence onbehavioural loyalty is positive. Ethical position and authenticity did not show anysignificant results.Conclusions - Value for money, omnichannel experience and entertaining content areespecially important to consider when it comes to Gen Z loyalty. Quite the reverse,ethics and authenticity are not as essential as suggested by many researchers andmarketers. Beyond this, the study contributes to knowledge by proving that brandloyalty should not be considered as a unit but as a multi-dimensional concept. Gen Zexpectations do not have the same influence on attitudinal and behavioural loyalty somarketers should be aware of that when building their strategy.

Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.

Within the tourism industry is customer satisfaction creation crucial for companies’ success. As visitor attractions are operating in the highly relevant and competitive tourism industry, satisfaction generation for their visitors is a key to success and a competitive advantage. To positively affect visitor satisfaction (VS), existing research mostly suggest increasing visit durations (VD) (i.e., a positive effect of VD on VS). However, contrary findings also appeared; thus, it remains unclear why and under which conditions the positive effect occurs and is leveraged or weakened. This study empirically analyses moderating and mediating effects on the VD-VS association using a visitor survey. Visitors' previous experience with other related visitor attractions, importance of recommendations by others to the visitation decision, and visitors' personal life satisfaction were included as moderating variables, value for money was added as the mediating variable. Results indicate that the VD–VS association is strengthened, with higher levels of visitors' previous experience with other related visitor attractions, with decreasing levels of importance of recommendations by others to the visitation decision, and with decreasing levels of visitors' personal life satisfaction. Moreover, value for money mediates the effect of visit duration on visitor satisfaction. As such, this study provides practical insights into a more visitor segment-specific utilization of VD for managing VS more efficiently and contributes to the visitor attraction literature by investigating variables influencing the VD–VS relationship.

Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.

Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.

Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.

Framework: Healthcare project finance (PF) involves long-term structural investments in hospitals, typically within a public–private partnership (PPP). Banks represent the third major stakeholder, supporting the private player. Within this well-known framework, digital platforms represent a new virtual stakeholder, operating as a bridging node that incorporates information, and eases transactions. The relationships among the stakeholders are re-engineered around the platform and may be expressed with network theory patterns, even considering its multilayer extensions. Justification: As these investments are highly leveraged, especially during the construction phase, bankability represents a major sustainability concern. Objective: The research question is focused on the savings deriving from the introduction of networked digital platforms, and on their impact on bankability, shaping a new PPP model. Methodology: The study is conducted through (a) an economic–financial sensitivity analysis where digital savings impact on key PF parameters, including bankability; (b) a mathematical interpretation, based on network theory, where the stakeholders of two ecosystems—respectively, without and with a digital platform—are compared. Results: The creation of a value-adding “pie” anticipates its partitioning among the value co-creating stakeholders. This study represents an advance in the field, showing how technological innovation may improve the overall bankability and the value creation of leveraged infrastructural investments, even beyond the healthcare industry.

Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.

This research aims to examine the effect of accountability, transparency, and supervision on-budget performance of the Value for Money concept. The research was conducted on 43 local work units in Special Capital Region (DKI) Jakarta Province. The sample of the research consists of 86 government officials using Structural Equation Modeling (SEM) analysis to test the hypothesis. The result of this research-proven that accountability and supervision have significantly affected the on-budget performance of the Value for Money concept, while transparency showed no effect on the effectiveness on-budget performance of the same concept., Esta investigación tiene como objetivo examinar el efecto de la rendición de cuentas, la transparencia y la supervisión en el rendimiento presupuestario del concepto Value for Money. Investigación realizada en 43 unidades de trabajo locales en la Región de Capital Especial (DKI) Provincia de Yakarta. La muestra de la investigación consta de 86 funcionarios gubernamentales y se utiliza el análisis de modelado de ecuaciones estructurales (SEM) para probar la hipótesis. El resultado de esta investigación demostró que la rendición de cuentas y la supervisión tienen un efecto significativo en el rendimiento presupuestario del concepto Value for Money, mientras que la transparencia no mostró ningún efecto sobre la eficacia en el rendimiento presupuestario del mismo.

This research aims to examine the effect of accountability, transparency, and supervision on-budget performance of the Value for Money concept. The research was conducted on 43 local work units in Special Capital Region (DKI) Jakarta Province. The sample of the research consists of 86 government officials using Structural Equation Modeling (SEM) analysis to test the hypothesis. The result of this research-proven that accountability and supervision have significantly affected the on-budget performance of the Value for Money concept, while transparency showed no effect on the effectiveness on-budget performance of the same concept., Esta investigación tiene como objetivo examinar el efecto de la rendición de cuentas, la transparencia y la supervisión en el rendimiento presupuestario del concepto Value for Money. Investigación realizada en 43 unidades de trabajo locales en la Región de Capital Especial (DKI) Provincia de Yakarta. La muestra de la investigación consta de 86 funcionarios gubernamentales y se utiliza el análisis de modelado de ecuaciones estructurales (SEM) para probar la hipótesis. El resultado de esta investigación demostró que la rendición de cuentas y la supervisión tienen un efecto significativo en el rendimiento presupuestario del concepto Value for Money, mientras que la transparencia no mostró ningún efecto sobre la eficacia en el rendimiento presupuestario del mismo.

