A Constructivist Orientation to Effectively Align VfM Objectives in PPP Infrastructure Projects

Christy P. Gomez () and Muhammad M. Gambo
Additional contact information
Christy P. Gomez: Universiti Tun Hussein Onn Malaysia
Muhammad M. Gambo: Universiti Tun Hussein Onn Malaysia

Chapter Chapter 64 in Proceedings of the 19th International Symposium on Advancement of Construction Management and Real Estate, 2015, pp 787-797 from Springer

Abstract: Abstract Public Private Partnerships (PPP) has evolved to serve the growing demand for infrastructure development in Malaysia. However, the Value for Money (VfM) evaluative aspect embedded within the Public Sector Comparator (PSC) of the PPP procurement form has faced lots of criticism. Much of the criticism is directed at the inability within PPP practice to effectively steer Special Purpose Vehicles (SPVs) towards established VfM objectives right from the inception stage. This inability is viewed as a constraint in the successful delivery of PPP projects. Using Theory of Constraints (TOC) analysis alongside critical theory perspective, three basic deficiencies in PPP practice is identified, namely: ignoring the much more permanent construction project organization; lack of consideration towards the partnership principle; and finally the lack of alignment within the project organizational framework towards delivering customized VfM objectives. In tackling the third deficiency, this paper proposes the Balanced Scorecard (BSC) approach with a clear emphasis on ‘Learning and Growth’ perspective as a means to consistently align the SPV towards achieving set VfM objectives. The underlying philosophical context of this work is based on augmenting the mainstream positivist orientation towards research and practice with a constructivist understanding of knowledge production.

Keywords: Balanced scorecard; Critical success factors; Public private partnership; Special purpose vehicle; Value for money (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-662-46994-1_64

Ordering information: This item can be ordered from
http://www.springer.com/9783662469941

DOI: 10.1007/978-3-662-46994-1_64

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().