World Bank/ICA/PPIAF (2009)
ISBN 978-0-8213-7730-7
Excellent PPP Guide prepared by Partnerships UK for the World Bank. Chapter 4 covers project selection, scope and requirements.
Efficiency Unit Hong Kong, (May 2008)
A complete introduction to the development of business cases for Government initiatives and projects.
CABE (Commission for Architecture and Built Environment), (August 2002)
Sections 2, 3 and 4 stress the importance of setting sound output specifications and discuss the role of the public sector regarding the early design work for a project.
OECD (2008)
ISBN 978-92-64-04279-7
Pages from 36 to 46 (section 1, par. 1.1 and 1.2) offer a review of the affordability issue and distinguish it from budgetary limits imposed either legally or as political commitments.
François Bergère & al., Le Moniteur, 3rd edition (2010)
ISBN 978-2-281-12718-8
Chapter 7.1 and Annex 5 provide a detailed description of the analysis and distribution of risk in a PPP contract (risk identification, risk quantification and probability, generally using a Monte Carlo simulation, risk allocation). Pages 261-264 cover the accounting and statistical treatment of PPPs in French national accounts and Eurostat criteria.
Infrastructure Australia (December 2008)
Part 1 (pages 1-38), deals with risk allocation principles.
OECD (2008)
ISBN 978-92-64-04279-7
Chapter 3 reviews affordability, risk allocation and value for money in PPPs, while Chapter 4 discusses how PPPs are treated in the public sector budget and accounts.
Graham Vinter, Sweet and Maxwell Ltd., 3rd Edition (2006)
ISBN: 0421-909501
Chapter 6 presents a discussion of what lenders require for a project to be considered “bankable”.
A. Estache, E. Juan and L. Trujillo (2007)
Policy Research Working Paper 4436, World Bank, Washington DC
Provides a good review of PPP experience in transport, with a particular focus on financial and other risks.
Timothy Irwin, World Bank, Washington DC, (2007)
ISBN-10: 0-8213-6859-1 (electronic)
Comprehensive discussion on the use of government guarantees and the allocation of key project risks in public infrastructure projects with private financing.
European PPP Expertise Centre – EPEC (May 2011)
The paper aims to help policy makers evaluate whether State guarantees are an appropriate tool for their PPP programme and provides guidance on how best to implement and manage them.
HM Treasury (November 2006)
Describes current UK approach for assessing value for money in PFI projects.
Partnerships Victoria (June 2001)
Detailed instructions for preparing the PSC analysis. See also the Supplementary Technical Note published in July 2003.
Partnerships Victoria (February 2009)
Useful 6-page document, especially the one-page list of typical problems. Some parts deal specifically with issues in Victoria but most material is applicable broadly.
European Commission, Directorate General Regional Policy (March 2003)
Part 3 (pages 50-59) provides an overview of the economic and financial implications of PPP risks and value for money assessment of PPPs.
European PPP Expertise Centre – EPEC (May 2011)
The paper examines possible additional non-financial benefits associated with PPPs and presents a conceptual framework for a value for money comparison between PPP and conventional procurement which incorporates both financial and non-financial benefits.
Government of Hong Kong SAR, 2nd edition (March 2008)
Annex D provides an outline of how to construct a public sector comparator.
Council Regulation (EC) No 2223/96 (25 June 1996)
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:31996R2223:EN:HTML
ESA95 is available from the Eurostat website at:
http://circa.europa.eu/irc/dsis/nfaccount/info/data/esa95/esa95-new.htm
European Communities (2012 edition)
Part VI (Leases, licences and concessions) covers the treatment of long-term contracts between government units and non-government partners.
European PPP Expertise Centre – EPEC (October 2011)
Includes an extensive checklist for assessing whether a project will go on or off the Government's balance sheet according to ESA95 rules.
European PPP Expertise Centre – EPEC (2010)
Thorough review of all aspects and trade-offs related to the statistical and accounting treatment of PPPs including Eurostat rules and national accounting issues in EU Member States.
European PPP Expertise Centre – EPEC (September 2011)
This paper discusses Eurostat rules for the balance sheet treatment of a certain type of availability-based PPPs in which revenues from the PPP asset are perceived by government.
European Communities (October 2011)
Annex I of this report presents Eurostat’s methodology for renegotiated motorway PPPs in Portugal.
European Communities (October 2011)
A letter from Eurostat to the Polish statistical authorities applying the rules based on renegotiated PPPs in Portugal to a new PPP (motorway) project.
Infrastructure Australia (March 2011)
Section 8 sets out the standard management team structure for a PPP, including a steering committee, the project director and the project team.
