The report, Public Private Partnerships: A Clearer View, is the first of its kind to look at the impact of PPPs. It found that almost all of the 16 public sector participants interviewed regarded their PPPs as a success.
Although the private sector has had considerable financial losses, for failing to deliver on time or to agreed specifications, it believes that 'the balance of risk transfer is fair,' according to the report.
'It [the report] suggests that PPPs are being delivered on time and to budget, while traditional public sector procurement still suffers from delay, cost overrun and compromise on initially planned requirements,' said PwC head of PPP/PFI advisory services, Nigel Middleton.
Middleton admitted that the report does not answer all the questions surrounding PPPs. 'But as it is the first study to be based on the experience of those delivering public services at the coal face, we hope it will contribute to a more balanced debate.'
There have also been some unexpected benefits to the public sector. These include improving procurement disciplines, acquiring commercial skills and in some cases sharing in the benefits of re-financing. But many of the benefits continue to go unnoticed.
Source
The Facilities Business
