PFI PFI

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1 PFI PFI

2

3 PFI 2003 PFI PFI PFI PFI PFI TEL FAX PFI

4 [ 1] PFI i [ 2] PFI i [ 3] PFI ii [ 4] iii [ 5] iv [ 6] v [ 7] PFI v [ 8] vi [ 9] vii [10] vii 1. PFI 1.1 PFI PFI/PPP PFI/PPP PFI VFM PFI PFI PFI PFI PFI PFI VFM 2.1 VFM VFM VFM VFM PSC PFI LCC VFM

5 2.17 VFM VFM PFI PFI PFI PFI PFI PFI 4.1 PFI PFI PFI PFI PFI PFI 5.1 PFI PFI PFI PFI PFI PFI 6.1 PFI 201

6 6.2 PFI PFI (SPC) (SPC) (SPC) PFI 7.1 PFI PFI PFI PFI PFI PFI PFI 8.1 PFI PFI 268

7

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9 1PFI PFI (Private Finance Initiative) PPP (Public Private Partnerships)1999 PFI PFI PFI PFI PFI PFI PFI BOT PFI PFI PFI PFI PFI PFI 2PFI PFI PFI PFI PFI i

10 PFI PFI PFI PFI PFI PFI PFI PFI PFI PFI PFI ML ii

11 PFI PFI PFI PFI PFI PFI PFI PFI * iii

12 PFI : 39 UFJ UFJ ( 5 PFI 2003 iv

13 PFI PFI 7 PFI PFI PFI PFI PFI PFI 1) PFI JAPICNo.90pp v

14 8 PFI VFM PFI vi

15 9 10 Mr. Graham TAYLORMr. Adrian BAXTERMr. Jim FosterHighway Agency, UKMr. Michael WILKINSMr. Robert ROBINSON Standard & Poors, LondonMr. Robert BAIN Leeds UniversityMr. Layth IraniMr. Osamu YagiSumitomo Mitsui Banking Corporation EuropeMr. Atsushi OkudaMizuho Corporate Bank LondonDr. John Carr PriceWaterhouseCoopers, LondonMr. Charales NicolasGeorge KennedyHalcrowMr. David RushtonLaing PFI PFI vii

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17 This

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19 PFI PFI PFI PFI 1), 2) PFI PFI PFI ) PFIPFI ) LRT 5) PFI 6) PFIDBFODesign, Build, Finance and Operate PFILRT PFIPPPPublic Private Partnerships PFI Highways AgencyDBFO % 25 5,000 PFIM25 M1M Partenariat Public-Privé 1

20 8) Public Private Partnership ( Öffentlich Private Partnerschaften) 9) Highways AgencyDBFO 7) A69 Newcastle to Carlisle M1-A1 Motorway Link, Leeds A1(M) Alconbury to Peterborough A417/ A419 Swindon to Gloucester A50/ A564 Stoke to Derby link A30/ A35 Exeter to Bere Regis M40 Junctions 1-15 A168/A19 Dishforth to Tyne Tunnel A1 Darrington to Dishforth* 12/1/ /3/ /2/ /2/ /5/ /7/ /10/ /10/ /2/ * 33, 30 A69 A19 A1-M1 A1 Darrington to Dishforth A1(M) A50/A654 A417/A419 M40 A30/A Highways AgencyDBFO 7) PPI(Private Participation in Infrastructure) PICKO(Private Infrastructure Investment Center of Korea) 2

21 PFI/PPP BOT 10) PPPPUBLIC-PRIVATE PARTNERSHIP 11) PPPBenefits of PPP PFI PFI PFI services sold to the public sector PPPVFM 17% 12) 8 DBFO 15% 13) 10% 10% PFI 10 PFI 15% 12) PFI Highways Agency PFI PFI 3

22 PFI 14) PFIPFIPFI 14) PFI PFI PFI PFI VFM PFI PFI 4

23 1) PFI Vol pp.4-7 2) PFI ) PFIhttp://www8.cao.go.jp/pfi/ 4) PFIhttp:// 5) PFI PFI ) PFIhttp:// 7) Highways Agency An Introduction to DBFO Road Building Projects in the UK,16th October ) French ministry of Public Works, Transport and Housing, Economic and International Affaires Division Financing of Major Infrastructure and Public Service Projects Public-Private PartnershipPresses des Ponts et Chaussées2000 PPP ) PFI JAPIC pp ) BOT pp ) Bing Li and Akintola AkintoyaAn overview of public-private partnership; Akintola Akintoye, Matthias Beck & Cliff Hardcastle: PUBLIC-PRIVATE PARTNERSHIP Managing risks and opportunities-, Blackwell Publishing, ) UK HM Treasury PUBLIC PRIVATE PARTNERSHIPS -THE GOVERNMENT S APPROACH-, Her Majesty s Stationery Office ( 13) UK Highways AgencyValue in Roads, June 2002 ( value_in_roads/011.htm) 14) 12 PFI/PPP ( tohoku.ac.jp/ pfi-jsce/) 5

