Glossary

Abbreviation

Term

Definition

-

Additional Bank of Hours

Quota of FM services to enable use by the school or other third parties (Third Party Usage) outside of opening hour for community or other use. These hours are already paid for within the UC.

-

Backlog Maintenance

The cost to bring condition C and D assets up to condition B as identified within the condition survey and priced within the Lifecycle cost model.

BER

Building Energy Rating

A rating of the overall energy efficiency of a building. The rating is on a scale of A-G, with A rated buildings the most energy efficient and G the least.

BMS

Building Management System

A computer-based system that controls and monitors the building's M&E equipment such as ventilation, lighting, power systems, fire systems, and security systems.

CAPEX

Capital Expenditure

Refers to the construction and transaction costs for the PPP and Conventional Schools.

CIBSE

Chartered Institute of Building Services Engineers

International professional engineering association.

C&AG

Comptroller and Auditor General

-

CAFM

Computer Aided Facilities Management

Utilising information technology to support the management and delivery of FM services.

-

Concession

The contractual period for which the Project Company is responsible for the finance and operation of the PPP project. This is 25 years for the Pilot PPP Schools Bundle.

-

Conventional Schools

The collective name for the 4 schools selected by the DoE as the group for comparison against the Pilot PPP Schools Bundle.

The Conventional Schools were developed by the DoE by way of traditional procurement using up-front Exchequer funding and external support, including the design team and contractors.

DoE

Department of Education

-

DPER

Department of Public Expenditure and Reform

-

DBFO

Design, Build, Finance and Operate

DBFO services are procured by the authority and delivered by a private sector partner.

DFHERIS

Department for Further and Higher Education, Research, Innovation and Science

ETB

Education and Training Board

-

EWG

Emergency Works Grant

DoE grant for works required in emergency situations such as health and safety matters. Grants are awarded based on an application and review basis.

FM

Facilities Management

Management and delivery of services that ensure the facilities meet the needs of the client and building users e.g., maintenance, cleaning, grounds maintenance, statutory compliance.

FMA

Facilities Management Agreement

The contract between the Project Company and the FM Contractor which details the scope of the FM services.

FC

Financial Close

The point at which the PPP financing documents have been signed and prior conditions for the availability of financing have been met.

Financial Model

A digital spreadsheet computer file that incorporates, for the duration of the contract, all the investments, revenues, costs, and taxes as well as several analytical parameters and the relative inflation. The tool also incorporates the free cash flow of both the project company and the equity investor. The model utilised in this review is the model at FC.

FRA

Fire Risk Assessment

Under section 19 of the Safety, Health and Welfare at Work Act, employers are required to carry out risk assessments and to record these in the Safety Statement. A fire safety risk assessment should be conducted and should include Fire Prevention, Detection and Warning, Fire Detection and Warning and Emergency Escape.

-

FM Contractor

The party contracted to deliver the FM services as per the FM Agreement.

GIFA

Gross Internal Floor Area

The area of a building measured to the internal face of the perimeter walls at each floor level.

HICP

Harmonised Index of Consumer Prices

The EU Harmonised Index of Consumer Prices for Ireland.

Lifecycle

Renewal or replacement of building fabric and M&E plant, including significant overhaul. Costs assessed are as per the PPP Financial Model and broken down within the Conventional School accounts. AAP has produced Lifecycle cost models in line with industry guidance.

LPG

Liquefied Petroleum Gas

Source of fuel at some Pilot PPP Schools.

M&E

Mechanical & Electrical

Mechanical systems include elements of infrastructure, plant and machinery within systems such as heating and ventilation. Electrical systems include power supply and distribution, telecommunications, and lighting.

NDFA

National Development Finance Agency

-

NPV

Net Present Value

The current value of a series of cash flows over a period where the value decreases over time based on the value of money decreasing with time. This is the standard method (in line with other reviews and with the preparation of value for money/comparator exercises) for comparison of cash flows over variable periods of time.

OPEX

Operating Expenditure

Refers to the Lifecycle costs, FM Service delivery costs, Utility costs, and backlog maintenance costs for the PPP and Conventional Schools.

-

Payment Mechanism

PPP contract schedule/section outlining payment of the UC and the process for performance and availability based financial deductions.

-

Pilot PPP Schools Bundle (the Pilot PPP Schools Bundle)

The five schools delivered as part of the Pilot PPP Schools Bundle, reviewed within this report.

PAT

Portable Appliance Testing

Under section eight of the SHWWA Act, employer's duties cover the design, provision and maintenance of (i) safe workplaces (ii) safe means of access to and egress from the workplace and (iii) safe plant and machinery.

PA

Project Agreement

The contract between the Procuring Authority and Project Company for the financing, design, construction, operation and maintenance of the infrastructure being provided by the Project Company.

PPM

Planned Preventative Maintenance

Scheduled maintenance routine as required under the Project Agreement.

PPP

Public Private Partnership

A partnership between public and private sector organisations with shared objectives for designing, building, financing and operating new infrastructure. PPP is a form of procurement available to the public sector.

-

Project Company

The private sector partner of the Procuring Authority, namely 'Schools Public/Private Partnership (Ireland) Limited' for the Pilot PPP Schools Bundle.

PSB

Public Sector Benchmark

Comparing the cost of the PPP with achieving the same objective by traditional procurement/upfront Exchequer funding.

-

Residual Value

The cost of replacing an asset with its modern equivalent less deductions for physical deterioration.

RICS

Royal Institute of Chartered Surveyors

World's leading professional body for qualifications and standards in land, property, infrastructure and construction.

-

Senior Debt

The main form of debt raised by the private partner which usually has priority for repayment and decision-making powers in priority of other lenders.

-

Services Specification

The detailed requirements for the services being provided by the Project Co as outlined by the Authority in the Project Agreement (e.g., helpdesk provisions/energy management requirements).

-

Statutory Compliance

Compliance with health and safety regulations set out in law in relation to the management/operation of facilities. Legal compliance with these requirements is incumbent on all asset operators, owners or other responsible persons.

SWS

Summer Works Scheme

Devolved funding to individual school authorities to undertake small-scale building works which, ideally, can be carried out during the summer months or at other times that avoid disrupting the operation of the school. Grants are awarded based on an application and review basis.

TPI

Third Party Income

Income received in line with the PPP contract for use of the facilities by third parties.

TPU

Third Party Usage

Use of the facilities by third parties in line with PPP contract.

Transaction Costs

Pilot PPP Schools Bundle - architect, civil, structural, mechanical and electrical engineers, project management, employer's agent and FM consultant.

Conventional Schools - architect, civil, structural, mechanical and electrical engineers and employer's agent.

UC

Unitary Charge

Monthly payments from the Authority to the Project Company in line with the Payment Mechanism.

VfM

Value for Money

Consideration as to whether the value of a service received equals or exceeds the amount spent.

WRA

Water Risk Assessment

Under the Safety, Health and Welfare at Work (SHWWA) Act 2005, every employer must prepare a safety statement which is based on an identification of the hazards and an assessment of the risks to the Safety, Health and Welfare of his / her employees. In carrying out the risk assessment, consideration must be given to the risk of exposure to Legionella bacteria.

WTE

Whole Time Equivalent

Unit of measure to compare staffing resource based on hours of resource available considering different patterns of part-time and full-time working.