This research aims to examine the effect of accountability, transparency, and supervision on-budget performance of the Value for Money concept. The research was conducted on 43 local work units in Special Capital Region (DKI) Jakarta Province. The sample of the research consists of 86 government officials using Structural Equation Modeling (SEM) analysis to test the hypothesis. The result of this research-proven that accountability and supervision have significantly affected the on-budget performance of the Value for Money concept, while transparency showed no effect on the effectiveness on-budget performance of the same concept., Esta investigación tiene como objetivo examinar el efecto de la rendición de cuentas, la transparencia y la supervisión en el rendimiento presupuestario del concepto Value for Money. Investigación realizada en 43 unidades de trabajo locales en la Región de Capital Especial (DKI) Provincia de Yakarta. La muestra de la investigación consta de 86 funcionarios gubernamentales y se utiliza el análisis de modelado de ecuaciones estructurales (SEM) para probar la hipótesis. El resultado de esta investigación demostró que la rendición de cuentas y la supervisión tienen un efecto significativo en el rendimiento presupuestario del concepto Value for Money, mientras que la transparencia no mostró ningún efecto sobre la eficacia en el rendimiento presupuestario del mismo.

peer-reviewed, Advocates of public-private partnerships (PPPs) argue that they can deliver public infrastructure more efficiently than traditional procurement through timelier completion and superior value for money. Despite these claims comparative analysis of the performance of both procurement methods has received scant attention in the PPP literature to date. This paper addresses this issue by providing an in-depth,case-based comparison of PPP versus traditional procurement in the schools sector in Ireland. Through detailed semi-structured interviews with key stakeholders and an examination of the available documentation, we assess whether the key objectives ofusing PPP have been achieved. Overall, we find no evidence that PPP leads to faster delivery of infrastructure when the overall procurement process from contract notice to delivery is accounted for. In addition, we find only limited evidence to suggest that PPP results in better value for money., peer-reviewed

There is increasing scrutiny on social investments to determine whether they deliver value for money (VFM), but current approaches to assessing VFM are incomplete. The disciplines of economics and evaluation share an interest in valuing resource use, but tend to operate as complementary or rival disciplines rather than being integrated within an overarching logic. Cost-benefit analysis (CBA) is often regarded as the gold standard for evaluating VFM, but has recognised limitations. For example, collective values, distributive justice, power dynamics, public dialogue, and qualitative evidence are peripheral to the method. Conversely, program evaluation offers more capacious approaches to determining value but rarely includes costs, let alone reconciling value added with value consumed. This disciplinary divide may diminish capacity for good resource allocation decisions. The aim of this theory-building research was to develop a model to guide the evaluation of VFM in social policies and programs. A conceptual model was developed through critical analysis of literature, proposing requirements for good evaluation of VFM. Gap analysis was conducted to determine the extent to which CBA can meet the requirements of the conceptual model. Cumulative findings from the first two studies were dissected into a series of theoretical propositions. A process model was developed, identifying a series of steps that should be followed to operationalise the conceptual model. Case studies of real-world VFM evaluations in two international development programs were analysed to assess the conceptual quality of the theoretical propositions. This research makes seven significant and novel contributions to the field of evaluation. First, VFM is an evaluative question, demanding a judgement based on logical argument and evidence. Second, VFM is a shared domain of two disciplines, because it is concerned with merit, worth and significance (the domain of evaluation) and resource allocation (the

Tesi per compendi de publicacions, Investments in major transport infrastructure projects involve a significant mobilisation of economic resources both for construction and operation. In these projects, to assess the efficiency of the resources used, decision-makers usually use cost-benefit analysis (CBA). This key element of welfare economics is carried out taking into account the effects for society as a whole. Social welfare is thus measured independently of who are the components of society receiving the benefits or suffering the costs. However, besides the best use of resources, which should be always ensured, transport projects often have other objectives. These objectives, which are ideally defined by the political programs of elected decision-makers, often involve redistributive effects. Favouring the economic development of less advanced regions is, for instance, an argument that is used to justify territorial biases in investment. Practitioners have increasingly tried to identify redistributive effects to both create awareness of their existence and to quantify them in order to incorporate them rigorously in project appraisal. Intergenerational redistributive effects due to the financial scheme adopted for the project are a kind of redistributive effects that has neither been properly highlighted nor researched until now. The actual payments to cover the costs of projects unfolding over long timespans depend on the financing formula chosen and affect taxpayers and/or users of different generations. When transport investments are directly covered by the annual budgets of public administrations, they are paid by the taxpayers of the construction period but benefit users that will live in decades ahead. However, if the project is financed through loans, their payment schedule will define a very different financial time-profile. Relating the payments profile with the benefits produced by the project, which occur over its life cycle, can indicate the fairness of the distribution of expenditure a, Las inversiones en grandes proyectos de infraestructura de transporte comportan una movilización significativa de recursos económicos. Para analizar si se realiza un uso eficiente de estos recursos, los responsables de la toma de decisiones suelen evaluar la rentabilidad socieconómica de la inversión mediante un análisis coste-beneficio (ACB). Este análisis se lleva a cabo teniendo en cuenta los efectos del proyecto para la sociedad en su conjunto, sin tener en cuenta quiénes reciben los beneficios y quiénes sufren los costos. Sin embargo, las grandes inversiones en proyectos de transporte a menudo persiguen favorecer ciertos grupos sociales, territorios, etc. Estos objetivos, idealmente establecidos en los programas políticos de los responsables de la toma de decisiones, a menudo implican efectos redistributivos. Los efectos redistributivos de carácter social, territorial y medioambiental se han tratado de identificar tanto para crear conciencia de su existencia como con el fin de incorporarlos rigurosamente a la evaluación del proyecto. Sin embargo, los efectos redistributivos de carácter intergeneracional derivados de la fórmula de financiación utilizada para llevar a cabo el proyecto han pasado relativamente desapercibidos hasta ahora. Los pagos que se realizan para sufragar los costos de los proyectos dependen del montaje financiero finalmente empleado. En este sentido, si se recurre a préstamos a muy largo plazo, serán los contribuyentes y/o usuarios de diferentes generaciones quienes terminarán soportando la carga financiera del proyecto. Pero si la inversión principal se sufraga directamente con los presupuestos anuales de las administraciones públicas, la carga financiera recaerá en los contribuyentes del período de construcción mientras usuarios que vivirán en las próximas décadas se benefician de los efectos positivos del proyecto. Relacionar el perfil temporal de pagos y beneficios a lo largo del ciclo de vida del proyecto permite obtener información ace, Postprint (published version)