24 PFI /PPP PFIPPP PFI PFI PFI PPP(Public Private Partnerships) 1997 PFI PPP PPP PFI PFI PPP PFI PFI PFI PFI PFI PPP PPP PFI PFIDraft Value for Money Appraisal Guidance 1) What is PFI?The PFI approach involves the public sector in contracting to purchase quality services, with defined outputs, from the private sector on a long term basis, and including maintaining or constructing the necessary infrastructure so as to take advantage of private sector management skills incentivised by having private finance at risk. PFI PFI PFI PFI PFI PFI 6

25 PPP 2) PPP GOCO(Government Owned Contractor OperatedOut Sourcing, Contract out Asset SalesWider marketssales of businessespartnership companiesprivate Finance initiativeservices sold to the public sector / Financially free- standing projectsconcessions and FranchisesJoint VenturesPartnership investmentspolicy Partnerships PPP3), 4), 5) ConcéssionAffermageGérance Régie IntéresséeMETPMarche d Entreprise de travaux public PPP : Prud homme (2000), 6) PPP 7) Buy-Build-OperateBuild-Own-OperateBuild-Own-Operate-Transfer (BOOT) Build-Transfer-Operate (BTO) Joint VentureLease-Develop-OperateAlliance Contracts Barter ArrangementsGovernment Office Space LeasesLong-term Service Provision Contracts 7

26 8) ContractingNPO PPPPPP 8) PPP 8) PPP The remainder of this chapter sets out different broad types of partnerships and the opportunities and challenges posed by each. There is clearly some overlap, with a number of existing PPP projects fitting into more than one category and some of the same opportunities an d challenges apply to a range of PPP types. Prud homme 5) Prud hommeppp 5) 8

27 Valéry Li and Akintoya 9) PPP PPPPUBLIC-PRIVATE PARTNERSHIP 9) PPP PFIConcession Joint Venture Ownership Long-term Private involvement increasing Short-term Partial Asset usage Service Alternative contract Leasing Joint ventures Concession Privatization PPP models PPP models and private sector involvement level 9) 9

28 PPP PFI PFI PPP PPP PPP PPP PFI PFIPPPPrivate Finance Initiative Draft Value for Money Appraisal Guidance PPP/PFI PPP/PFI 10

29 BOT/BTO/BOO/LeaseBack SPC unitary payment 1) HM TreasuryDraft Value for Money Appraisal Guidance, February 2004 ( _keydocs_vfm.cfm) 2) UK TreasuryPUBLIC PRIVATE PARTNERSHIPS: THE GOVERNMENT S APPROACH (2000) 3) PPP/PFI ) ) Rémy PRUD HOMMEA Draft Typology of Public-Private PartnershipFrench ministry of Public Works, Transport and Housing, Economic and International Affaires Division Financing of Major Infrastructure and Public Service Projects Public-Private Partnership Presses des Ponts et Chaussées2000) PPP

30 6) ) NSW Government: Working with Government Private Financing of Infrastructure and Certain Government Services in NSW A Public Discussion Paper, November ) PPP PPPPublic Private Partnership: ) Bing Li and Akintola Akintoya: An overview of public-private partnership; Akintola Akintoye, Matthias Beck & Cliff Hardcastle: PUBLIC-PRIVATE PARTNERSHIP Managing risks and opportunities-, Blackwell Publishing,

31 PFI/PPP [] PFI PFI PFI PFI PPP PFI PFI PFI [] PFI ( ) () () PFI 13

32 PFI PFI [] PFI BTOBOTBOO PFI NPV0 N Y VFM0 NPV N Y PFI PFI NPV PFI PFI NPV VFM PFI VFM LCC PFI PFI DBO VFM 14

33 PPP PFI 1.2 PFI 7.6 PFI PFI PFI PFI PFI [] PFI PPP PFI PFI [] 1) PFI PFI 15

34 PFI VFM VFM [ ] PFI VFM(Value for Money) VFM VFM PFI VFM VFM VFM VFM VFM PFI VFM [] VFM PFI VFM [] PFIVFM 1) PPP PUBLIC-PRIVATE PARTNERSHIP 2) PPPBenefits of PPP 4 VFM Highways AgencyVFM bargaining 16

35 PFI VFM Highways Agency VFM PFI PFI PFI SPVVFM Green Book 3) [] X 4) PFI VFM VFM VFM VFM PFI 5) VFM 6) 2.19 VFM VFM [] VFM PFI VFM VFM 17

