Pitt, M;
McLennan, P;
Mulholland, K;
(2016)
Understanding the role of obsolescence in PPP/PFI.
In:
[Proceedings of] COBRA 2016: Construction and Building Research Conference of the Royal Institution of Chartered Surveyors.
Royal Institution of Chartered Surveyors (RICS): London.
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Abstract
In 2013 the Guardian newspaper reported that the UK Government had acquired £300 billion worth of capital costs and unitary payments within the formally known Private Finance Initiatives – now Public Private Partnerships. This paper is not about the economics or moral debate upon the success and failures of PPP’s within the UK, but rather the untold story of the impact of obsolescence upon the integral asset systems which support the service delivery. Prisons require supportable and maintainable security systems, the same can be said for government/defence buildings, not to the mention the life critical systems within hospitals and clinics across the country. However, there is an untold story, which is impacting the through life or lifecycle costs to support and maintain key asset systems, driving additional lifecycle expenditures that may be unforeseen. This paper contains evidence of the scale of the financial impact of obsolescence through obsolescence driven investments, not least to mention the potential operational impacts if systems become unsupportable. This paper begins to create a foundation for future research focusing on obsolescence and how best to monitor and mitigate its effects.
Type: | Proceedings paper |
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Title: | Understanding the role of obsolescence in PPP/PFI |
Event: | RICS COBRA 2016: Construction and Building Research Conference of the Royal Institution of Chartered Surveyors, 20-22 September 2016, Toronto, Canada |
Location: | Toronto, Canada |
Dates: | 19 September 2016 - 22 September 2016 |
ISBN-13: | 9781783211609 |
Open access status: | An open access version is available from UCL Discovery |
Publisher version: | http://www.rics.org/uk/knowledge/research/conferen... |
Language: | English |
Additional information: | Copyright © Royal Institution of Chartered Surveyors (RICS) 2016. This paper is reproduced with permission of RICS and must not be altered or amended. |
Keywords: | obsolescence, assset management, lifecycle, risk, PPP/PFI |
UCL classification: | UCL UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett Sch of Const and Proj Mgt UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning |
URI: | https://discovery.ucl.ac.uk/id/eprint/1502269 |
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