This paper analyzes the renegotiation problem in the context of public-private partnership projects. Utilizing a game-theoretic approach, an equilibrium is found in which the government finds that accepting renegotiation can be efficient. A first indicator is proposed based the public sector comparator (PSC) that can be estimated by policymakers as an additional tool when deciding about renegotiation. A second more theoretical indicator is derived to analyze the economic and financial variables affecting renegotiation. This indicator is applied to four case studies in different countries (England, Taiwan, Portugal and China) and the results suggest that the model performs well.

Schools today are entrusted with the duty of managing their funds in such a way that that the educational outcomes of the primary beneficiaries of these funds are maximised. This places more responsibility on the school governing bodies as the legal custodians of these funds, at local level, which need to be used economically, effectively and efficiently. To achieve this, school governing bodies need capacity in the form of appropriate skills and knowledge needed to connect school funding to educational outcomes. This study focuses on how capacity building for school governing body can contribute to value for money in school financial management. It sought to examine possible impediments to effective financial management, which result from the existing gaps in the current capacity building programmes and the financial management frameworks and procedures relating to school financial management. A qualitative research methodology involving in-depth interviews with members of governing bodies and Circuit officials was followed to examine the problem and possible improvement strategies. Themes that emerged from the data include, comprehensiveness, duration and frequency of the training programme, competency of training facilitators, monitoring, assessment and evaluation and other follow-up modalities, presentation style of the training facilitators, internal records and audited financial statements, the involvement of senior officials in school financial management, and the effectiveness of financial management. Findings suggested that, training of SGBs in financial management is inadequate, training facilitators lack requisite skills, the duration of the training for SGBs is short, the training programme is not provided frequently, the training programme’s presentation style is ineffective, mismatch between internal records and audited financial statements, lack of support and monitoring by circuit officials in the schools’ financial management, questionable conduct o

Bakgrund: Under 2015 gjordes upphandlingspliktiga inköp för cirka en sjättedel av Sveriges BNP vilket visar på de betydande pengabelopp som upphandlingsförfarandet innefattar. Samtidigt är det också ett stort antal organisationer som är berörda av upphandlingslagstiftningen där bland annat Sveriges sekundärkommuner ingår som en del av organisationerna. Tidigare studier på global nivå har visat på bristande regelefterlevnad gentemot upphandlingslagstiftning men att studera fenomenet i en svensk kontext har inte tidigare låtit sig göras. Det finns därför både samhällsrelevans såväl som teoretisk relevans att studera fenomenet närmare i en svensk kontext. Syfte: Syftet med vår studie är att bidra med ökad förståelse för hur regelefterlevnaden hos svenska sekundärkommuner har sett ut gentemot lagen om offentlig upphandling och dess grundläggande principer. För att öka förståelsen vill vi synliggöra faktorer som har påverkat regelefterlevnaden hos sekundärkommunerna. Metod: Denna studie utförs genom en innehållsanalys med både kvantitativa och kvalitativa inslag. En ansats tillämpas där både positivism och hermeneutik återfinns i olika delar av studien. Gällande empiriskt underlag så bygger det på sekundärdata i form av revisionsrapporter som sekundärkommunerna publicerat. Slutsats: Studiens resultat konstaterar att regelefterlevnaden har varit bristfällig i motsvarande 75 procent av de svenska sekundärkommunerna. De faktorer som påverkat regelefterlevnaden mest har varit interna regler och rutiner, ansvarsfördelning och uppföljning. Motsatsvis har utbildning och kompetens samt förekomst av en central databas ej visat sig ha samma påverkan på regelefterlevnaden., Background: In 2015 procurement affairs were made for about one sixth of Swedish BNP which is pointing at the considerable amounts of money that the procurement procedure involves. Simultaneously there is also a large amount of organizations who are affected by the procurement legislation where secondary municipalities of Sweden is one of these organizations. Earlier studies on a global basis have been providing evidence pointing at lack of compliance towards procurement legislation but studying of this phenomenon in a Swedish context has not previously been done. It is therefore relevant to study this phenomenon closer, both socially as well as theoretically, in a Swedish context. Purpose: The purpose of our study is to contribute to a further understanding of how compliance in secondary municipalities of Sweden have been towards The Public Procurement Act and its basic principles. In order to contribute to this further understanding, we want to make factors visible which have affected compliance in secondary municipalities. Methodology: This study is performed through a content analysis using both quantitative and qualitative elements. An abductive approach is applied were both positivism and hermeneutic can be found in different parts of the study. Regarding the empirical basis it is built up by secondary data which is based on audit reports that secondary municipalities have published. Conclusion: The results of the study indicate that compliance towards The Public Procurement Act have been insufficient in 75 percent of the Swedish municipalities. The factors that have affected the compliance most have been internal rules and procedures, division of responsibility and follow-up of the procurement process. On the contrary, education and competence as well as the presence of a central database have not shown to have the same effect on compliance.

