15 There are long lead times for developing projects and bringing the assets into operation. It takes five to nine years to develop projects and bring assets into operation. Delays can occur prior to contract award and in bringing the new facilities into operation. Prior to contract award, PFI projects have been delayed by an average of 19 months compared to the original timetables. Some delays occur because projects need to improve their business cases to gain central government approval. The current difficulties in the financing markets are also delaying large deals. Some projects have, however, been funded by contractors out of existing financial resources giving the prospect of faster deal closure. After contract award, delays have occurred because some projects have encountered difficulty in obtaining planning permission.