36 [] 1) HM Treasury Taskforce Private FinancePartnerships for Prosperity The Private Finance Initiative1997 PFI ) Akintola AkintoyeMatthias Beck & Cliff HardcastlePUBLIC-PRIVATE PARTNERSHIP Managing risks and opportunities-blackwell Publishing2003 3) KPMGReport on identifying and measuring the differential tax receipts from Private Finance Initiative schemes for the purpose of economic evaluation against a Public Sector ComparatorHM TREASURY2002 4) ) Vol.27 CD-ROM2003 6) PFI VFM Vol.27CD-ROM ) VFM

37 PFI [] PFIVFM PFI 1) [] 2), 3) 5 PFI [] Highways Agency 30 PFI PFI 4) [] PFI 19

38 / Design BuildDBFO Partnering ) ) 20

39 [] PFI PFI Highways Agency PFI PFI PFI PFI [] PFI 6) [] 1) VFM ()2003 2) ) ) Highways AgencyValue for Money Manual1995 5) UK National Audit OfficeDepartment of Transport: Contracting for Roads1992 6) PFI PFI

40 PFI VFM [] PFI VFM 1.7 [] PFI / 30 / 60 1) ) PFI [] PFI Payment PFI PFI PFI PFI 22

41 PFI PFI PFI PFI PFI PFI P F I PFI 3) PFI PFI PFI PFIPFI Payment PFI PFI PFI PFI PFI 23

42 PFI PaymentPFI PFIPayment PFI PFI PFI [] VFM NAOPFIVFM 1.6-1PFI 4) PFI PFI IT PFIDartford ETC 5) Fazakerley 6) DBFOM40 Fazakerley 6) 24

43 PSC VFM VFM West Middlesex Hospital The new Dartford and Gravesham hospital Falkirk % Balfron % Glasgow % West Lothian % Edinburgh % NAO: The PFI Contract for the Redevelopment of 4% West Middlesex Hospital, NAO: The PFI Contract for the new Dartford and 3% Gravesham hospital, 1999 *1 Audit Scotkand: Taking the Initiative Using PFI to Renew Council Schools, 2002 Highland % NAO: The Private Finance Initiative: the Contract to A74(M)/M % Complete and Operate the A74(M)/M74 in Scotland, 1999 M1-A % NAO: The Private Finance Initiative: The First Four A1M % Design Build Finance and Operate Roads Contracts, A419/A % 1999 *2 A % Bridgend % NAO: The PFI Contracts for Bridgend and Fazakerley % Fazakerley Prisons, 1997 MOD main building (748.5) % NAO: Ministry of Defence: Redevelopment of MOD main building, 2002 *3 The New British % NAO: The New British Embassy in Berlin, 2000 Embassy in Berlin NAO: The PRIME Project: the Transfer of the The PRIME Project % Department of Social Security Estate to the Private Sector, 1999 *4 Non-Combat Vehicles NAO: The Procurement of Non-Combat Vehicles for 23% the for the Royal Air Force, 1999 the Defence Fixed NAO: The Private Finance Initiative: The Contract Tele- communications System % for the Defence Fixed Telecommunications System, 2000 *4 IT the National Insurance Recording System % NAO: The Contributions Agency: the Contract to Develop and Operate the National Insurance Recording System *5 NAO: National Savings: Public Private Partnership with Siemens Business Services, 2000 NAO: Public Private Partnerships: Airwave-Police Radio System, 2002 Airwave-Police Radio 1,610 1,470 9% System *1: NAO PSC *2: PSC PSC Halcrow *3: VFM PSC mid-point 748.5m *4: PSC *5: VFM 59 : IPPR: Audit reports on value for money in the PFI, ) [] PFI PFI PFI 25

44 [] 8) 9) DBFO DBFO 10) VFM A69 11) PFI [] 1) BTO PFI 2) 3) 4) Payment PFI 5) PSC VFM VFM 6) Highways Agency PFI PFI [] 1) ( 2) ( 3) PFI No ) NAOPFI: Construction Performance2003 5) Dartford River Crossing HP ( 6) NAOThe PFI Contracts for Bridgend and Fazakerley Prisons

45 7) IPPRAudit reports on value for money in the PFI2002 ( ble.doc) 8) 1999 ( 9) () ( 10) Highways AgencyDBFO - Value in Roads ) NAOThe Private Finance Initiative: The First Four Design, Build, Finance and Operate Roads Contracts

46 PFI VFM PFI PFI PFI 23 1) 28

47 PFI PFI PFIPFI PFI Fast Track PFIPFIPFI PFI PFI PFI PFI PFI PFI PFI PFI PFI PFI PFI 29

48 PFI PFIPFI PFIPFI affordability PFI PFI ) PFI PFI PFI PFI Fast Track PFI CarlisleMillbankA74(M)/M74 DBFO PFI ) BOT 40,000US$ ) Skye Bridge ) Highways Agency 8 DBFOPFI 30