Predmet ovog rada jeste prikaz javno-privatnih partnerstava kao instrumenta za koji se pretpostavlja da bi, ukoliko bi se primenjivao prvenstveno na lokalnom, ali i na višim nivoima upravljanja, omoguéio vlastima u svakoj zemlji brži i kvalitetniji ekonomski razvoj društva. Iskustva moderno uređenih demokratskih društava u decentralizaciji vlasti po principima subsidijariteta i fiskalnog federalizma daju uvid u set mera i principa stvaranja dobrog poslovnog okruženja kao prim amog faktora privlačenja kapitala, a time i opšteg razvoj a države. Javno-privatna partnerstva su kao najsloženiji i najnoviji instrument podsticanja ekonomskog razvoja modemih država od posebnog značaja. Još uvek u fazi razvoja i u primeni u nekolicini najrazvijenijih demokratija, pred ovim složenim instrumentom tek leže pravi izazovi i budućnost. Stoga je cilj ovog rada prepoznavanje važnosti najsloženijeg instrumenata za podsticanje ekonomskog razvoja, a to su javno-privatna partnerstva i njihovo poznavanje u teoriji i kroz primenu u praksi. Ono je od velikog značaja sadašnjim i budućim kadrovima koji rade u javnoj upravi Srbije na svim nivoima. Naučni značaj ove teme j e u sistematskom prikazu i analizi modela javno-privatnih partnerstava. JPP su aktuelna tek od 90-ih godina, zemlje EU tek početkom 21.veka osnivaju posebna tela koja se pri vladama bave JPP, a Evropska komisija je tek 2004. izdala Zelenu knjigu o JPP, koja delimitino defunse i analizira JPP. Iz naučnog proizlazi i društveni značaj ovog rada, a to je bolje razumevanje JPP, podizanje svesti sadašnjih i buduéih kadrova u javnoj upravi o njihovom značaju i spremnosti da u predstojeéim reformama ispravno i kvalifikovano zastupaju interese društva u čije ime rade. Osim kao doprinos teoriji o javnoj upravi, ovaj rad ima veći značaj kao priručnik organima te iste uprave u poznavanju i primeni JPP kao instrumenta kojim se podstiče ekonomski razvoj., This paper focuses on the presentation of public-private partnerships (PPPs) as instruments which are assumed to enable faster economical development of municipalities and the country in total, for the authority of our country, if firstly applied locally, but then also on higher levels of management. The experiences of the modem democratic societies in the area of decentralization of the authority by the principles of subsidiarityand fiscal federalism, enable the insight to the set of measures and the principles of creating the good business environment as the primary factor of attracting investments, and subsequently enabling the general local development. Public-private partnerships are the most complex, and the latest instrument of special importance for encouraging the economic development of modem states. Still in the phase of development and applied in a few the most developed democracies only, this complex instrument is yet to face the real challenges and the future. Therefore the objective of this paper is recognizing the importance of the most complex instrument for encouraging the local economic development, which are the public-private partnerships and the theoretical and practical knowledge about them.This is of the most importance for current and future staff employed in the public administration of Serbia, at all levels. The scientific importance of this paper is the systematic presentation and analysis of the model of the public-private partnerships. PPPs have become more present since the 90’s; at the beginning of the 21st century the EU countries have started forming special government bodiesto deal with PPPs, and the European commission has issued the Green book on PPPs only in 2004, which defines and partly analyses the PPPs. The outcome of the scientific significance of this paper is also the social one: the better understanding of the PPPs, lifting the awareness of the current and future staff employed in the public administration about their si

Bakgrund: Under 2015 gjordes upphandlingspliktiga inköp för cirka en sjättedel av Sveriges BNP vilket visar på de betydande pengabelopp som upphandlingsförfarandet innefattar. Samtidigt är det också ett stort antal organisationer som är berörda av upphandlingslagstiftningen där bland annat Sveriges sekundärkommuner ingår som en del av organisationerna. Tidigare studier på global nivå har visat på bristande regelefterlevnad gentemot upphandlingslagstiftning men att studera fenomenet i en svensk kontext har inte tidigare låtit sig göras. Det finns därför både samhällsrelevans såväl som teoretisk relevans att studera fenomenet närmare i en svensk kontext. Syfte: Syftet med vår studie är att bidra med ökad förståelse för hur regelefterlevnaden hos svenska sekundärkommuner har sett ut gentemot lagen om offentlig upphandling och dess grundläggande principer. För att öka förståelsen vill vi synliggöra faktorer som har påverkat regelefterlevnaden hos sekundärkommunerna. Metod: Denna studie utförs genom en innehållsanalys med både kvantitativa och kvalitativa inslag. En ansats tillämpas där både positivism och hermeneutik återfinns i olika delar av studien. Gällande empiriskt underlag så bygger det på sekundärdata i form av revisionsrapporter som sekundärkommunerna publicerat. Slutsats: Studiens resultat konstaterar att regelefterlevnaden har varit bristfällig i motsvarande 75 procent av de svenska sekundärkommunerna. De faktorer som påverkat regelefterlevnaden mest har varit interna regler och rutiner, ansvarsfördelning och uppföljning. Motsatsvis har utbildning och kompetens samt förekomst av en central databas ej visat sig ha samma påverkan på regelefterlevnaden., Background: In 2015 procurement affairs were made for about one sixth of Swedish BNP which is pointing at the considerable amounts of money that the procurement procedure involves. Simultaneously there is also a large amount of organizations who are affected by the procurement legislation where secondary municipalities of Sweden is one of these organizations. Earlier studies on a global basis have been providing evidence pointing at lack of compliance towards procurement legislation but studying of this phenomenon in a Swedish context has not previously been done. It is therefore relevant to study this phenomenon closer, both socially as well as theoretically, in a Swedish context. Purpose: The purpose of our study is to contribute to a further understanding of how compliance in secondary municipalities of Sweden have been towards The Public Procurement Act and its basic principles. In order to contribute to this further understanding, we want to make factors visible which have affected compliance in secondary municipalities. Methodology: This study is performed through a content analysis using both quantitative and qualitative elements. An abductive approach is applied were both positivism and hermeneutic can be found in different parts of the study. Regarding the empirical basis it is built up by secondary data which is based on audit reports that secondary municipalities have published. Conclusion: The results of the study indicate that compliance towards The Public Procurement Act have been insufficient in 75 percent of the Swedish municipalities. The factors that have affected the compliance most have been internal rules and procedures, division of responsibility and follow-up of the procurement process. On the contrary, education and competence as well as the presence of a central database have not shown to have the same effect on compliance.

