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Quantifying robustness in PFI's

Eaton, D and Sundaraj, G 2013, 'Quantifying robustness in PFI's' , Journal of Financial Management of property and Construction, 18 (1) , pp. 26-52.

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Purpose – The purpose of this paper is to define and quantify the term robustness within the context of a Private Finance Initiative (PFI) project environment from the perspective of the Granting Authority. The paper is conceptual, based on conceptual generalisations. Design/methodology/approach – The paper considers the theory of systems thinking within PFI procurement. This is further integrated with the concept of robustness and resilience used extensively in the ecology discipline. Combining the two, this paper presents a mathematical approach of quantifying robustness in PFI projects. Findings – An analytical model is used to support the mathematical analysis to quantify and define robustness. Research limitations/implications – The quantifying of robustness is based on the principal assumptions presented in the paper. The principal assumptions provide an ideal situation which is necessary to pursue and develop the proposed approach to quantify robustness. Changes to the assumptions may affect the generalisability of the approach. Originality/value – The paper provides a greater definition to robustness within PFI projects and the possibility of quantifying robustness to better monitor and manage the characteristic.

Item Type: Article
Themes: Built and Human Environment
Schools: Schools > School of the Built Environment
Schools > School of the Built Environment > Centre for Built Environment Sustainability and Transformation (BEST)
Journal or Publication Title: Journal of Financial Management of property and Construction
Publisher: Emerald Group Publishing Limited
Refereed: Yes
ISSN: 1366-4387
Related URLs:
Funders: Non funded research
Depositing User: Professor David Eaton
Date Deposited: 24 Jan 2014 14:53
Last Modified: 30 Nov 2015 23:54

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