49 PFI PFI PFI Highways Agency PFIHighways Agency DBFO 6) PFI 7) PFIPFI PFI PFI PFI PFI PFI PFI Fazakerley Bridgend 25 Lowdham Grange 8) PFI Highways AgencyEarly Design Build PFI 31

50 9), 10) 11) PFI 12) PFI PFI 1999 (1) (2) ) PFI PFI 32

51 VE PFI 1) 2000 ()2000 2) PFI 3) NAO The Private Finance Initiative: The Contract to Complete and Operate the A74(M)/M74 Motorway in Scotland1999 4) () ) NAOThe Skye Bridge1997 6) PPP ()2004 7) PFI ) Private Finance PanelReport on the procurement of custodial services for the DCMF at Bridgend and Fazakerley1996 9) ) ) () ) ( 13) 15 7 ( 33

52 PFI PFI [] PFI PFI PFI [] VFM PSC PSC PSC ) [] PFI 34

53 2) PFIPSC ABC(Activity-based Costing) 3) [] PFI PFI PSC PFI 35

54 PFI [] 1) ) Vol.27CD-ROM )

55 ( PFI VFM

56

57 VFM VFMPSCPFI LCC VFM(Value For Money)PFI PFI VFM PFI VFM VFM VFM VFMVFM VFM VFM PFI VFM VFM (Best Value) PFI VFM VFM VFM PSC PFI PFI LCC PFI LCC PSC PFI VFM PSC PFI LCC PSC VFMPSCPFI LCC VFM=(PSC-PFI LCC)/PSC100% VFM PSC PFI LCC VFM VFM VFM PSC PFI LCC 37

58 2.1-1 PSC PFI LCC VFM VFM VFM VFM VFM PFI PFI VFM PFI PFI PFI VFM LCC VFM PFI VFM PFI VFM VFM VFM VFM PFI VFM VFM 38

59 VFM VFM VFM PFI VFM VFM PFI VFM VFM VFM PFI PFI VFM VFM PFI VFM 39

60 VFM VFM PFI VFM VFM PFI VFMTreasury Taskforce VFM Treasury Taskforce:"Value for Money Drivers in the Private Finance Initiative-A Report by Andersen and Enterprise LSE"2000 2) VFM VFM VFM VFM VFM 1) VFMValue For Money ) Treasury TaskforceValue for Money Drivers in the Private Finance Initiative-A Report by Andersen and Enterprise LSE2000 3) PFI PFI VFM

61 VFM VFM PFI VFM VFM VFM VFM VFM PSC PFI PFI LCC VFM PFI VFM PFI PFI VFM PFI BOT PFI PFI LCC PFI PFI VFM 41

62 PFI PFI VFM PSC PFI LCC VFM VFM VFM VFM PSC VFM PSC PFI LCC PFI PFI PSC PFI PFI LCC 1) VFMValue For Money ) PFI PFI VFM ) PFI PFI

63 VFM VFM VFMVFMPSC PFILCCPFI PSCPFILCCVFM PFI VFM PFI Financially Free Standing (Services Sold to the Public Sector) (Joint Venture) PFI Financially Free Standing Joint Venture Services Sold to Public Sector PFI 2 43

64 PFI PFI 2 3 PFI PFI 3 VFM PSC PFI LCC PFI IRR 3 VFM PSC PFI PFI VFM PFI PFI LCC VFM 1) VFMValue For Money ) PFI ) Treasury TaskforcePublic Sector Comparators and Value For MoneyPolicy Statement No ) PFI

65 VFM PFI VFM VFM VFM VFM VFM VFM VFM VFM VFM PFI PFI VFM VFM PFI LCCPFI LCC LCCPSC VFM VFM VFM PSC PFI LCC VFM VFM VFM VFM PSC VFM PFI PFI VFM 45

66 PFI VFM PFI VFM PFI VFM PFI VFM VFM PFI VFM PFI LCC PFI PSC VFM PSC PSC VFM PSC VFM VFM PFI VFM 1) PFI ) VFMValue for Money

67 VFM 1) VFM ) H M TreasuryThe Green Book3) Green Book )

68 PFI VFM The Green Book SPC 1) ) Stiglitz, J. E.: Economics of the Public Sector (3rd Ed.), ) HM Treasury: The Green Book, Appraisal and Evaluation in Central Government, ) Vol.27CD-ROM