Interest in quality is well established within higher education. This paper will critically review the most commonly used definitions of quality: fitness for purpose and value for money. It will point out that these two definitions are important but they ignore the emancipatory power of higher education and the development needs of academics and students. This paper will propose a new understanding of quality as a virtue of professional practice, which can be used as a useful force for individual academics and students to increase their commitment to learning and teaching. A new model of quality evaluation will be outlined as a supportive mechanism to enhance academics’ professionalism and to increase students’ capability to learn.

Interest in quality is well established within higher education. This paper will critically review the most commonly used definitions of quality: fitness for purpose and value for money. It will point out that these two definitions are important but they ignore the emancipatory power of higher education and the development needs of academics and students. This paper will propose a new understanding of quality as a virtue of professional practice, which can be used as a useful force for individual academics and students to increase their commitment to learning and teaching. A new model of quality evaluation will be outlined as a supportive mechanism to enhance academics’ professionalism and to increase students’ capability to learn.

Purpose The aim of the paper is to compare PPP healthcare investments in developed countries with those in emerging economies, analyzing the sustainability issues of health-led growth. Methodology / approach Healthcare PPP best practices in developed nations represent a template that catching up economies may follow with local adaptations. A comparison starts from the UK case and then examines the Turkish experience as an ideal bridge between advanced and developing countries. Findings Healthcare investments are a primary social infrastructure, with a deep impact on poverty alleviation. Demand for the infrastructure necessary to provide healthcare services has increased substantially in developing and emerging economies due to rapid economic growth, industrialization, and urbanization, while public supply is limited by budget constraints. PPP best practices provide a global benchmark. Integrated supply and value chains and management of viability milestone improve healthcare PPP sustainability and bankability. Research limitations / implications Different legal frameworks and funding issues are not thoroughly investigated. Careful customization and local fine-tuning of best practices require further scrutiny. Practical implications Homogenization of best practices improves comparison of different projects, fostering competition and easing cross-border investments, accompanied by knowledge transfer, sharing, and consequent value co-creation. Social implications Best practices improve value for money, bankability and resilience of PPP investments, with potential benefits for healthcare services and quality of life. Originality / value of the paper This paper makes an innovative and comprehensive comparison of healthcare PPP projects around the world, looking for a common denominator of value-enhancing rules and resilient pro-growth strategies.

La futura conexión de las redes de tranvía de Barcelona por la Diagonal plantea la duda sobre cuál es el mejor esquema para llevar a cabo el proyecto. Las recientes experiencias en Asociaciones Público Privadas en mercados OCDE han permitido el desarrollo de guías y casos similares para el estudio de los esquemas de promoción de infraestructuras. El objetivo de este trabajo es evaluar y comparar diferentes posibilidades para desarrollar la unión del tranvía por la Diagonal.

This study reviews the evaluation of capacity development, identifying capacity development (CD) modalities and the schools of evaluation currently in place. The research joins the results agenda debate, arguing that in dealing with CD interventions, pre-defined indicators fail to represent the process and the key elements that take CD recipients toward patterns of change. The study highlights the fact that CD deals with projects that, by their nature (consisting of change processes designed to initiate change in people, organizations, and/or their enabling environment), rely more on non-planned changes than on the pre-defined indicators and results to contribute to livelihood improvements and social transformation. The study recognizes the difficulty of evaluating CD under straightforward mechanisms. It concludes that the existing approaches are not adequate to truly capture or measure impact, as CD projects, restricted by previously agreed budgets, resources, and time frames, are usually not designed to evaluate the sustainability of change and its impact over the medium or long term. As resources are scarce, donor agencies and policy-makers need to know the value of CD in order to best prioritize their investments. However, due to the nature of these projects, measuring the return rate between the project cost and its impact remains a difficult task. There is a need for new, multi-path approaches to capturing changes in capacity in order to serve as a basis for decision-making regarding CD investments.

