Best practice report for PFI

What makes a value-for-money PFI project? A new report from the Audit Commission aims to show us. It outlines the national Audit Office's approach to examining the value for money deals under the Private Finance Initiative (PFI).
The report is hoped to dispel commercial bidders concerns that the Audit Office has held back the progression of PFI over the past seven years through rigorous scrutiny of projects.

Sir John Bourn, head of the National Audit Office, hopes that the report will help explain the National Audit Office's approach to auditing these deals which are different to traditional procurement. He believes that this will be of tremendous value to both the public and business community in negotiating PFI deals and in understanding how they are audited.

Assessing the value for money of PFI deals on a systematic basis, the report covers the key value for money issues which arise through PFI deals. It focuses on four key issues which contribute to the negotiation of a good PFI project.

• Setting clear objectives
• Applying the proper procurement processes
• Selecting the best available deal
• Ensuring the deal makes sense

Copies of the report can be obtained from:
The Publications Centre
(Mail, fax and telephone orders only)
PO Box 276
London
SW8 5DT
Telephone: 0171 873 9090
Fax: 0171 873 8200