69 PSC PSC PFI VFM PSC PFI PSC PSC PSC 49

70 PSC PSC 1VFMValue for Money PFI ()

71 PSC LCC PSC PFILCC () () ( ) () () (PSC )

72 PSC 1) 16 ()

73 PFI PSC VFM PSC

74 2.8-2 () : 13 2 ()() PFI 1) ) 13 54

75 VFM PSC PSC PSC VFM PSC PSC PSC PFILCC PFILCC PSC PFILCC PFILCC 55

76 PSC 1) PSC VFM PSC PFI PSC PSC PFI PFILCC 2) PSC PSC PFI 1) )

77 PFI LCC VFM PSC PFI LCC PFI VFM PSC PFI LCC PFI LCC () PFI LCC No PFI PFI PSC PFI SPC SPC PFI VFM () 57

78 No PFI ( )PSC BOT BOT/BTO BOT PFI PSC PFI VFM % PFILCC PFI VFM ( ) PFI PFI LCC PFI 58

79 () 80 ( 50) PFI 100PFI PFI PFI LCC LCC PFI_LCC () PFI () PFI PFI PFI () 59

80 PFI 1) 2) VFM 15 6 VFMValue For Money ) PFI () 60

81 IRRDSCR VFM PFI LCC PFI LCC VFM VFM PSCPFI LCC PSC PFI LCC PFI VFM PFI LCC PSC PFI LCC PFI LCC IRR DSCR PFI VFM 15 6 VFM VFM PSCPFILCC VFM VFM PFIVFM IRREIRRDSCR LLCR 61

82 PFI PFI BOT PFI PFI 63 PFI PFI 15 PFI IRR DSCR PFI PFI PFI 23 1) VFM ) PFI PFI VFM ) PFI ) VFMValue For Money ) PFI ) PFI ) PPPPFI

83 VFM 16 3 PFI 146 VFM VFM PFI VFM PFI VFM PFIPPP PFIPPP PFI VFM PSC 28 PFI LCC VFM VFM VFM VFM 25 9 VFM VFM2 VFM VFMVFM 15 6 VFM 63

84 PFI VFM 64

85 PFI VFM 65

86 PFI VFM PPPPFI

87 VFM PFI PFI LCC PFI VFM VFM PSC PFI LCC VFM VFM PSC PFI LCC VFM PSC PFI LCC PFI VFM VFM VFM PFI PFI LCC PFI LCC PSC VFM PFI 67

88 PSC PSC VFM PSC PFI VFM PFI LCC IRR DSCR VFM 1) PPPPFI ) VFMValue For Money ) VFM 15 6 PFI ) PFI

89 VFM PSC PFI LCC VFM (2) PSC PFI LCC VFM PFI BTO 20 69

90 VFM JAPIC 60 BTO VFM BTO PFI PFI PFI PFI VFM VFM VFM VFM VFM 0VFM 0 VFM 0 PFI X VFM winwin JAPICVFM 0 56VFM 0 5 VFM PFI PFI Competitive Neutrality Policy1997 PFI 1) PFI ) PFI ) State Government of VictoriaCompetitive Neutrality

91 PSC PFILCC PFI PSC () PFI PSC PFILCC VFM 2.7 PSC PFI PFI PSC 71

92 PFI PFI () - PFI - PSC - - 1) ) PFI

93 PFI PFI PFI PFI P FI VFM PSC PFI LCC PFI PFI PFI PFI VFM PFI LCC PFI PFI PFI PFI PFI PFI PFI PFI 1) BOOBOT 20 LCC 113 PFI 34 LCC PFI 23 BTO BOT PFI 32 LCC 73

94 PFI PFI VFM BTO PFI BOT BTO PFI PFI PFI PFI PFI 10 PFI PFI VFM 348 PFI ) PFI Vol.27CD-ROM

95 PFI VFM [] PFI PFI PFI PFI PFI PFI VFM VFM [] VFM VFM VFM VFM VFM VFM 1) VFM VFM VFM VFM VFMVFM PFI PFI PFI CPM (Critical Path Method) 75

96 PFI VFM VFM PFI B/C<1 PFI B/C>1 PFI VFM VFM VFM ) VFM VFMVFM VFMVFM VFMVFM PFIJVPFI PFI N PFI t PFI 0 K N 1 PFI T T + K + k T + N 1 PFI T k PFI N N N T T 0 K+k K+k K T+K+k T+K+k K T+N-1 T+N-1 N-1 t b1t b2t b4t t c1t c2t c4t 76

97 )VFM PFIVFMVFM ++ 2 b 2t c 2t T + N + k + [( ) ] 1 k T b2t c2t VFM ++ = VFM + 1+ r 1 NPV2 + t k 1+ r t= T + N ( ) T NPV NPV VFM VFM VFMVFM PFI VFM [] PFI PFIVFM (2003)VFM VFM VFM VFMVFM VFMVFM VFMVFM PFI [] [] 1) VFMValue For Money ) PFI VFM Vol.27CD-ROM