O instituto das Parcerias Público-Privadas (PPP), concebido des­de os anos 1960 em solo norte-americano, desenvolveu-se sobremaneira a partir dos anos 2000 especialmente no Brasil e em países da Europa. Em Portugal foi institucionalizado em 2003, enquanto no Brasil legitimou-se essa modalidade de contratação a partir de 2004. Este artigo tem como objetivo principal discor­rer sobre a auditoria realizada pelas Instituições Superiores de Auditoria dos citados países buscando efetuar uma comparação no que toca à espécie de controle a priori. Ademais, como objeti­vo secundário, buscou-se demonstrar a importância dos estudos do Value for Money, bem como do Public Sector Comparator no âmbito das contratações através de PPP. Para tanto, utilizou-se como método de estudo a pesquisa em fontes bibliográficas físicas e no meio digital, além da pesquisa jurisprudencial sobre o tema, que juntas tornaram possíveis a revisão da literatura. Como resultado, foi possível inferir que o controle prévio está previsto em ambos os ordenamentos jurídicos, porém em esca­las diferenciadas. Enquanto em Portugal o visto prévio possui o condão de proibir as eventuais contratações irregulares, no Brasil o controle a priori restringe-se à distribuição de recomendações e orientações para a melhoria do processo, tornando, desse modo, o controle prévio mais frágil. Verificou-se, por fim, que no Brasil o foco das auditorias em PPP está voltado para o controle concomitante, conforme disciplina a Instrução Norma­tiva nº 52/2007, do Tribunal de Contas da União.

Las asociaciones público privadas "APP" han sido utilizadas para distribuir riesgos y fomentar el desarrollo de los países a través de la provisión de infraestructura. Así, se implementan para proveer bienes y servicios públicos tanto en los sectores de infraestructura productiva (carreteras, puertos, aeropuertos, trenes), como en el sector de infraestructura social (escuelas, universidades, hospitales, edificaciones públicas, etc.). En Colombia, ante la escasez de recursos públicos y la necesidad de formular posiibles soluciones a la crisis del sector salud, surge como una posible solución el modelo de APP consagrado en la Ley 1508 de 2008., The public partnership program PPP´s is used among a large list of countries around the world. This contractual figure consists on attracting private capital to the private sector, so governments can use that capital to build roads, airports, schools, universities, hospitals and other infrastructure constructions. The Colombian health sector has always had a lot of problems such as corruption and the lack of public investment. The PPP´s arise as a possible solution for this problem and it shows itself as a achievable since the implementation of law 1508 of 2012.

Much of the transportation infrastructure was built in the middle of the 20th century using traditional design-bid-build (DBB) procurement method. Public agencies advertised prescriptive construction documents composed of project plan sets and specifications to be competitively bid by private contractors where the low bidders would then build the infrastructure to the specified design. The award of the contract was based on the lowest price to complete the project to the specified design. Throughout the nation, much of the infrastructure has reached or exceeded its design life. Aging infrastructure in the United States has drawn attention from national politicians to local agencies to the public users themselves. Public transportation demands have increased since those measured in the mid-20th century and used to design the national transportation network. Hence, public agencies are now looking at ways to more effectively maintain, replace, and expand the existing road network to support local economy and road user demands. As agencies attempt to keep pace with these increasing demands, they find themselves challenged to find the necessary resources to accommodate the demand. The constraints range from identifying the necessary public funding to obtaining the required number of qualified public employees. The private sector offers many resources that are needed by public agencies as they work to find solutions to the aforementioned challenges, including providing access to private financing. Public agencies can partner with a private organization through the use of a public private partnership (P3). P3s are contractual arrangements between the public and private to where some of the public service is provided by the private sector. P3s are becoming an attractive option for public agencies. Public agencies are stewards of public dollars and must assess the use of these public dollars are being spent bringing the best value to the communities they serve. The tradition

Предмет докторске дисертације представља истраживање правне природе, основних обележја и специфичности уговора о дугорочној сарадњи државе, јавних предузећа, односно јединица локалне самоуправе и приватних инвеститора у обављању делатности од општег интереса. Истраживање је усмерено на приказ различитих модела сарадње јавног и приватног субјекта, њихових иманентних обележја, предности и недостатака, а све ово у циљу правилног разумевања облика сарадње уговорних страна и адекватног одабира модела који ће, у зависности од околности конкретног случаја, допринети бољој реализацији пројекта, уз пуно испуњење очекивања уговорних страна. Централна пажња у истраживању посвећена је односу уговорних страна, у настојању да се овај однос разуме на начин који одговара његовој правној природи. Иако се у званичним изворима и у литератури однос јавног и приватног субјекта приказује као сарадња, партнерство и синергија, а релације уговорних страна приказују кроз поверење, симетрију и паритет, њихов однос је значајно сложенији, и у пракси се најчешће исказује као диспропорција, неповерење, условљавање и ограничавање. Оваква запажања немају за циљ да се супротставе бројим изворима који сарадњу јавног и приватног субјекта виде у оптимистичним категоријама, већ само и искључиво да допринесу правилном разумевању овог односа, управо у служби реалног поимања позиције уговорних страна у различитим фазама реализације пројекта, односно извршења уговора, успешном преговарању ових пројеката, и коначно, отварању, што је могуће већег, простора за овакву сарадњу јавног и приватног субјекта, пре свега, у циљу повећања конкурентности на националном и међународном тржишту, и добробити крајњих корисника услуга од општег интереса, али и цеколупне друштвене заједнице. Уговори који су предмет ове докторске дисертације су, можда, најкомплекснији, највишеслојнији и најделикатнији уговори који се закључују последњих деценија., The subject of the doctoral dissertation is a study of the legal nature, main characteristics and particularities of agreements on long-term cooperation between the state, public companies or local self-government units and private investors in the domain of services of general economic interest. The study is oriented towards an overview of the various models of cooperation between public and private entities, their specific characteristics, advantages and disadvantages, all with the goal of a proper understanding of the forms of cooperation between contracting parties and appropriate selection of the model which, depending on the circumstances of the concrete case, will contribute to better delivery of the project, and which fully meets the expectations of the contracting parties. The principal focus of the study is on the relationship between the contracting parties, with the aim of this relation being understood in a way that corresponds to its legal nature. Although official sources and literature present the relationship between public and private entities as cooperation, partnership and synergy, and the relations between the parties as trust, symmetry and parity, their relationship is significantly more complex, and in practice it usually appears in the form of disproportion, mistrust, conditionality and restrictions. This observation is not aimed at contradicting the numerous sources which perceive cooperation between public and private entities optimistically, but only and solely at contributing to the proper understanding of this relationship, for the purpose of a realistic comprehension of the positions of contracting parties in different stages of delivery of a project or implementation of an agreement, successful negotiation of such projects, and finally, to the maximum possible extent, to make room for future cooperation between public and private entities, primarily for the purpose of increasing competitiveness on the national and international market