PPIAF-World Bank (2001)
An extensive document giving guidance on all aspects of engaging and managing PPP project advisers. Pages 51-53 contain a discussion of whether to hire a lead adviser.
François Bergère & al., Le Moniteur, Third Edition (2010)
ISBN 978-2-281-12718-8
Pages 78-86 provide a brief introduction to how and why Authorities should use external advisers to help through the procurement process.
PPIAF-World Bank (version March 2009)
Module 5 highlights key information about the use of advisers, including typical costs and types of advisory skills needed.
Technical Note No. 3, HM Treasury Taskforce (undated)
A useful guide to the engagement of legal, technical, financial and project management advisers, the appointment process, checklists and forms.
Infrastructure Australia (March 2011)
A short section on developing a project plan and timetable (pages 6-7).
PPIAF-World Bank (version March 2009)
Module 5, section 3, describes the detailed due diligence and feasibility studies that are required to fully understand the project features that will feed into the tender documents and the PPP contract.
European Commission, Directorate General Regional Policy (March 2003)
Section 2, part 3 (pages 50-55) contains a brief description of the main sources of risk in a PPP project and its financial implications. Section 5 (pages 82-89) provides a brief overview of PPP project design issues from the EC perspective.
Special Secretariat for Public-Private Partnerships, Ministry of Economy and Finance, Athens (2006)
Pages 6-8 provide a summary of the minimum content of a PPP contract.
Government of Hong Kong SAR, 2nd edition (March 2008)
Annex F contains a 5-page outline of heads of terms for a generic PPP contract.
Infrastructure Australia (March 2011)
Section 10 and Appendix B (pages 51-55 and 81-95) discuss risk allocation and give an example of a generic PPP risk table.
European Commission (2000/C 121/02)
A concise description of EU policy on the procurement of concessions.
Ernst & Young (August 2009)
Gives capsule summaries of the common methods used in different countries. Concludes that, with the exception of Greece, the restricted procedure is not actively used for the procurement of PPPs in Europe.
European Commission - Directorate-General for Internal Markets and Services
A primary source for all EU procurement legislation and related explanatory notes, public consultations, communications and guidance.
European Commission Communication COM(2005) 569 final (November 2005)
European Commission (05 Feb 2008)
David Lee et al., Allen & Overy (February 2007)
Sets out the key procedural steps and issues involved in PFI competitive dialogue procedure in the UK.
UK Office of Government Commerce (2008)
Detailed guidance on how to use the competitive dialogue procedure.
UK Office of Government Commerce (March 2009)
A concise 12-page booklet outlining a few basic principles for the effective procurement of complex projects.
Ministère de l'Économie, de l'Industrie et de l'Emploi (March 2011)
Chapter 4 discusses the selection of the procurement option in the context of current French legislation.
François Bergère & al., Le Moniteur, Third Edition (2010)
ISBN 978-2-281-12718-8
Pages 169-185 cover procurement methods available for PPP procurement, with a helpful box on how to properly conduct a competitive dialogue.
DLA Piper (with the contribution of EPEC)
Some country descriptions in Section 2 of the report briefly mention the procurement methods followed.
Available upon request at:
European Commission
Michael Burnett, Institut Européen d’Administration Publique (2007)
ISBN 978-92-9203-001-8
Chapter 4 (The Legal Framework) contains an interesting discussion on the use of competitive dialogue.
Infrastructure Australia (March 2011)
Part 2 (Detailed Technical and Process Issues) discusses bid evaluation criteria from commercial, technical and quality of delivery points of view.
Eduardo Engel, Ronald Fischer and Alexander Galetovic (2002)
Regulation, Vol. 25, No. 3, Fall 2002
Pages 18-22 describe the “Least-Present-Value-of-Revenue” criterion used to award concessions pioneered in Chile’s toll road PPP programme.
Christopher Clement-Davies, Law in Transition 2007 (EBRD, London)
Discusses the structuring of concession agreements focusing on the principal issues that may determine success or failure.
PPIAF-World Bank (version March 2009)
Module 4 (section 3) contains a detailed description of the most relevant contract clauses and other agreements, bonds, guarantees, specific and “boiler-plate” provisions.
PPIAF-World Bank (version March 2009)
Module 5 (pages 91-97) contains a section summarising the main steps involved in obtaining expressions of interest and in carrying out prequalification and shortlisting.
Infrastructure Australia (March 2011)
Pages 11-16 and 60-62 summarise the main steps involved in obtaining expressions of interest and carrying out prequalification and shortlisting.
