PHOTO COURTESY OF BALFOUR BEATTY An audit of privatized contract to widen M25 highway found its procurement slow and expensive. Related Links: P3 Special Report: U.S., Canada and U.K. Push Ways to Refine Projects Transport P3s Take Lessons Learned Into New Unknowns Private Funding Finds A Way Into Other Public Spaces The United Kingdom's Private Finance Initiative, one of the most established models for public-private partnerships, is facing an overhaul as policy-makers rethink the traditional parameters of project finance, procurement and management. The shift follows years of PFI use under the Labour Party when it was in power. Since the
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.