Value for money in transport infrastructure investment: An enhanced model for better procurement decisions

This paper addresses the nebulous value for money (VfM) concept and its widely-criticised use in justifying adoption of Public-Private Partnerships (PPPs) transport infrastructure projects. It draws on theories identifies that is generated interaction supply side (i.e., governments - as project sponsors part delivery partnerships) demand end-users). In this sense, ‘public’ participation highlighted proposed framework to demonstrate it combination ‘traditional’ VfM together create a more meaningful concept. To underpin application framework, dynamic assessment process developed can facilitate appropriate selection procurement method assess throughout lifecycle. Unlike current examples, designed both PPPs their alternatives (e.g., conventional public sector procurement) aligns ex-ante ex-post assessment. The enhanced model creates an opportunity recognise interventions, shift mindset from singular multi-dimensional evaluation, start actually accumulate exploit experience past As such, contribution twofold: (1) drawing upon value, depicts ontology missing ingredient assessment; (2) develops holistic re-calibrate policy when procuring