Sustainability performance measurement framework for PFI projects in the UK
Journal of Financial Management of Property and Construction
ISSN: 1366-4387
Article publication date: 4 November 2013
Abstract
Purpose
The relationship between sustainable development and private finance initiative (PFI) procurement systems is clarified, and the current debate on the effectiveness of PFI in the UK and the benefits of PFI to deliver sustainable construction is reviewed. The study develops a sustainability assessment framework encompassing environmental, economic, social and technical aspects through the life cycle of the procurement process. The paper aims to discuss these issues.
Design/methodology/approach
A comprehensive literature review develops a conceptual sustainability performance indicators framework. A national questionnaire survey measures existing PFI projects' sustainability performance level.
Findings
The study provides empirical insights about key performance indicators of sustainable PFI project development and a benchmarking for existing PFI project performance measurement. It suggests that successful sustainable PFI projects should integrate technical aspects into the traditional three dimensions sustainability model and achieve a balance between social and economic performance.
Research limitations/implications
Because of the chosen research approach, the research results may lack in-depth analysis of individual projects. Therefore, researchers are encouraged to test the framework further.
Practical implications
The sustainability indicator framework proposed in this paper is readily applicable in PFI projects, as well as other types of PPP projects.
Originality/value
This paper fulfils an identified need to study how the sustainability performance levels achieved could be effectively measured within PFI/PPP projects; while contributing to the debate on benchmarking and measuring sustainability performance in construction.
Keywords
Citation
Zhou, L., Keivani, R. and Kurul, E. (2013), "Sustainability performance measurement framework for PFI projects in the UK", Journal of Financial Management of Property and Construction, Vol. 18 No. 3, pp. 232-250. https://doi.org/10.1108/JFMPC-08-2012-0032
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Emerald Group Publishing Limited