The Project Committee may seek the assistance of experts and consultants specialized in various aspects and dimensions of partnership law if the Financial and Economic Committee agreed this matter.
A. Importance of having consultants for the project
The PPP project awarding completion depends mainly on the good organization and preparation by the Federal Entity and its ability to take advantage of expertise and competences in the Technical Bureau and to hire specialized consultancy services.
The consultant selection has a significant impact on the perception of potential investors for the presented project, whether in terms of the extent of their interest or willingness to provide the expected price. The consulting firms' importance is attributed to fact that the joint projects are complicated projects requiring skills and expertise specific to the project nature and such expertise may not be available at the federal entity or the Technical Bureau. The specialized consultants provide skills and expertise required for the success of awarding process. The close cooperation between the consultants on one hand and the Project Committee and the team on the other hand plays a significant role in developing the skills of the committee members and work team.
Consultant hiring reduces falling into costly mistakes that can be avoided, as they are aware of the best local and international practices and implemented similar joint projects.
Participation of the private sector and the extent of its interest in investment depend on the confidence of investors in the State in general and in the contracting Federal Entity in particular. The consulting firms have an impact on the private sector's decision for investment, since hiring of well-known and reputable consulting firms supports the credibility of awarding process and enhances the investors' confidence.
The private sector judges the State based on previous experiences. If the State proves its dependence on transparent and fair selection procedures in the early phases of the project, i.e. when selecting consulting firms, this supports and enhances the investor's confidence in the awarding process.
Contracting with well-known and reputable consultants supports the credibility of the awarding process, as the consultants having distinctive reputation are not ready to involve their names in projects that cannot be implemented; a matter that satisfies the investors as for the project's integrity due to the independence of such consulting firms.
In light of the foregoing, the benefits resulting from proper planning and preparation of the awarding process and the success of the joint project in the long term may exceed the consultants' fees incurred by the State for once.
B. Timing of the project consultant appointment
This appointment shall be made if it is decided to add the proposed project to the joint projects program and after the formation of the project committee. It is worth noting that it is better that the transaction Advisor shall be appointed before the other consultants; due to its role in determining the required skills of the other consultants and drafting RFPs directed to consultants, based on his experience in implementing similar projects.
C. Project consultancy team
The joint project consists of several diverse elements and requires a wide range of disciplines at the preparation phase and during the awarding process. Thus, each project requires a different mix of consultants. However, there are some fixed skills within the projects, which are provided by financial, legal and technical consulting firms.
The project consultancy team consists of the transaction Advisor, known as the financial consultant, and legal and technical consultants, all of them are cooperating within a single frame under the supervision of the project committee.