This study examines the unique issues, challenges and risks emergingat the end of a public-private partnership (PPP) concession. The M4 motorway is the first Australian PPP that has reached the end of its concession. The absence of formal guidance on contractual closure created challenges for the partners in interpreting contract ambiguities, and in reaching agreement on the processes needed to close thecontract. These challenges had posed several relational risks, the mitigations of whichwere supported by the relational contract partners developed over the concession term, and their reciprocity and ethical motivations. The reintegration risk emerged in the handback exemplifies the limits of controls designed for legitimacy concerns to resolve coordination problems. The political settlement for value for money wasgestured by lifting the toll after the concession ended. In providing unparalleled empirical evidence against the long-term ‘myths’ of PPPs, the study counters the criticism over PPPs’ impossibilities to handle uncertainties and to transfer risk.

National parks play an important role in countries' quest to attract tourists to generate revenue, to uplift the community and to sustain a competitive advantage. Providing value for money for tourists could confirm this advantage. The perceptions towards value for money may be influenced by a number of factors, people and products. Therefore, the aim of this research was to determine the factors that influence value for money as well as the relationship between travel motives, experience and value for money at a nature-based product. Regarded as one of the most visited national parks in the world, Kruger National Park is one of South Africa's biggest drawing cards for international tourists. To achieve the goal of the study, a survey was conducted during June 2012 and December 2012. 849 usable questionnaires were obtained. The data analysis consisted of three stages, namely factor analyses, correlation tests and, finally, the effect of motives and experience on value for money was determined using structural equation modelling (SEM).The findings suggest strong correlations between these constructs. This article makes a valuable contribution to the industry in terms of literature and knowledge and would assist managers of nature-based products in establishing a competitive advantage.

Value for money is a complex concept and might differ between people, events and industries. The perceptions towards value for money may be influenced by a number of factors. Thus, the aim of this research was to determine the factors that influence value for money as well as the relationship between travel motives and value for money when attending a live music performance. To achieve this goal, a survey was conducted at two Eagles concerts in South Africa. 889 usable questionnaires were obtained. Factor analyses in SPSS were carried out and a regression analysis was used to further analyse the data. Findings from this research entailed four factors concerning value for money: performance quality, ancillary quality, souvenirs and exchange rate. The research further highlighted a strong relationship between value for money and motives, with performance quality (PQ) being the most significant. This study makes a valuable contribution to the industry in terms of literature and knowledge.

Many electricity projects in Asian emerging economies involve private finance using Public Private Partnerships (PPPs) yet problems remain in terms of project initiation, commercial structuring, and financial arrangements. The motivation to pursue previous PPP power projects has been unduly influenced by the ability to attract finance rather than an independent assessment of Value for Money (VfM) of the project and this has skewed decisions regarding the choice of technology, selection of fuel source and overall structuring of the procurement of new power plant projects. This research aims to improve the sustainability of power plant projects delivered in Asian emerging economies via PPPs. A tailor made VfM framework was developed for improving investment sustainability of PPP power projects in Asian emerging economies. It enhances the approach for structuring PPPs to attain VfM outcomes in PPP power projects by consideration of: environmental sustainability, local resources utilization, government guarantees and long term commitment of experienced project consortia. A further investigation involving a two-round Delphi study has been conducted in Indonesia to account for changing project finance markets in Asia post the 2008 global financial crisis. It was found that sustainable outcomes of PPP power projects in Asian emerging economies requires contextual consideration of in country support for project finance, government support, guarantees and enhanced risk allocation that are structured to stimulate international investment and develop a local market for power manufacturing. It has been found that international financiers are attracted more to power projects that adopt renewable energy technologies whilst conventional power plant technologies such as subcritical pulverised coal technology need to rely on finance from regional emerging economies and domestic finance sources. Consideration of power plant emission levels has become a more important factor to attrac

Value for money is a complex concept and might differ between people, events and industries. The perceptions towards value for money may be influenced by a number of factors. Thus, the aim of this research was to determine the factors that influence value for money as well as the relationship between travel motives and value for money when attending a live music performance. To achieve this goal, a survey was conducted at two Eagles concerts in South Africa. 889 usable questionnaires were obtained. Factor analyses in SPSS were carried out and a regression analysis was used to further analyse the data. Findings from this research entailed four factors concerning value for money: performance quality, ancillary quality, souvenirs and exchange rate. The research further highlighted a strong relationship between value for money and motives, with performance quality (PQ) being the most significant. This study makes a valuable contribution to the industry in terms of literature and knowledge.

