Drivers for adopting public-private construction partnerships in the Term Paper

Drivers for adopting public-private construction partnerships in the US, UK and Australia - Term Paper Example This study also narrows the gap in the literature by collecting primary empirical data from interviews with construction company managers and owners in the US with a view to understanding their perspectives on the drivers for adopting PPPs. The results of this study are discussed and implications for practice and areas for further research are identified. Table of Contents Abstract 2 Introduction 4 Study Scope and Objectives 5 Research Methodology 5 Organization of the Research Report 6 A Review of Literature 6 Conceptualization of Public-Private Construction Partnerships 6 Public-Private Construction Partnerships in the US, UK and Australia 9 Public-Private Construction Partnerships in the US 9 Public-Private Construction Partnerships in the UK 11 Public-Private Construction Partnerships in Australia 13 Summary of Findings in the Literature 14 Empirical Evidence 14 Secondary Data: Australia 14 Secondary Data: The UK 17 Primary Empirical Evidence 19 Analysis 22 Implications for Pract ice 23 Areas for Further Research 23 Bibliography 25 Introduction Public-private partnerships (PPP), also known as P3s are contractual arrangements between governments and private entities/concessionaires for the construction of facilities. Under the P3 contract, the private investor typically funds the construction phase of the facility and is usually entitled to share revenues associated with the facilities (Rowlson, 2012). In addition to sharing revenues, the private entity involved in a PPP also assumes some of the risks associated with the construction project (Hodge, 2004). As a part of a trend toward more privatization of public services, the UK has increasingly adopted PPPs for the construction of government infrastructure (Spackman, 2002). A similar trend can be observed in the US with 23 states legislating for PPPs (Rowlson, 2012). PPPs have also become a part of government public management systems in Australia (English, 2006). Ke, et al. (2009) conducted a review of lite rature on PPPs and examined peer-reviewed articles published between 1998 and 2008. Findings indicate that research into PPPs have steadily increased from 1998 to 2008 revealing an increasing importance to the construction industry. The most popularly researched areas was the â€Å"build-operate-transfer† form of the PPP with some interest in investment conditions, governance and other areas that tend to compliment PPPs (Ke, et al., 2009, p. 1076). It would therefore appear that the drivers of PPPs is under-researched. As, Hodge and Greve (2007) note, although there is intensive interest in the popularity of PPPs, little is understood about these new partnerships in the context of traditional partnerships. Bovaird (2004) argue that although PPPs have become increasingly popular globally over the last 25 years, the definition of PPPs is difficult to conceptualize as it means different things, depending on the country involved and the project to which it applies. Thus further r esearch is necessary for gaining a more profound understanding of PPPs, what the future of PPPs are and how best to model PPPs. This research will therefore add to current knowledge on PPPs by comparing the drivers of PPPs in the UK, the US and Australia. The UK, US and Australia are selected for this study because empirical and

Elements of Literature Essay Example | Topics and Well Written Essays - 2000 words

Elements of Literature - Essay Example the basic need which drives people to read, be it prose, poetry, essays, plays, or any of the genres which constitute this infinite creative process. According to him, stories provide us with pleasure while at the same time informing and enlightening us with their multifarious characters and themes or to put it simply, â€Å"they enlarge our understanding of ourselves and deepen our appreciation of life.†(p. 27) The fictional world created by the masters of this craft are peopled by some of the most interesting people we know and who have become the byword for many of the attributes found in people all over the world. Characters whether in a story, play or poem help to move the story forward as much as the action, since what happens to whom, when, where and the characters corresponding response to this situation creates the story. The characters in a story can be dynamic or static depending upon their utility to the action and the insights they provide into the action. A dynamic character is sketched out in great detail and the reader is made privy to their inner thoughts and consciousness through narration in the first person or even through the use of the device of third person focalization. These characters undergo changes in their personality and outlook due to the experiences which they undergo. A very good example of such a character would be that of Louise whose circumstances make her portray herself differently at different times. Before the news of her husband’s death, she is the traditional dull housewife whose dreams are buried deep in her heart. But as soon as the unfortunate news reaches her, she becomes a totally different character who is ready to enjoy her new found freedom and is in fact happy at the turn of circumstances. A static character on the other hand may not show any great degree of transformation but they are necessary to move the action forward. E.M. Forster in his Aspects of the Novel makes another form of distinction between