Prepare as PPPs

Ensure that sufficient preparatory work is performed during the project initiation stage, which will prepare the project to be presented to the market, draw sufficient interest from the private sector, and proceed efficiently during the procurement stage. The preparatory work will include comprehensive assessment of the following:

i. need for the project;

ii. delivery options assessment;

iii. estimate the value for money for the government if the project is undertaken as a PPP;

iv. approvals and regulatory requirements;

v. financial and no-financial government support; and,

vi. market readiness

Ensure that Bids from the private sector are solicited only where there is demonstrated private appetite and scope to leverage private participation to deliver value for money savings;

Gaining key stakeholder approval of private sector involvement in a project and of support in the form of financial and non-financial governmental support prior to the formal involvement of the private sector;

Develop a consistent and clear set of evaluation criteria that takes into consideration technical and whole-of-life cost of the financial Bids from the private sector.

To prepare the project for PPPs, government entities should hire well-qualified external financial, legal and Technical Advisors. It is recommended that these are international organisations that have sufficient precedent experience in PPP transactions. These advisors should also be regulated by independent bodies such as the Financial Services Authority, DFSA, The Institute of Chartered Accountants of England & Wales, and The SRA (UK). In any event, the firm and the team both should demonstrate experience of advising on PPP Projects of similar nature.