98 VFM PFI PSC PFI PSC VFM PFILCC PFI VFM PSCPSC PSC Highways Agency 25 PFILCC PSC PFILCC 78

99 PSC PFI PFI VFM PSC PSC LCC 1) 2) VFMValue For Money

100 PFI VFM PFI [] VFM Treasury Taskforce VFM VFM VFM VFM PFI PSCPublic Sector Comparator PFI Treasury Taskforce: Value for Money Drivers in the Private Finance Initiative, 2000 VFM 18 PFI

101 PFI [] PFI PFI PFI [] [] 1) Treasury TaskforceValue for Money Drivers in the Private Finance Initiative-A Report by Andersen and Enterprise LSE2000 2) David VoseRisk Analysis A Quantitative Guide, John Wiley & Sons ) The Institution of Civil Engineers and Faculty of Actuaries and Institute of ActuariesRisk Analysis and Management for ProjectThomas Telford1998 4)

102 VFM VFM VFM 3 VFM VFM PFI VFM VFM 1) VFM 2) VFM VFM 1) PFI 2) 3) VFM VFM PFI PSCPFILCC VFM PFI PFI PFI SPC VFM VFM VFM PFI SPC PFI VFM VFM PFI VFM 82

103 VFM VFM VFM VFM PFI VFM PFI PFI DBFO PFI SPC PFI SPC 83

104 SPC SPC PFI 3) VFM VFM DBFO PFI VFM VFM VFM 1) VFMValue For Money ) PFI PFI VFM ) PFI VFM Vol.27CD-ROM

105 PFI

106

107 ) PFI PFI PFI PFI PFI VFM VFM PFI

108

109 PFI PFI PFI PFISpecial Purpose Company, SPCPFI PFI PFI 87

110 PFI PFI PFI PFI PFI PFI SPC 1) ) : No pp ) PFI ) PFI PFI ) PFI ) ) PFI Vol

111 PFI PFI 89

112 90 VFM PFI PFI H

113 ) 2.5 2) ) 3.8 ISMInterpretive Structural Modeling

114 3.2-1 ISM PFI PFI

115

116 15 PFI 1) PFI ) PFI PFI ) Vol )

117 PSCPFILCC 2.2 VFM PFI VFM SPC PFI BOT 95

118 Avoidance Abatement Retention Transfer VFM PSC 96

119 3.13 VFM ) PFI ) BOT Vol.8No

120 PFI PFI PFI 3.1 PFI PFI PFI

121 PFI PFI PFI 100 PFI PFI

122 PFI PFI 100 PFI PFI 100 AT 100

123 1) 3.3 1) PFI ) No.693 VI ) PFI

124 PFIPFI PFI PFI PFI Treasury Taskforce PFI VFM PFI PFI PFI PFI

125 3.5-1 PFI BTO Kirklee A B PFI Skye 30 Eastern Distributor 5 A$ DBFO CPI RPI 103

126 3.5-1 SHT ( ) QEmax20 max27, max30 M2 IRR max45 Melbourne City Link CPI Case1: Case2: Case3: DBFO LRT A:, B:, C:, D: DBFO Dockland LRT 104

127 PFI PFI 1) Treasury Taskforce"Value for Money Drivers in the Private Finance Initiative-A Report by Andersen and Enterprise LSE2000 2) PFI PFI ) NAOThe Skye Bridge1997 4) RTAEastern Distributor Summary of contracts1998 5) Highways AgencyValue in Roads1997 6) Sydney Harbour Tunnel 7) PICKO 8) The Institution of Civil EngineersSecond Severn Crossing1997 9) M2 10) TransurbanMelbourne City Link 105

128 PFI PFI PFI PFI PFI PFI BOT DBFO VFM PFI 106

129 3.6-1 DBFO UK Tn.Aus Br.UK A13DBFO UK R R Q Q R R Q Q PFI SPC

130 BOTPFI PFI DBFO Q R R Q

131 PFI VE 1) M6 Toll 2) Shoji.Y(2000) 3) 1) PFI ) Shoji.YTheoretical Analysis on Traffic Volume Risk in PFI Transport Projects,

132 1 PFI PFI [] [ ] 2) PFI ) PFI 110

133 PFI CAT 111

134 PFI 4) % 5) gal

135

136 PFI 114

137 PFI PFI PFI 1) 2) PFI ) 4) PFI )

138 PFI PFI VFM SPC PFI PFI PFI PFI PFI PFI PFI PFI PFI BOT PFI PFI 116

139 PFI PFI TUPE Transfer, Undertaking and Protection of EmploymentPFI 2000 PFI PFI SPC PFI SPC BOTBTOJV BOT SPC 3 FEM 1) PFI )

