Value for money (VFM) plays an important role in the aspects of evaluation and decision as one of the core concepts in PPP projects. However, VFM was not properly applied in many past PPP projects in China. In view of the current situation of the PPP projects, a list of 15 critical drivers is obtained through a comprehensive literature review and interviewing method. Then, experienced practitioners were asked to rank the importance of 15 divers. The findings indicate that the most severe driver is reasonable risk allocation. With this information, both public and private sectors can be more aware of how to effectively improve VFM in PPP projects. As a result, appropriate strategies can be put forward to avoid or minimize the likelihood of some problem. By doing so, the application and improvement of VFM system of PPP projects can be more successfully and their further use can be encouraged in China.
展开▼
