Preparing for contract expiry is more critical than ever, with over 600 UK-based PFI projects set to expire by 2048. Nearly half of these fall between 2032 and 2037, making early action essential.
Here are three priorities to kick off yourplanning:
Get your documents in order Ensure all contract documentation is complete, up to date, and easily accessible. Key stakeholders need a thorough understanding of these documents, supported by a strong governance structure.
Engage early and strategically Successful expiry planning requires collaboration across your organisation. Establish a clear strategy for involving key stakeholders to ensure governance, operational alignment and future services planning.
Follow the IPA’s guidance There is practical guidance available on managing PFI expiry and service transition. Use tools like Expiry Health Checks (EHCs) and the wider resources of the PFI Contract Management Programme. These measures have already delivered significant value (estimated at £1.7billion) and can help you set the foundation for effective expiry and beyond.
Can we help?
Local Partnerships works alongside the National Infrastructure and Service Transformation Authority (NISTA) to maximise value for public authorities. From document audits and stakeholder engagement strategies to hands-on support, we can support you through each stage of PFI expiry. Resources at authorities are often constrained and Local Partnerships remains fully committed to delivering value and efficacy for the public purse. We are currently advising several authorities, on individual projects or managing a PFI portfolio, so to discuss any aspect of your PFI project, please do not hesitate to contact us.
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