PFI/DBFO

Abstract

This article presents an in-depth analysis of the Private Finance Initiative (PFI) procurement system for the construction of major highway works under the principles of design, build, finance, and operate (DBFO). Its purpose it to determine whether PFI/DBFO is a successful procurement route in providing appropriate risk transfer for the development of major highway works. Thereafter, by careful analysis of the results of the research, the future of major highway work under PFI/DBFO forms of procurement can be predicted, along with relevant recommendations for further research, in order to improve the performance of PFI/DBFO system.