The Missing Point Of Knowledge Management in PFI Projects

Abstract

The Private Finance Initiative (PFI) procurement model is a complex system which includes long-term commitment; customers’ satisfaction and through-life collaborative working. The projects based on this type of procurement has start from the year 1992 in the UK and year 2006 in Malaysia. Along the process, the PFI projects face few problems despite its advantages. These problem has effected the projects performance such as delay and cost overruns. It seems that the problems occurred are repeatable despite many types of research delved into solving the issues. This paper seeks, to find out the most common problems occur in PFI projects and highlights the best solution to tackle the problems. It also looks at whether similar problems occur in Malaysian construction industry. This research has summarised and critically review the literature on the repeated issues and problem in PFI projects which effect the performance of the projects in term of time, quality and money. It was found that similar problems occur and that similar suggestions were proposed. This shows that the proposed solutions have weaknesses somewhat and hence need to enhance further. This research highlighted the potential of incorporating knowledge management concept through its elements to address the problems. Finally, the paper proposes recommendations to improve the performance of PFI projects with the enhancement of knowledge management especially at the initial and planning stage up to bidding stage where the problem reviewed in the literature always occurred

Keywords

• PFI Issues
• Importance of KM
• Performance of PFI