| Abstract [eng] |
This paper deals with an issue of how to evaluate the possibilities provided by the public-private partnership (PPP) to optimize investments in public infrastructure. Literature analysis discloses this process being complex in nature. Value for money (VfM) assessment is acknowledged as the main decision-supporting tool to assess whether to implement investment project (IP) as a PPP. However, due to its multifaceted nature, this process is challenging and demanding, while results can be very different depending on the approach and assumptions applied, which, in turn, also causes criticism on very PPP. To get reliable results, the rational public sector‘s comparator (PSC) model and the financially viable and affordable PPP model should be constructed as well as their rational comparison should be done. To satisfy these requirements, there is a need of rational comparative tools presenting complex approach to the VfM assessment. Accordingly, the main objective of the research was to create an integrated complex model of evaluating the possibilities provided by the PPP to optimize investments in public infrastructure as well as to assess its suitability to be used in solving issues related to this assessment. Theoretical background of the research was based on the scientific literature analysis, synthesis, comparison and generalization, while the model was created by using methods of statistical analysis, financial analysis and modeling and logical analysis. The model consists of five stages: 1) preparation of the initial IP; 2) selection of IP for the assessment of PPP; 3) PPP structuring and feasibility analysis; 4) VfM assessment of actual bids, and; 5) VfM monitoring, which includes ex-ante, actual and ex-post assessment. The model was assessed in the hypothetical case study, where its suitability to be used in solving the issues related to the assessment of PPP’s possibilities to optimize investments in public infrastructure in both economic and social-based PPPs have been demonstrated. The results obtained allow arguing it as enabling to make reasoned decisions for the most efficient ways of IP implementation. |