New South Wales Government (December 2006)
Pages 27-30 summarise the main steps involved in obtaining expressions of interest and in carrying out prequalification and shortlisting.
Partnerships Victoria (June 2001)
Pages 29-33 summarise the main steps involved in obtaining expressions of interest and in carrying out prequalification and shortlisting.
PPIAF-World Bank (version March 2009)
Module 5 (pages 98-102) provides a brief summary of the bidding process and the contents of bidding documents.
New South Wales Government (December 2006)
Very brief summary in pages 30-32 of process and contents of expressions of interest.
Scottish Government (April 2009)
Section 2 (From OJEU to Contract Award, pages 41-48) outlines the contents of the “invitation to participate in dialogue".
Planning Commission, Government of India, 2nd edition (July 2009)
Useful as a guide to the contents of the invitation to tender; it includes a relatively complete model of the “request for proposal”. Publication details accessible at:
Infrastructure Australia (March 2011)
A discussion about the interaction with bidders is found at pages 23-24.
Asian Development Bank (2008)
A short outline of the type of documentation to be placed in the data room is found on page 71.
UK Office of Government Commerce (2008)
A discussion of the dialogue process from the UK perspective is contained in pages 22-29.
PPIAF-World Bank (version March 2009)
Module 5, pages 102-106, discusses bid evaluation principles and issues for road projects.
Scottish Government (April 2009)
A discussion of the dialogue process from the UK perspective is contained in pages 22-29.
IPDF, Ministry of Finance, Pakistan (September 2007)
An indication of how the evaluation would be carried out by the project team on pages 23-26.
Michael Kerf et al., World Bank (1998)
A brief discussion of methods used to evaluate tenders on pages 75-79.
Infrastructure Australia (March 2011)
Pages 62-65 discuss the bid evaluation process.
PPP in Infrastructure Resource Center (PPPIRC), World Bank
Links to standardised guidelines and bidding documents issued by various countries.
UK Treasury Taskforce (February 2007)
UK Office of Government Commerce (2008)
A box on page 27 gives guidance on what to do if there is only a single (or no) bidder.
European Commission (2007)
Brief description of the new Remedies Directive and links to FAQs, public consultation documents, etc.
Partnerships Victoria (June 2001)
Chapter 12 (pages 46-48) describes the steps taken in the final negotiations of the PPP contract.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Section 6.3.8 offers a concise discussion of the risks of post-bid negotiations (as opposed to clarifications and fine-tuning) after the preferred bidder has been selected.
HM Treasury (August 2006)
European PPP Expertise Centre – EPEC, abridged version (August 2009)
Abridged version of a study providing a framework for analysing some potential responses to the financial crisis (as it affects PPPs market across the EU) and identifying a list of issues and considerations for the attention of the public sector.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 8 provides a good summary of what project finance is and why it is often used for PPPs.
Graham Vinter, Sweet and Maxwell Ltd. Third Edition, (2006)
ISBN: 0421-909501
Chapter 7 covers how to negotiate a credit loan agreement. Chapter 8 discusses credit security and related issues.
Scott L. Hoffman, Cambridge University Press, 3rd edition (2008)
ISBN: 978-0-521-70878-4
Chapter 24 (pages 328-335) describes 27 typical categories of conditions precedent to financial close for a generic project finance deal.
E. R. Yescombe, Academic Press (2002)
ISBN: 12-0-770851-0
Brief summary of what financial close entails, including a list of typical requirements (pages 312-314).
Infrastructure Australia (December 2008)
Section 1 (pages 3-6) and section 4 (pages 23-25) identify the main steps for developing a contract management strategy.
Irish Government (July 2006)
Discusses the establishment of a project management structure in the context of PPPs in Ireland (page 21).
Infrastructure Australia (December 2008)
Section 7 (pages 7-12, pages 46-55), section 6 (pages 28-40), and section 13 (page 104-106) discuss the main issues regarding the contract administration manual (with an example), a description of the reporting requirements in contract monitoring and a description of the information management process required by ongoing reviews.
Government of Hong Kong SAR, 2nd edition (March 2008)
Section 8 (pages 61-65) highlights the main issues arising from performance monitoring.
European Commission, Directorate General Regional Policy (March 2003)
Section 6 (pages 90-92) provides a brief overview of the contract monitoring activity from the EC perspective, with some additional examples.
PPIAF-World Bank (version March 2009)
Module 5, section 5 (pages 122-127) identifies the relevant issues addressed by contract managers and contains an example of the indicators usually monitored in toll roads projects.
Infrastructure Australia (March 2011)
Appendix H.2 (page 132) defines project risk and its relationship with contract management.
