Overall, the priority for these studies should be to report on performance post-construction and the extent to which operational and life-cycle risks are transferred in practice. Within this, specific areas of interest might include:
• Differences in the level and costs of service delivery of soft and hard FM, including a more detailed assessment of the relative merits of transferring both soft and hard FM within the contract. Related to this, it would be useful to explore further the way that the SPV structure impacts on performance in specific cases.
• A more detailed assessment of the costs associated with the comparative lack of flexibility in PPP contracts compared to alternative procurement structures. This analysis might look in more detail at specific examples of contract changes within the operational phase.
Sector comparisons (across procurement approaches) on the life-cycle and condition of assets of similar age.