In the Province of British Columbia, the Ministry of Finance has mandated through its Capital Asset Management Framework (CAMF) that the following principles guide all public sector capital procurement:
• Fairness, openness and transparency,
• Allocation and management of risk,
• Value for money and protecting the public interest, and
• Competition.
In addition, in 2008 the Province of British Columbia revised the Capital Standard requiring, for all capital projects in which the Provincial contribution exceeds $50 million, that a PPP be considered for procurement unless there is a compelling reason to do otherwise (e.g., a different procurement model will generate better value for money). Further, projects where the provincial government contribution is between $20 million and $50 million will be screened to determine whether a more comprehensive assessment of the project as a PPP is warranted.
In support of the CAMF mandate for the preparation of project business cases, in addition to the evaluation of PPP structures in particular under the Capital Standard, Partnerships BC continues to develop and refine approaches to quantitative analysis of procurement options. The status of this work as of August 2009 is summarized in this document. Ministries and agencies should contact Partnerships BC for the most recent developments.