Private Finance Initiative (PFI) Consultancy
The Private Finance Initiative (PFI) and Private Finance 2 (PF2) were the Government’s preferred methods of delivering infrastructure investment across a wide range of sectors including hospitals, schools and prisons.
In recent years and, since the formation of the Government’s PFI Centre of Excellence – run by the Infrastructure & Projects Authority (IPA) – there has been a focus on providing support for contracting authorities to ensure they have the capabilities, knowledge and tools to manage their PFI contracts effectively. This has led to greater scrutiny on performance and compliance for both Special Purpose Ventures (SPV) and service providers.
As well as seeking to drive improved operational performance, the IPA has estimated that, as of 1 April 2021, there were 551 projects expiring in the period to 2054 (excluding projects sponsored by devolved administrations which are outside the IPA’s remit). Expired projects will be handed back to the contracting authorities.
This is a particular area of focus for the IPA which offers all PFI projects within seven years of expiry an initial expiry health check, with further reviews at Years 5 and 3.
Independent advice on your service provision
Whilst service improvement, however driven, should be seen as a positive process for all stakeholders, the enhanced structured focus required by the IPA has the potential to increase compliance and financial risk to SPV’s and service providers.
Our auditing services can provide you with an independent view on your service provision to mitigate risk and drive continuous operational improvement.
We can review service delivery standards and contractual and statutory compliance status. As well as auditing and technical reviews, we have the expertise to assist clients in managing the output from these activities and operational delivery plans.
Our FM team has in-depth PFI expertise acquired from working with and representing SPVs, infrastructure management organisations, service providers and investors across different built environments including the healthcare, education and custodial sectors on a national scale.
As an independent property consultancy, we will ensure our clients can demonstrate to contracting and project authorities a balanced and detailed solution to verification of service delivery.