Risk in Private Finance Initiative Projects::A Public Sector Perspective

The management of public sector risk is increasingly seen as a priority area of UK government policy. This has been highlighted recently by the Prime Minister Gordon Brown who stated that “the issue of public risk is one of the most challenging areas of policy-making for any government” (Strategic Risk, 2008). In response to these challenges, the UK Prime Minister has appointed a new body - the Risk and Regulation Advisory Council (RRAC) which is tasked with improving the way risk to the public is understood and managed. One area of particular concern with regard to the governance of public sector risks involves projects procured via the Private Finance Initiative (PFI). These projects involve long-term contracts, complex multi-party interactions and thus create various risks to public sector clients. Today, most PFI actors acknowledge the potentially adverse effects of these risks and make an effort to prevent or mitigate undesirable results. As a consequence, issues of risk allocation, risk transfer and risk management have become central to the PFI procurement process. This paper provides an overview of the risk categories and risk types which are relevant to the public sector in PFI projects. It analyses risk as a feature of uncertain future project-related events and examines potential pitfalls which can be associated with PFI risk management on the basis of a case study of a high-profile PFI hospital in Scotland. The paper concludes that, despite the trend towards diminished risk profiles during the operational phase, the public sector continues to be exposed to significant risks when engaging in PFI-based procurement.

Does the UK Local Finance Improvement Trust (Lift) Initiative Improve Risk Management in Public-Private Procurement?

The UK government introduced the Private Finance Initiative (PFI) and, latterly, the Local Improvement Finance Trust (LIFT) in an attempt to improve public service provision. As a variant of PFI, LIFT seeks to create a framework for the effective provision of primary care facilities. Like conventional PFI procurement, LIFT projects involve long-term contracts, complex multi-party interactions and thus create various risks to public sector clients. This paper investigates the advantages and disadvantages of LIFT with a focus on how this approach facilitates or impedes risk management from the public sector client perspective. Our paper concludes that LIFT has a potential for creating additional problems, including the further reduction of public sector control, conflicts of interest, the inappropriate use of enabling funds, and higher than market rental costs affecting the uptake of space in the buildings by local health care providers. However, there is also evidence that LIFT has facilitated new investment and that Primary Care Trusts (PCTs) have themselves started addressing some of the weaknesses of this procurement format through the bundling of projects and other forms of regional co-operation.

UK Public Private Partnerships and the Credit Crunch: A Case of Risk Contagion?

During the past twenty years, the UK has relied heavily on Public Private Partnerships (PPP) and especially the Private Finance Initiative in the procurement of infrastructure and services. Discussing the causes of the credit crunch and its effects on PPP, this paper notes that the provision of new public sector infrastructure and related services has been adversely affected by the impact of the credit crunch on Private Finance Initiatives (PFIs). These problems have arisen primarily from the unwillingness of commercial banks to replace collapsed PFI bond financing unless new PFI contracts reduce financial risks; which, in turn, is likely to increase the cost of these projects to the public sector. Additional financial strains have arisen for the UK government from the need to bail out collapsed PFI projects. Overall we find evidence that the UK commitment to PFI has not only increased immediate fiscal pressures on the UK when these have become least palatable, but has also created fiscal vulnerabilities at local and national levels which are likely to hamper the country’s ability to launch counter-cyclical responses to the ongoing crisis.

Perspectives on the Future of Public Private Partnership in the UK

During the past two decades the UK has played a leading position in the development and application of Public Private Partnership (PPP) based infrastructure procurement through its Private Finance Initiative model. This model had been developed during the last years of the Major Government and expanded during the early years of the Blair Government. The banking and economic crisis of 2007-09 has created major challenges to the use of PPP in the UK, making the sustainability of past levels of PPP investment and the future direction of PPP based infrastructure procurement in that country uncertain. This chapter summarises key developments in UK PPP up to the crisis; reviews the economic issues that have led up to the crisis; discusses the immediate impact of the crisis on the UK PFI and PPP market together with the transition arrangements that were put into to place by the Brown government; and, lastly, looks at recent initiatives taken by Cameron’s Conservative-Liberal Coalition Government under the designation of Private Finance 2 (PF2).

