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Today there are a number of different types of procurement routes available for clients to choose from. Each different type of procurement (traditional, design and build, management, etc.) has its own proponents and inherent strengths and weaknesses. Selection of optimal procurement systems is difficult, because even experienced clients cannot know all the potential benefits or risks for each system. Procurement is, therefore, a succession of ‘calculated risks’. Industry and academia have focussed research on reducing procurement risk through better procurement‐system selection methods. Current research considers procurement as a set of rationalistic decisions within a closed environment, aiming to produce generic, prescriptive rules for clients and advisers to use to select the ‘best’ procurement route for their project. This paper seeks to identify whether prescriptive procurement guidance was adhered to on a set of case study projects. It was found that clients usually selected appropriate procurement systems, and where an inappropriate system was selected, alterations were made in contract form to incorporate aspects of the ‘best’ procurement route.

The paper discusses the potential impact of videoconferencing on practices and processes within the construction industry, based on analyses carried out on its use and impact in the healthcare sector – which like construction involves technology‐intensive processes which are dependent upon cross‐professional and cross‐disciplinary relationships and communications, operate within an increasingly regulatory and litigious climate, and involve organizationally fluid, virtual, teams spanning several subindustries. Recently published research evidence from the healthcare sector suggests that whilst videoconferencing and other advanced information and communication technologies (ICTs) have pervasive capabilities, successes in their application may be shortlived and modest in achievement. In use, their actual uptake and application have been found to be fundamentally affected by a range of social and operational issues, such as fears over a new formalization and trackability of previously informal conversations; a rebalancing of power relationships (between professionals using the ICTs as well as between doctor and patient); pressures on social/cultural and procedural alignment between participants; and personal and corporate attitudes to the technologies (including simply disliking the ICT). There is also evidence from the healthcare sector to suggest that ICTs increase the complexity of the delivering healthcare, and that the limitations of the technologies emphasise an existing dependency of communications and processes on tacit knowledge which is not readily formalized for communication via ICTs. However, the paper also notes an increasing pressure on the construction industry to respond to the globalizing potential that ICTs offer for the supply and delivery of knowledge‐based services, and discusses the implications of the issues found in the healthcare sector for the use and potential abuse of ICTs in the construction industry that will have to be successfully addressed in order to avoid ICTs being perceived as threatening and to allow their use to help organizations address the globalising marketplace.

IN our last issue we made appeals for publicity by means of wireless broadcasting, and we are now pleased to state that this method has been successfully adopted and carried out by Mr. L. Stanley Jast at Manchester and by Mr. G. T. Shaw at Liverpool. We venture to suggest, however, that the executive of the Library Association should approach the British Broadcasting Company with a view to obtaining permission for a simultaneous broadcast weekly on some important phase of the Library Movement. The Liverpool and Manchester broadcasts were a purely local venture and would not reach listeners‐in outside a fifty‐mile radius unless very high power instruments were used. If, however, land lines could be put into operation it would be possible to reach every portion of the British Isles, and the possessor of the smallest crystal set would be able to hear. Could we not persuade the Hon. Secretary of the Library Association to undertake the task of addressing an invisible audience of something over a quarter‐of‐a‐million?

BOURNEMOUTH lies in one of the most beautiful parts of South‐west England; and all the world knows how this region has been immortalised by Thomas Hardy, who by his romances and poems has introduced to the public of England and America the ancient land of Wessex.

THE fact that the forthcoming conference of the Library Association is to be held at Eastbourne this year should provide it with an additional official interest, as it is here that the Association Hon. Solicitor and Legal Adviser holds the important office of Town Clerk. Mr. Fovargue is the authority on Library Law in all its aspects, and is the author of several books on this important subject. We are particularly happy in being able to print an article from his pen in our special Conference number. The programme of the proceedings is by now, no doubt, in the hands of our readers, and will be found to be less crowded, but no less useful for that, than in previous years. Apart from the usual business programme, which should prove full of interest, the social side has been fully catered for and delightfully arranged. Several interesting motor trips are to take place, and delegates will be afforded an opportunity of enjoying the charms of the beautiful county of Sussex as well as those of one of our most favoured of seaside resorts.

The purpose of this paper is to provide a better understanding of construction procurement within the supply chain management framework and develop a model for information flow. This paper adheres to the supply chain perspective and integration as theoretical point of departure, typically the role that information plays in a complex network such as construction procurement. The co‐ordination within partners and the integration across partners are critical in effective project management. Sharing information is a key component for tight integration to optimize the chain‐wide performance. It helps produce highest quality, low cost and minimum time to service. The tender offer from the procurer or invitation from a supplier triggers the requirement process. In response to the requirements there has to be an opposite flow of information, termed the fulfilment flow in the model described. The requirement information from a procurer is broken down to the project requirements for various partners in the project. Once the supply chain is identified in the postcontracting phase, information regarding specific tasks, materials, and so on, are communicated to the project partners. Information must be managed to bring in value. The quality of information received, the timeliness of the manner it is received and the costeffectiveness in obtaining the information determine the efficiency of a project partner. Another classification considered is that of the changing role of the partner with regard to information handling, i.e., the project partner as a recipient, decision‐maker and communicator of information. All these factors jointly contribute to increasing efficiency in construction procurement. This framework needs to be explored in future research to define subsequent steps in construction supply chain management, as the challenge is to adapt a totally integrated supply chain.