Infrastructure Australia (December 2008)
Section 12 (pages 96-102) discusses contract change scenarios.
HM Treasury (UK), Version 4 (March 2007)
Several chapters discuss in detail different kinds of contractual adjustment mechanisms designed to deal with project events, e.g. compensation, relief and force majeure events (chapter 5), change in service (chapter 13), change in law (chapter 14) and price variations (chapter 15).
PPP in Infrastructure Resource Center (PPPIRC), World Bank
Outlines a number of clauses dealing with areas that can give rise to confusion in infrastructure projects if not carefully considered (e.g. change in law, dispute resolution, force majeure, insurance clauses).
Government of Hong Kong SAR, 2nd edition (March 2008)
Section 8 (pages 68-71) discusses some of the implications of adjustments to contract terms.
J. L Guasch, The World Bank Institute (2004)
ISBN: 0-8213-3792-0
Chapter 7 contains lessons for optimal concession design with a view to avoiding opportunistic renegotiations, based on experience from hundreds of renegotiations of infrastructure concessions in Latin America.
Irish Government (July 2006)
Pages 31-32 contain a discussion of the implications of changes to the contract associated with refinancing in the context of PPPs in Ireland.
PPIAF-World Bank (version March 2009)
Module 5, section 5 (pages 139-140) identifies some dispute resolution procedures.
HM Treasury (UK), Version 4 (March 2007)
Section 5 (pages 233-235) discusses alternative dispute resolution procedures in the context of the UK.
European Commission, Directorate General Regional Policy (March 2003)
Section 6 (pages 93-94) discusses relationship management issues.
Infrastructure Australia (December 2008)
Section 8 (pages 58-67) offers a discussion of the importance of maintaining good communication channels in the context of dispute resolution.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 15 provides an extensive discussion of the major issues in determining the approach and calculating the termination payment for different types of termination.
Partnerships Victoria, Guidance Material (April 2008)
Section 29 presents a concise set of principles governing the termination payments to be made under a PPP contract.
HM Treasury (UK), Version 4 (March 2007)
Section 21 gives extensive and detailed drafting instructions for PPP contract provisions governing types of termination and termination payments, along with a discussion of the reasoning behind the various provisions.
PPIAF-World Bank (version March 2009)
Module 5, section 5 (pages 126-132) provides a discussion of the requirements of asset hand-over and the importance of ensuring the maintenance of assets’ residual value.
PPP in Infrastructure Resource Center (PPPIRC), World Bank
Considers the problem of inaccuracies in the assumptions for financial modelling and performance standards, and provides sample wording for an initial benchmarking period at the beginning of a contract.
Irish Government (July 2006)
A discussion of the different purposes of ex post evaluation is found in pages 30-31.
The NAO has played an important role in looking at the PFI/PPP experience in the UK. Their report on the Fazakerley PFI prison contract, for example, revealed the need to share the gains from refinancing PFI/PPP contracts to protect value for money for the taxpayer. Over the years, the NAO has audited many PPP projects drawing lessons that are relevant to PPP projects. Examples are the first four Design-Build-Finance-Operate highway projects in the UK, the Channel Tunnel rail link and the London Underground PPP contracts.
US Government Accounting Office (February 2008)
The report provides an example of a PPP review by the US Public Audit Body.
Michael Burnett, Institut Européen d’Administration Publique (2007)
ISBN -978-92-9203-001-8
Chapter 6 (pages 150-165) develops a detailed operational approach to PPP audits.
Directorate-General of Regional Policy, European Commission (June 2004)
Example of PPP review in the EU using case studies.
US Department of Transportation (July 2007)
An example of PPP review in the transport sector using case studies in the US and other countries.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 8 provides a summary of what project finance is and why it is often used for PPPs.
PPIAF-World Bank (version March 2009)
Module 6 contains graphical and numerical financial models based on a highway PPP project which illustrate the trade-offs inherent in alternative funding structures with model simulations.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 10 provides a comprehensive introduction on how bidders and their lenders structure the financing of a PPP.
European PPP Expertise Centre - EPEC (February 2010)
Abridged version of a study providing background information on the role of capital markets in PPP financing and setting out the reasons why the capital markets have largely withdrawn from it.
PPIAF & PriceWaterhouseCoopers (January 2006)
Analysis of a small sample of “hybrid” PPPs with mixed success regarding financial closure where EU grants are involved. Projects are located in Ireland, Portugal, Spain and Greece (Cohesion and Structural Funds), or in the accession countries (ISPA).
