Public Private Partnership : A Proposal for Value for Money Assessment in the Italian Context

This paper aims to identify the main issues related to the introduction of innovative accounting methodologies for public administrations to quantify value for money and support the evaluation process in the early stage of a Public Private Partnership (PPP). In this paper we will first introduce the major changes occurring to Italian infrastructural market, then we will present the accounting methodologies used in some foreign countries. In particular the model called Public Sector Comparator (PSC) will be considered as a starting point to identify a proper Italian evaluation model taking into account the different Institutional and legal framework, Italian specificity and cultural problems. This model should provide the essential links between risk assessment, risk allocation and the optimal allocation of public resources. We will also try to experimentally introduce the main concept at the base of this methodology in a Public owned Company “ANAS” to improve its ability to assess VFM in a motorway construction project