İnşaat Mühendisliği Bölümü / Department of Civil Engineering

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Browsing İnşaat Mühendisliği Bölümü / Department of Civil Engineering by Author "Akbıyıklı, Rıfat"

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    Publication
    Achieving Sustainable Construction Within Private Finance Initiative (Pfi) Road Projects in The Uk
    (Vilnius Gediminas Tech Univ, Sauletekio Al 11, Vilnius, Lt-10223, Lithuania, 2012-06) Dikmen, Seyyit Ümit; Akbıyıklı, Rıfat; Eaton, David; TR136069; TR141153
    The construction industry is facing the challenge of increasing demands of its sustainability performance. The construction and maintenance of the built environment has substantial impact on the sustainability of the environment. Meanwhile, public sector clients are increasingly asking for a sustainable approach in their specification and procurement decisions, sustainability is still seen as a novel concept within the construction industry in many parts of the world without a settled definition. The premise of this study is that the interaction between road projects realized by the private finance initiative and their delivery in the UK improve sustainability. The paper, based on the case study research, explains the sustainability implementation in two PFI road projects and demonstrates that the PFI mechanism facilitates sustainable implementation to a far greater extent than is achievable using traditional procurement methods.
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    Financing Road Projects By Private Finance initiative: Current Practice in The Uk With A Case Study
    (Vilnius Gediminas Tech Univ, Sauletekio Al 11, Vilnius, Lt-10223, Lithuania, 2011-06) Dikmen, Seyyit Ümit; Akbıyıklı, Rıfat; Eaton, David; TR136069; TR141153
    The necessity of funds for investment in capital intensive public projects has pushed public agencies to search for new procurement alternatives. Thus, in the early 1980s, the idea of private finance initiative (PFI) as a method of financing large-scale, capital intensive projects emerged in Australia. The method is aimed at resolving the shortage of public funds for major investments through the funding capability of private entities. Later, the method was widely used by other governments with the same name or different names such as BOT (build-operate-transfer) in the countries having different legal structures. This paper describes the mechanism of PFI used by the UK Government and evaluates three case studies in achieving the essential characteristics of adequate risk transfer and value for money to the taxpayer.
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    Publication
    Private Finance Initiative (PFI) For Road Projects In Uk: Current Practice With A Case Study
    (Svenciliste U Zagrebu, Fakultet Prometnih Znanosti, Vukeliceva 4, Zagreb, 10000, Croatia, 2011) Dikmen, Seyyit Ümit; Akbıyıklı, Rıfat; Eaton, David; TR141153; TR136069
    The long-term sustainable provision of new and high quality maintained road stock is vitally important, especially in times of economic constraint such as Europe is currently experiencing. The Private Finance Initiative (PFI) is one method of financing such large-scale, capital intensive projects. An important aspect of this form of financing projects is that the risks are borne not only by the sponsors but are shared by different types of investors such as equity holders, debt providers, and quasi-equity investors. Consequently, a comprehensive and heuristic risk management process is essential for the success of the project. The proposition made within this paper is that the PFI mechanism provides a Value-for-Money and effective mechanism to achieve this. The structure of this PFI finance and investment on a particular road project therefore enables all project stakeholders to take a long-term perspective. This long-term perspective is reflected in the mechanism of a case study of UK - Class A trunk roads which are examined in detail. This paper presents a novel solution to a modern dilemma.