An Overview of Public Private Partnership

In many developed and developing countries there has been a move toward an increased reliance on Public Private Partnerships (PPPs) for infrastructure development. This involves an engagement with, or participation of, private companies and the public sector in the financing and provision of infrastructure. In most countries these PPP arrangements have been aimed at overcoming broad public sector constraints in relation to either a lack of public capital; and/or a lack of public sector capacity, resources and specialized expertise to develop, manage, and operate infrastructure assets.
In a number of countries Public Private Partnerships are now commonly used to accelerate economic growth, development and infrastructure delivery and to achieve quality service delivery and good governance. The spectrum of nature and types of public private partnerships (PPPs) are vast, making a precise and complete definition of a PPP difficult. However, significant developments in the use of PPP in many countries have made it increasingly important to understand these practices, as well as to unveil any underlying common principles and problems and to capture and develop a body of good practices, where such can be achieved.

Design and results of a dual-gas Quasi-Phase matching (QPM) foil target

Quasi-phase matching (QPM) can be used to increase the conversion efficiency of the high harmonic generation (HHG) process. We observed QPM with an improved dual-gas foil target with a 1 kHz, 10 mJ, 30 fs laser system. Phase tuning and enhancement were possible within a spectral range from 17 nm to 30 nm. Furthermore analytical calculations and numerical simulations were carried out to distinguish QPM from other effects, such as the influence of adjacent jets on each other or the laser gas interaction. The simulations were performed with a 3 dimensional code to investigate the phase matching of the short and long trajectories individually over a large spectral range.

The Role and Effectiveness of Public – Private Partnerships (NHS LIFT) in the Development of Enhanced Primary Care Premises and Services:Report for the National Institute for Health Research Service Delivery and Organisation programme

The research project analysed the role and effectiveness of LIFT via a multi-method study which included semi-structured interviews with policy elites and users, as well as case studies and an exploratory analysis of the financial characteristics of three LIFT Companies. While the team felt that it was able to identify key aspects relating to the advantages and drawbacks surrounding LIFT, some aspects relating to the representativeness of the study was adversely affected by a reluctance of PCTs to participate in the case study analysis and commercial confidentiality restrictions. The study was nonetheless able to identify important issues in relation to the funding and procurement of primary care premises and services.

Partial Palmprint Matching Using Invariant Local Minutiae Descriptors

In forensic investigations, it is common for forensic investigators to obtain a photograph of evidence left at the scene of crimes to aid them catch the culprit(s). Although, fingerprints are the most popular evidence that can be used, scene of crime officers claim that more than 30% of the evidence recovered from crime scenes originate from palms. Usually, palmprints evidence left at crime scenes are partial since very rarely full palmprints are obtained. In particular, partial palmprints do not exhibit a structured shape and often do not contain a reference point that can be used for their alignment to achieve efficient matching. This makes conventional matching methods based on alignment and minutiae pairing, as used in fingerprint recognition, to fail in partial palmprint recognition problems. In this paper a new partial-to-full palmprint recognition based on invariant minutiae descriptors is proposed where the partial palmprint’s minutiae are extracted and considered as the distinctive and discriminating features for each palmprint image. This is achieved by assigning to each minutiae a feature descriptor formed using the values of all the orientation histograms of the minutiae at hand. This allows for the descriptors to be rotation invariant and as such do not require any image alignment at the matching stage. The results obtained show that the proposed technique yields a recognition rate of 99.2%. The solution does give a high confidence to the judicial jury in their deliberations and decision.

Wide Matching - An Approach to Improving Noise Robustness for Speech Enhancement

It is shown that under certain conditions it is possible to obtain a good speech estimate from noise without requiring noise estimation. We study an implementation of the theory, namely wide matching, for speech enhancement. The new approach performs sentence-wide joint speech segment estimation subject to maximum recognizability to gain noise robustness. Experiments have been conducted to evaluate the new approach with variable noises and SNRs from -5 dB to noise free. It is shown that the new approach, without any estimation of the noise, significantly outperformed conventional methods in the low SNR conditions while retaining comparable performance in the high SNR conditions. It is further suggested that the wide matching and deep learning approaches can be combined towards a highly robust and accurate speech estimator.