European PPP Expertise Centre – EPEC (May 2011)
The paper aims to help policy makers evaluate whether State guarantees are an appropriate tool for their PPP programme and provides guidance on how best to implement and manage them.
Odo Matsukawa, World Bank (2007)
Trends and Policy Options, No. 4
This book summarises the characteristics of the major types of risk mitigation instruments used by governments in privately financed infrastructure projects.
European Commission, European Investment Bank (October 2009)
Identifies potential measures for consideration by EU and national policy makers that could deepen and diversify access to sources of finance as well as financial instruments capable of facilitating additional investment in the development of the TEN-T Infrastructure.
European Commission Communication COM(2004) 327 Final (April 2004)
OECD (2008)
ISBN 978-92-821-01551-1
See chapter 10 for more information.
UNCITRAL - United Nations Commission on International Trade Law (2001)
UNCITRAL - United Nations Commission on International Trade Law (2004)
Provides a guide to civil law jurisdictions
European Commission Communication COM(2005) 569 Final (November 2005)
European PPP Expertise Centre - EPEC (May 2011)
This paper presents the instruments currently available for combining PPPs with EU Funds. It highlights the main challenges involved in blending and offers conclusions.
European Commission Communication: COM(2009) 615 (19 November 2009)
Communication explaining the European Commission’s objective of promoting private sector participation in the field of infrastructure and research via PPPs.
European Commission, Directorate General Regional Policy (July 2008)
Annex I (page 242) explains the basic formulae for EU grant determination.
European Commission, Directorate General Regional Policy (March 2003)
Part 4 (pages 63-72) discusses the integration of grant financing with PPPs.
PPIAF & PriceWaterhouseCoopers (January 2006)
The most thorough discussion of the basic issues publicly available at present.
Hugh Goldsmith, International Seminar “Strengthening Public Investment and Managing Fiscal Risks from PPPs”, Budapest (8 March 2007)
Overview of the key issues and models being considered by the EIB.
Joachim Schneider, Presentation (9 October 2008)
Listing of key issues and models and outline of the topics of a forthcoming study commissioned by JASPERS.
JASPERS (December 2010)
This working paper addresses the procurement of Design-Build-Operate contracts and the use of EU Structural Funds.
JASPERS (December 2010)
This working paper provides an overview and analysis of different possible models for PPP-grant blending, as well as a review of past projects following these models.
World Bank/ICA/PPIAF (2009)
ISBN 978-0-8213-7730-7
Excellent PPP guide prepared by Partnerships UK for the World Bank. Chapter 6 covers the role and scope of PPP advisers. Even though the guide contains examples of PPP projects in Africa, most of the guideline material is generic and applicable worldwide.
PPP in Infrastructure Resource Center (PPPIRC)
Provides guidance (and samples) on the terms of reference for transaction advisers.
Robert Bain, Robert Bain Publisher (2009)
ISBN-10: 0956152716
Chapter 3 surveys empirical evidence on traffic risk and lists common sources of forecasting errors. It is written for a non-specialist audience.
PPIAF-World Bank (version March 2009)
Module 2 contains information on payment mechanisms and implications for risk allocation.
J.M. Vassallo (2006)
Journal of Transport Economics and Policy, Vol. 40 (3)
Pages 359-381 describe pioneering Chilean experience with highway concessions.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 13 presents a detailed discussion of payment structures in PPP contracts.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 13 is devoted to a description and discussion of the payment mechanism.
Financial Partnerships Unit, Finance Directorate, Scottish Government (November 2007)
Discussion of key issues in designing a payment mechanism.
HM Treasury (UK), Version 4 (March 2007)
Chapter 7 presents a thorough overview of the major principles and issues relating to the payment mechanism and gives some drafting suggestions.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Section 12.4 (pages 211-18) provides a summary of the major insurance issues and concerns for the Authorities.
Graham Vinter, Sweet and Maxwell Ltd. Third Edition, (2006)
ISBN: 0421-909501
Chapter 6 discusses certain insurance issues from a more legal viewpoint.
HM Treasury (UK), Version 4 (March 2007)
Chapter 25 discusses the detailed treatment of a wide range of insurance issues, along with suggested and required (in the UK) contract clauses.
E. R. Yescombe, Elsevier (2007)
ISBN: 978-0-7506-8054-7
Chapter 16 gives an in-depth summary of the major issues involved in the refinancing of PPP projects.
UK Office of Government Commerce (2005)
This document gives a detailed explanation of the basic method used in the UK.
HM Treasury (UK), Version 4 (March 2007)
A model contract clause governing the sharing of refinancing gains can be found in section 34.8.