MR. JOHN BURNS, President of the Local Government Board, speaking on the Housing of the Working Classes Bill before the Standing Committee of the House of Commons, on 13th May, is reported to have said that “he believed the time had come when men were tired of drenching the country with Public Libraries, and were beginning to realise that small gardens, parks and open spaces were infinitely better for the people.” We do not contend for one moment that more parks and open spaces are not wanted for the use of the people, but that these should be provided in place of Public Libraries is certainly another matter. If more open spaces be necessary for the physical well‐being of the race, surely libraries are quite as much a necessity for the intellectual equipment of the people. And Public Libraries, if used in an intelligent manner, will certainly help those who use the parks to appreciate their beauties all the more. We can, perhaps, forgive Lord Rosebery for his recent criticisms on libraries, because by reason of his position, and having the great advantage of owning a fine library, he has not really experienced the need for the help a Public Library affords. It is, therefore, an easy matter to criticise from his point of view. But such criticism from John Burns, the self‐made man, and essentially a man from the ranks of the people, is another matter. He is the man who must have found Public Libraries useful to him in his earlier days; indeed, one seems to remember reading somewhere, a short time ago, that Mr. Burns gave an address in which he publicly stated that he owed much to Public Libraries for the help he had received through their agency. We earnestly hope that Mr. Burns did not intend to make so sweeping an assertion as his present words imply. From the point of view of librarianship such drastic criticism as this from such an one as Mr. Burns appears to us to be of serious import, especially as there seems to be a half‐veiled sting in his words which is unduly emphasised by the inclusion of the word “infinitely”—that “open spaces were infinitely better for the people” than Public Libraries. It is tantamount to saying that our work as librarians is of little value or that we have failed in our mission, either of which is very wide of the mark.

The paper aims to report the findings of research into perceptions of what makes the Private Finance Initiative (PFI) attractive or unattractive as a procurement system for projects in the UK.

The research uses a postal survey questionnaire technique for primary data collection. Literature review is used to identify relevant factors, which are then incorporated into the design of the survey instrument. Survey response data is subjected to descriptive statistical analysis and subsequently to rotated factor analysis.

Public/private partnerships (PPP)/PFI project procurement is perceived as most attractive in terms of positive factors relating to better project technology and economy, greater public benefit, public sector avoidance of regulatory and financial constraints, and public sector saving in transaction costs. Negative aspects, relating to factors such as the inexperience of the participants, the over‐commercialisation of projects, and high participation cost and time, make PPP/PFI procurement less attractive.

The procurement of public facilities and services under arrangements involving partnerships between the public and private sectors is claimed to provide a wide variety of net benefits to the public sector and to the private sector participants. In the project development process, the parties have to make decisions based on suitable evaluation criteria. At the early stage of preparing a business case, a clear and common understanding of the positive and negative factors surrounding PPP/PFI procurement will provide a more informed basis for decision making.

The purpose of this paper is to explore the fit between process standardization and international management strategy of multinational corporations (MNCs) by assessing the compatibility between process standardization and corporate structural characteristics in terms of asset configuration and headquarters-subsidiary relationships.

First, after a literature review on MNCs’ strategy and process standardization, the study suggests two propositions on the fit between corporate international management strategy and process standardization. Second, to empirically examine the propositions, the study investigates the outcome of process standardization in three cases with different strategic and structural contexts. Third, using the propositions and empirical findings, the study proposes a framework for aligning process standardization with MNCs’ structural characteristics.

Process standardization has a higher degree of fit in MNCs pursuing global integration where process standardization parallels the need for coordinating interdependencies in the functional structure, and is consistent with the headquarters’ operational control over the subsidiaries. Process standardization has a lower degree of fit in MNCs seeking local responsiveness as process standardization disturbs the financial control relationship between the headquarters and subsidiaries and is less crucial for coordination as the subsidiaries contain the necessary coordination mechanisms.

The study provides in-depth understanding of how the international management strategy and consequent structural characteristics of MNCs affects process standardization in the course of a global enterprise resource planning implementation. The study proposes conditions of fit for aligning process standardization with asset configuration and headquarters-subsidiary relationships of an MNC.

The purpose of this paper is to provide a method that can better evaluate the credit risk (CR) under PPP project finance.

The principle to evaluate the CR of PPP projects is to calculate three critical indicators: the default probability (DP), the recovery rate (RR) and the exposure at default (EAD). The RR is determined by qualitative analysis according to Standard & Poor’s Recovery Scale, and the EAD is estimated by NPV analysis. The estimation of the DP is the focus of CR assessment because the future cash flow is not certain, and there are no trading records and market data that can be used to evaluate the credit condition of PPP projects before financial close. The modified CreditMetrics model and Monte Carlo simulation are applied to evaluate the DP, and the application is illustrated by a PPP project finance case.

First, the proposed method can evaluate the influence of the project’s cash flow uncertainty on the potential loss of the bank. Second, instead of outputting a certain default loss value, the method can derive an interval of the potential loss for the bank. Third, the method can effectively analyze how different repayment schedules and risk preference of banks influence the evaluating result.

The proposed method offers an approach for the bank to value the CR under PPP project finance. The method took into consideration of the uncertainty and other characteristics of PPP project finance, adopted and improved the CreditMetrics model, and provided a possible loss range under different project cash flow volatilities through interval estimation under certain confident level. In addition, the bank’s risk preference is considered in the CR evaluating method proposed in this study where the bank’s risk preference is first investigated in the CR evaluating process of PPP project finance.