The current perspective of major United Kingdom construction companies on the private finance initiative

Much of the material published which is devoted to the Private Finance Initiative (PFI) has concentrated on the perceived inadequacies of the PFI. However, not withstanding its perceived inadequacies, PFI will exert an increasing impact on the United Kingdom construction industry. In consequence, instead of focusing energies into highlighting the problems of the PFI process, all energies must now be directed into the improvement of the process. Both private and public sectors must perform their respective partnership roles effectively in order to ensure the success of the PFI strategy. The paper reports on the outcomes of research completed during the first quarter of 1997, undertaken amongst fourteen major United Kingdom construction companies ( identified from the 1996 Building ' Top 300 European Contractors ' ) in order to establish the current perspective of major United Kingdom construction companies on the Private Finance Initiative. On the basis of the findings, recommendations for enhancement of the performance of the PFI initiative in relation to construction projects are proposed and evaluated. The purpose of the research project is to make a significant contribution to facilitating the operational efficiency of the PFI strategy.