Value For Money Assessment In Public-Private Partnership

Public-Private Partnerships(PPPs)are procurement methods/models used in the provision to help deliver,providing needed of public infrastructure services by sharing of risks,skills,expertise,and finance.Value for Money(VFM)analysis typically defined regarding economic,efficiency,effectiveness,and sometimes equity,used to confirm that a public-private partnership delivery model would achieve the greater value for money than other procurement and delivery methods which obtained the maximum benefit from the goods or services within the available resources.The Thai government was also interested in improving their infrastructure for economic benefits with PPP procurement but lacking empirical data and no definitive guideline.Assistant from experience countries will be needed to guide the government to implement their procedure and cost estimation including construction,operation and maintenance of the railway projects.This research aims to study how to calculate Value for Money with Public Sector Comparator method exampling on railway reform in Thailand cases.Data has been collected multi-cases from example countries and researches,in-depth interviews to compare the procedures and summarize them for a case study for Thailand.Therefore,this paper show how to use Public Sector Comparator for the evaluation of Value for Money in two PPP infrastructure project cases in Thailand.The main processes will be following experts and guidelines from international experiences.The results of the study have been described what the guidelines founded from experts are,the example cases in Thailand on railway infrastructure reform,using of Public Sector Comparator to compare Net Present Value of Traditional procurement and PPP,the summarized the calculations to confirmed those PPP procurements are feasible in Thailand railway reform.