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Understanding the role of obsolescence in PPP/PFI

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. Green open access

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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
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 > 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 Engineering Science > Dept of Civil, Environ and Geomatic Eng
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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