140 PFI 2.1 PFI VFM PFI PFI VFM PFI PFI PFI PFI VFM PFI VFM 118

141 P-I : probability-impact score 1), 2) probability impact NIL (0) VLO (0.05) LO (0.15) MED (0.25) HI (0.35) 119 VHI (0.45) VHI (0.8) HI (0.4) PI 1.0 MED (0.2) PI 1.0 LO (0.1) VLO (0.05) PI 0.05 NIL (0)

142 PSC PFI-LCC PFI PFI-LCC PFI 1-5) 120

143 Excel 90 PSC PSC PSC PFI PSC PFI-LCC

144 1) 911 2) 3) PERT 4) 5) Palisade BestFitRISK Decisioneering Batch FitCrystal Ball 6) Palisade RISK Decisioneering Crystal Ball 1) David VoseRisk Analysis A Quantitative GuideJohn Wiley & Sons ) PMBOK

145 PFI PFI VFM VFM VFM VFMVFM PFIVFM VFM PFI PFI VFM VFM PFI PFI PFI VFM PFI PFI 123

146 PFI PFI PFI PFI / PFI PFI PFI VFM VFM PFI PFILCCPSC VFM=PSC-PFILCC VFM

147 VFM VFM VFM VFM VFM VFM VFM VFM VFMPr[VFM>0]VFM 10 Pr[VFM>10] Value at Risk VFM VaR Pr[VFM>x]=90 x 90 VFM x Distribution for VFM VFM VFM=9.11 Pr[VFM>10]=75 95 VaR= VFM VFM VFM VFM VFM PFI PFI IRR: Internal Rate of ReturnNPV: Net Present ValuerIRRNPV IRR NPV IRR> NPV>0 IRR= NPV=0 IRR< NPV<0 125

148 IRRVFMIRRNPV IRRNPV IRR NPV IRR1 2%IRR 10 DSCR DSCR 1.0 DSCR>1.0 DSCRDSCR DSCR DSCR ) VFM NPVDSCR ) / // - 126

149 * PERT * 3) PERT (Availability) (Representativeness) (Adjustment and Anchoring) 127

150 ) χ K-SK-S A-D 3) Ball PFI PFI 1)3.9 3) 2) 10VFMPSC-PFILCC/PSC VFM PFILCC PSC VFM 10 3) RISK BestFit Crystal Ball Batch Fit 1) PFI ) VFM 1 VFM ) David VoseRisk Analysis - A Quantitative Guide-John Wiley Sons ) )

151 PFI PFI , 0, Crystal Ball

152 =0.6 =0.6 1) y=ax+b y=triang(-0.28x+57, -0.46x+74.5, -0.42x+88) : y=normal(-0.46x+74.5, 8.16) y=uniform(-0.28x+57, -0.42x+ 88)

153 PFI {},{ } ( a11, a12, p11, p12 ) ({ a21, a22},{ p21, p22} ) = { } { } + = ({ a11 + a21, a11 + a22, a12 + a21, a12 + a22},{ p11 p21, p11 p22, p12 p21, p12 p22}) = p p ( a + a ) + p p ( a + a ) + p p ( a + a ) + p p ( a + a ) ( a11, L, a1 m, p11, L, p1 m ) ({ a21, L, a2n},{ p21, L, p2n} ) ({ } { }) { } { } 1 i 1 i a 2 j p 2 j = a 1 i + a2 j p1 ip2 j i = + { } { } ( ) ({ } { }) ( L L ) = a, p +,, = 1,, n; j = 1,, m = m n p1 ip2 j( a1 i + a2 j) i= 1 j= m m m m ( aij, p ), ( 1,, ) i ij a i ij p i ij j L i i ni i= 1 i= 1 i= 1 = = = n1 nm m m = L pij a i ij 1 i j = jm = i= i= { } { } 131

154 f1( x1) f2( x2) f ( ) ( ) = ( ) ( ) f x f x x f x dx [ ] = ( ) = ( ) ( ) E x xf x dx xf x x f x dx dx n f,, 1 x1 fn xn ( ) L ( ) f ( ) x x n f x f x x f x f x dx dx L ( ) = L ( ) L ( ) 1 i 2 2 n n 2 n i= 2 n E[ x] = xf ( x) dx= x f x f2 x2 fn x L 1 x i L n dx2l dxndx ( ) ( ) i= 2 132

155 Excel Palisade Risk Decisioneering Crystal Ball Crystal Ball 2) 1) David VoseRisk Analysis - A Quantitative Guide -John Wiley Sons ) Alfredo H-S. Ang and Wilson H. TangProbability Concepts in Engineering Planning and Design ProbabilityJohn Wiley Sons

