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Experts call for PPP project partnership upgrade

DUBAI, October 24, 2016

Leading project management experts have called for fostering partnership between the public and private sectors by upgrading the principles, rules, mechanisms and policies at a major conference held in Dubai, UAE.

The Dubai International Project Management Forum is being organised by the Roads & Transport Authority (RTA) in collaboration with the Dubai Electricity and Water Authority, Emaar Properties, and Project Management Institute (PMI) and will run till October 25 at the Convention Center, Madinat Jumeirah.

The Public-Private Partnership (PPP) session of the DIMPF called for studying PPP's contract with utmost attention by conducting feasibility studies compiled by both parties, focusing on potential variables, and seeking legal guidance form experts.

The session drew the participation of a powerful line-up of 35 international speakers, including ministers, heads of agencies and institutions, major company executives, and an elite panel of international experts specialized in project management, which represents the backbone of development strategies, and one of the key pillars of modern management science, which would have a positive bearing on forming the frameworks that ensure success of development efforts in various fields.

Speaking about PPP in new and emerging markets; as well as  the common risks that should to be avoided, Willy Shunibari, the managing director and CEO, Shunibari Consulting, said: "Economic feasibility and previous studies are crucial to establishing PPP."

"Anticipating prices, which may rise in the future and inflict losses to the private sector rendering it unable to fulfill obligations, thus ensuring a strong and successful PPP. Both tendering and bidding processes require professionals to rule out any obstacles that may hinder the execution of the project in the future," he noted.

Under the headline of "Managing public-private sectors contracts partnership, Upon Business Start," David Baxter, the chief executive at Public-private sectors Partnerships (ip3), focused on PPP contracts.

"A common problem that faces either or both parties is the lack of qualified personnel capable of drafting a balanced contract in line with the applicable laws, taking into account market competition and equal opportunities," stated Baxter, who called for training contracts personnel so that they produce the best PPP contracts.

Baxter stressed the importance of PPP supervisory team, execution of contracts, and ensuring contracts' efficiency. He noted that building strong teams that fully understand their roles in each project is better than a strong manager lacking a strong supporting team.

Baxter also underlined the need for lawyers and legal cadres specialized in drafting contracts to monitor the project's progress, and the impact of external factors, especially long-term projects and contracts. He also underscored the importance of drafting flexible and adaptable contracts lest new developments show up in the market, for the benefit of the public and private sectors.

Korin Corvord, the executive advisor at the Administrative Sector Manager Office, in Los Angeles, talked about the privacy of Los Angeles, the second largest US city.

His session entitled ' Fourth Factor: Making Progress in PPP Sectors, Los Angeles,' reviewed mega PPP projects, which is worth tens of billions annually.

"We invest in roads, environment, railways, transportation, and construction, and we work hard to materialize our objectives of our 2016 – 2017 plan. We aspire to make progress in such a partnership, especially when it comes to laying the foundations, policies and standards to manage this partnership," observed Corvord.

"We are considering developing the partnership formats, and its overall framework, besides educating and training partners, a improving such partnership in financial instruments, expenditure management, and contract management," he added.-TradeArabia News Service




Tags: Experts | partnership | upgrade |

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