National parks play an important role in countries' quest to attract tourists to generate revenue, to uplift the community and to sustain a competitive advantage. Providing value for money for tourists could confirm this advantage. The perceptions towards value for money may be influenced by a number of factors, people and products. Therefore, the aim of this research was to determine the factors that influence value for money as well as the relationship between travel motives, experience and value for money at a nature-based product. Regarded as one of the most visited national parks in the world, Kruger National Park is one of South Africa's biggest drawing cards for international tourists. To achieve the goal of the study, a survey was conducted during June 2012 and December 2012. 849 usable questionnaires were obtained. The data analysis consisted of three stages, namely factor analyses, correlation tests and, finally, the effect of motives and experience on value for money was determined using structural equation modelling (SEM).The findings suggest strong correlations between these constructs. This article makes a valuable contribution to the industry in terms of literature and knowledge and would assist managers of nature-based products in establishing a competitive advantage.

This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic and public sector perspective. Both the private and public sector consider risk allocation to be a critical issue with respect to PPPs and VfM generation, although governments adopt a less complex approach to risk measurement. This paper analyses papers, case-studies, and reports concerning VfM from PPPs and concludes that, from an academic perspective, the majority of PPPs do not create VfM (government reports usually reach the opposite conclusion).

Purpose: The purpose of this paper is to study the key influential factors and their impacts on the value for money (VFM) of projects developed through public-private partnerships (PPPs) with an objective to improve the VFM assessment of PPP projects. Design/methodology/approach: This paper has studied the key influential factors and their impacts on VFM of projects developed through PPPs with an objective to improve the VFM assessment of PPP projects. Findings: There are large variations in the VFM of PPP projects in many countries due to a number of factors affecting the setting and attainment of the VFM. This paper has identified the key factors that influence the VFM in PPP projects in Japan and evaluated their impacts on the VFM. Originality/value: Outputs of this study would provide some insights on the improvement in the VFM assessment of PPP projects, in terms of determining a suitable VFM for a particular PPP project in accordance with its specific operational environment, balancing the interests of both public and private sectors, and promoting the participation of the private sector in the timely provision of necessary public works and services. © Emerald Group Publishing Limited.

Purpose: The purpose of this paper is to study the key influential factors and their impacts on the value for money (VFM) of projects developed through public-private partnerships (PPPs) with an objective to improve the VFM assessment of PPP projects. Design/methodology/approach: This paper has studied the key influential factors and their impacts on VFM of projects developed through PPPs with an objective to improve the VFM assessment of PPP projects. Findings: There are large variations in the VFM of PPP projects in many countries due to a number of factors affecting the setting and attainment of the VFM. This paper has identified the key factors that influence the VFM in PPP projects in Japan and evaluated their impacts on the VFM. Originality/value: Outputs of this study would provide some insights on the improvement in the VFM assessment of PPP projects, in terms of determining a suitable VFM for a particular PPP project in accordance with its specific operational environment, balancing the interests of both public and private sectors, and promoting the participation of the private sector in the timely provision of necessary public works and services. © Emerald Group Publishing Limited.

This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic and public sector perspective. Both the private and public sector consider risk allocation to be a critical issue with respect to PPPs and VfM generation, although governments adopt a less complex approach to risk measurement. This paper analyses papers, case-studies, and reports concerning VfM from PPPs and concludes that, from an academic perspective, the majority of PPPs do not create VfM (government reports usually reach the opposite conclusion).

Purpose: The purpose of this paper is to study the key influential factors and their impacts on the value for money (VFM) of projects developed through public-private partnerships (PPPs) with an objective to improve the VFM assessment of PPP projects. Design/methodology/approach: This paper has studied the key influential factors and their impacts on VFM of projects developed through PPPs with an objective to improve the VFM assessment of PPP projects. Findings: There are large variations in the VFM of PPP projects in many countries due to a number of factors affecting the setting and attainment of the VFM. This paper has identified the key factors that influence the VFM in PPP projects in Japan and evaluated their impacts on the VFM. Originality/value: Outputs of this study would provide some insights on the improvement in the VFM assessment of PPP projects, in terms of determining a suitable VFM for a particular PPP project in accordance with its specific operational environment, balancing the interests of both public and private sectors, and promoting the participation of the private sector in the timely provision of necessary public works and services. © Emerald Group Publishing Limited.

This project was a step forward in developing a 'descriptive theory' of contracting in the oil and gas industry that reflects the operating environment in which the project manager operates. This study investigates the existing processes and methods used in establishing contracts which are very often prescriptive, and not always appropriate or optimal for a given situation. This study contributes to contracting effectiveness or optimal contracting in the oil and gas industry.

Collaborative infrastructure projects use hybrid formal and informal governance structures to manage transactions. Based on previous desk-top research, the authors identified the key mechanisms underlying project governance, and posited the performance implications of the governance (Chen et al. 2012). The current paper extends that qualitative research by testing the veracity of those findings using data from 320 Australian construction organisations. The results provide, for the first time, reliable and valid scales to measure governance and performance of collaborative projects, and the relationship between them. The results confirm seven of seven hypothesised governance mechanisms; 30 of 43 hypothesised underlying actions; eight of eight hypothesised key performance indicators; and the dual importance of formal and informal governance. A startling finding of the study was that the implementation intensity of informal mechanisms (non-contractual conditions) is a greater predictor of project performance variance than that of formal mechanisms (contractual conditions). Further, contractual conditions do not directly impact project performance; instead their impact is mediated by the non-contractual features of a project. Obligations established under the contract are not sufficient to optimise project performance.

Construction Management and Engineering, Structural Engineering, Civil Engineering and Geosciences