156 PFI PFI PFI PFI

157 No * L D C I *L(Risk Level) D(Dependence) C(Controllability) I(Impact)

158 L (Risk Level) D ( Dependence) C (Controllability) I ( Impact) % No / A B C D = B x C E = A + D F (%) G = E x F 136

159 No () / () () () A B C D = B x C E = A + D F G = E x F 1 855, , ,000 2 TBM 7 46, , , , , ,259 1,639,887 2,063, , TBM 30 46,073 1,382,190 1,382, ,438 TBM ,073 4,607,300 4,607, , , , , ,000,000 1,000, ,000 8 TBM , , , ,627 11,447,287 1,978,697 3,664,

160 Value at Risk )

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162 ESIMATED TOTAL BID MARGIN (BID TOTAL) (BUILDERS CLAIMSDETAILS) 8 DESIGN CHANGE INDUSTRIAL GROUN COND ACCESS CHANGE SITE ALLOWANCE RISE & FALL8% AUST CHANGE OTHER CLAIM 7 (BID TOTAL) (PROBABILITY FACTOR)(BUILDING CLAIM TOTAL) N =19.50 (BID TOTAL) N1. 0 (CONTRACT COST) 15.7 BOT 11 SPC 3.8 [] win-win 140

163 [] PFI [] 1) PFI ) BOT Vol.8 No

164 PFI PFI PFI PFI 142

165 143 3)

166 1Highways AgencyValue for Money Manual ) PFI PFI

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170 PFI H12.12PFI PFI PFI PFI PFI PFI PFI Benefit Cost PFI PFI PFI PFI PFI PFI 146

171 VFM PFI IRR DSCR PFI VFM PFI PFI VFM VFM VFM PFI 147

172 PFI LCC PFI VFM LCC [ PFI VFM 2030 PFI PFI 30 PFI PFI PFI

173 PFI PFI 30 () 2/3 PFI LCC LCC LCC 149

174 30 LCC () DBFO 30 VFM PFI VFM LCC PFI ( ) LCC 150

175 BOTBTO PFI BTOBuild-Transfer-Operate BOTBuild-Operate-Transfer BOTBTO PFI PFI PFI PFI

176 PFI BTO BOT BTO BOT PFI BTO VFM BTO BOT 206 BTOBOT PFI PFI PFIBOT PFIPFI PFI BOT PFI BTO PFI 13 BTOBOT PFI PFI PFI 152

177 4.3-1 BTO BOT BTO BOT PFI PFI PFI PFI PFI PFI 13 1) PFI BOT (Build-Operate Build -Transfer Operate Transfer BTO(Build-Transfer- Build Operate TransferOperate BOO BuildOwn Build-Own-Operate Operate BLT Build (Build-Lease-Transfer Lease Operate ROT(Rehabilitation BOT BuildRehabilitation Operate Transfer OperateTransfer DBFO PFI Design (Design-Build-Finance BuildFinanceOperate -Operate 2) PFI BOT PFI 1) ( 2) PFI2001 3) PFI

178 PFI PFI PFI [] PFI PFI PFI PFI ) PFI ) ) ) ) ) ) )

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190 PFI PFI PFI 166

191 VFM

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195 PFI PFI PFI PFI 10 PFI 10 PFI

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199 PFI PFI PFI PFI PFI VFM PFI 175

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201 PFI DBFO DBFO 3 25% PFI 177

202 VFM 1 178

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206 182

207 PFI

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210 SPC+ PFI PFI PFI PFI SPC SPC PFI PFI PFI SPC+ PFI PFI PFI SPC SPC PFI PFI PFI SPC PFI PFI PFI SPC+ SPC PFI PFI PFI SPC+ 184

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212 PFI VFM 186

213 PFI PFI PFI PFI PFI PFI PFI 187

214 PFI PFI PFI PFI 188

215 PFI [] PFI SPC(PFI ) [] PFI SPC SPC PFI 10 [] SPC SPC BOT PFI 189

216 PFI PFI PFI PFI [ ] PFI PFI PFI PFI PFI proven technology proven technology 190

217 [] 3.8 [] 191

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219 5.4-1 ) FA FA ) FA ) PFI PFI PFI PFI PFI PFI PFI PFI PFI 193

220 PFI PFI PFI PFI PFI 194

221 PFI defaultpfi PFI PFI 195

222 SPC SPC Direct Agreement SPC SPC PFI Step-in PFI SPC PFI 196

223 PFI SPC PFI 1) ) ) PFI ) PFI21 pp

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226 200

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238 PFI PFI PFI PFI PFI PFI PFI PFI PFI PFI ( 1 ) PFI PFI 210

239 3 PFI PM PM PM 211

240 PFI PFI PFI PFI PFI PSC PFILCC PFI PSCPFILCC VFM PFILCC 212

241 HP PFI PFI PFI PFI PFI PFI 213

242 PFI PFI PFI PFI PFI PFI PFI

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246 PFI SPC 218

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