A Largest Matching Area Approach to Image Denoising

Given the success of patch-based approaches to image denoising,this paper addresses the ill-posed problem of patch size selection.Large patch sizes improve noise robustness in the presence of good matches, but can also lead to artefacts in textured regions due to the rare patch effect; smaller patch sizes reconstruct details more accurately but risk over-fitting to the noise in uniform regions. We propose to jointly optimize each matching patch’s identity and size for gray scale image denoising, and present several implementations.The new approach effectively selects the largest matching areas, subject to the constraints of the available data and noise level, to improve noise robustness. Experiments on standard test images demonstrate our approach’s ability to improve on fixed-size reconstruction, particularly at high noise levels, on smoother image regions.

Indexing and matching trajectories under inconsistent sampling rates

Quantifying the similarity between two trajectories is a fundamental operation in analysis of spatio-temporal databases. While a number of distance functions exist, the recent shift in the dynamics of the trajectory generation procedure violates one of their core assumptions; a consistent and uniform sampling rate. In this paper, we formulate a robust distance function called Edit Distance with Projections (EDwP) to match trajectories under inconsistent and variable sampling rates through dynamic interpolation. This is achieved by deploying the idea of projections that goes beyond matching only the sampled points while aligning trajectories. To enable efficient trajectory retrievals using EDwP, we design an index structure called TrajTree. TrajTree derives its pruning power by employing the unique combination of bounding boxes with Lipschitz embedding. Extensive experiments on real trajectory databases demonstrate EDwP to be up to 5 times more accurate than the state-of-the-art distance functions. Additionally, TrajTree increases the efficiency of trajectory retrievals by up to an order of magnitude over existing techniques.

Largest Matching Areas for Illumination and Occlusion Robust Face Recognition

In this paper, we introduce a novel approach to face recognition which simultaneously tackles three combined challenges: 1) uneven illumination; 2) partial occlusion; and 3) limited training data. The new approach performs lighting normalization, occlusion de-emphasis and finally face recognition, based on finding the largest matching area (LMA) at each point on the face, as opposed to traditional fixed-size local area-based approaches. Robustness is achieved with novel approaches for feature extraction, LMA-based face image comparison and unseen data modeling. On the extended YaleB and AR face databases for face identification, our method using only a single training image per person, outperforms other methods using a single training image, and matches or exceeds methods which require multiple training images. On the labeled faces in the wild face verification database, our method outperforms comparable unsupervised methods. We also show that the new method performs competitively even when the training images are corrupted.

Between-taxon matching of common and rare species richness patterns

Aim: Our primary aim is to understand how assemblages of rare (restricted range) and common (widespread) species are correlated with each other among different taxa. We tested the proposition that marine species richness patterns of rare and common species differ, both within a taxon in their contribution to the richness pattern of the full assemblage and among taxa in the strength of their correlations with each other. Location The UK intertidal zone. Methods: We used high-resolution marine datasets for UK intertidal macroalgae, molluscs and crustaceans each with more than 400 species. We estimated the relative contribution of rare and common species, treating rarity and commonness as a continuous spectrum, to spatial patterns in richness using spatial crosscorrelations. Correlation strength and significance was estimated both within and between taxa. Results: Common species drove richness patterns within taxa, but rare species contributed more when species were placed on an equal footing via scaling by binomial variance. Between taxa, relatively small sub-assemblages (fewer than 60 species) of common species produced the maximum correlation with each other, regardless of taxon pairing. Cross-correlations between rare species were generally weak, with maximum correlation occurring between small sub-assemblages in only one case. Cross-correlations between common and rare species of different taxa were consistently weak or absent. Main conclusions: Common species in the three marine assemblages were congruent in their richness patterns, but rare species were generally not. The contrast between the stronger correlations among common species and the weak or absent correlations among rare species indicates a decoupling of the processes driving common and rare species richness patterns. The internal structure of richness patterns of these marine taxa is similar to that observed for terrestrial taxa.