A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Organising Project Finance
Modern project finance is understood as a method of finance, whereby the borrower is generally a standalone corporate entity, often a special purpose vehicle and, therefore, a single‐project enterprise. The advent of large‐scale securitisation of project finance debt instruments helped to attract significant institutional capital, which had shied away from infrastructure debt because of the risk/return profile. This chapter argues that despite what some economic theory might predict, the manner in which a project is financed imposes formal ‘constraining and enabling’ conditions at all phases of the built‐asset lifecycle. Successful project organisation and delivery depends upon an adequate understanding of these dynamics. Project governance should also ensure that there is a system of a detailed post‐project evaluation of costs and benefits. The need for new public infrastructure in the twenty‐first century is growing at a time when public finances are constrained.
Organising Project Finance
Modern project finance is understood as a method of finance, whereby the borrower is generally a standalone corporate entity, often a special purpose vehicle and, therefore, a single‐project enterprise. The advent of large‐scale securitisation of project finance debt instruments helped to attract significant institutional capital, which had shied away from infrastructure debt because of the risk/return profile. This chapter argues that despite what some economic theory might predict, the manner in which a project is financed imposes formal ‘constraining and enabling’ conditions at all phases of the built‐asset lifecycle. Successful project organisation and delivery depends upon an adequate understanding of these dynamics. Project governance should also ensure that there is a system of a detailed post‐project evaluation of costs and benefits. The need for new public infrastructure in the twenty‐first century is growing at a time when public finances are constrained.
Organising Project Finance
Addyman, Simon (editor) / Smyth, Hedley (editor) / Coffman, D'Maris (author) / Kelsey, John (author)
Construction Project Organising ; 51-67
2023-04-17
17 pages
Article/Chapter (Book)
Electronic Resource
English
Construction project organising
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