Sunday, October 27, 2019

Fossil Fuels: Contribution and Impact

Fossil Fuels: Contribution and Impact Discuss the contribution of fossil fuel to modern human society and the environmental impact The importance of Fossil Fuels to human society cannot be overemphasized. Public services such as buses, train system, general heating system and electricity are being powered with fossil fuels. Due to the high global demand of fossil fuels, they form the major part of the economy of producing countries and the world in general. However the impact of fossil fuel to the environment has been an issue of great concern. Considering the visible contributions of fossil fuels to modern human society, the environmental implications pose a dilemma to the world leaders. It is crucial that the hazards posed by fossil fuels to the environment be tactfully minimized while taking into account its positive contributions to civilization. The first section of this essay will discuss in a general context the different contributions that fossil fuel had made to the modern human world. It will further discuss the contributions and environmental implications of coal, oil and natural gas. The final sectio n in the form of conclusion will summarize in a general term the contributions and environmental implications fossil fuels on modern human society. Comparing the trends in the rate at which each type of fossil fuel is being consumed in a global scenario will show the impact of the continuous increase in the rate of fossil fuels consumption will have on future environment. The environmental implication of fossil fuels as discussed in this essay is with respect to pollution and climate change. Energy is fundamental to the quality of our lives. In fact most human activities depend on the regular and uninterrupted supply of energy. This makes fossil fuels essential to modern human society, (Baker, 2008).The issues concerning the facts of the global energy consumption can be related to fossil fuels because; they serve as primary source of energy globally. According to Chow, et al. (2003),  the global energy use exceeds 370 (EJ) and fossil fuels contribute about 80% of this quantity of energy. This implies that fossil fuels contribute two third of global energy. Fossil fuels are made up of namely: coal, oil and natural gas. They were formed in the outer layer of the earth from the remains of plants and animals over hundreds of millions of years age (Encarta World English Dictionary, 2005). This implies that fossil fuels are almost non-renewable because its formation process takes a long period and this period is long enough for the world to run out of fossil fuel reserv es. Fossil fuels contribution is noticeable considering how the quantity of energy in a country affects both their economy and social life. In the world today the industrial, transportation, public service and residential sectors are been powered mainly by fossil fuel. Therefore, these different sectors where fossil fuels are majorly consumed underscore their important contributions to modern human society. One of the key uses of fossil fuels is to generate electricity. Coal is one of the major fuel sources for electricity generation. The relative low cost of coal and its abundance  added to the fact that it does not  require the upkeep of pipelines and security issues while transporting coal is an advantage over other sources of fossil fuels for generating electricity. Coal fuels the economy of countries, for example: China has about 30% of the worlds coal reserves and uses coal as their major energy supply, (OECD, 1998). Chinas industrial power which allow for economic growth depends virtually on coal (IEA, 2005). However Chinas dependence on coal has led to the countrys emitting about 39% of the total global CO2  emission. Burning coal produce useful by-product that are been used in the industrial sector mainly in steel plants and cement works, (Rohde, 1998). However, the environmental issues being raised by the global consumption of coal is of major concern. The toxins emitted from the combustion of coal and the waste from it mining process result in climate change and making the soil unproductive for agriculture, (OECD, 1983). Coal in comparison with the two other types of fossil fuels has more environmental impacts. According to the OECDS publication on coal and environmental protection states during exploration of coal to its end use coal has environmental implications: â€Å"During mining, treatment, transport and storage the sources of environmental concern can be summarized as subsidence, land use, liquid and solid waste, dust, noise, vibration and deterioration of surface and subsurface natural water systems. The major sources of pollution during combustion are air emissions of SOx, NOx  and particulates, and solid waste materials.†Ãƒâ€šÃ‚  (OECD, 1998) Source: BP coal consumption table, 2008. From:http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/reports_and_publications/statistical_energy_review_2008/STAGING/local_assets/downloads/pdf/coal_table_of_coal_consumption_2008.pdf Figure 1 above shows the increase in the rate of consumption of coal. There was a slight decrease in 1998 and 1999. This might be as a result of a reduction in consumption of coal in different countries. However, generally the rate of increase between years is not very much but if this increase rate is consistent over a period of time the quantity of coal consumed will be astronomical which implies that the environmental issues posed by coal will likewise be on the increase. In recent times, technological development and with some regulatory organizations that manages mining activities, the environmental issues are minimized. A careful comparison of the contributions of coal to the human society and its environmental implications makes the issue of coal controversial, (IEA, 1998). While the environmental implications posed by coal mining and usage are of concern, its contribution to modern human society requires that the action to be taken should be balanced with regards to its economical, energy and environmental impact. Oil like coal has contributed to modern human society in quite a number of ways. Unlike coal, it is easier and cleaner to burn and have a wider range of application. It is consumed the most among coal and natural gas. In fact the increase in demand of oil results in a lucrative international oil market. Therefore this lucrative oil market is an advantage to the oil producing countries because when either the rate of global demand, price or both increases these countries economy will be benefited. The major contribution of oil to modern human society is evident in the industrial and transportation sector. Most machines used in the industries make use of refined oil product. In the transportation sector aircraft and automobiles are examples of machines that make use of refined oil product. In addition, plastic and detergent are byproducts of oil. However, just like the other types of fossil fuels, the processes of exploration, refining, transporting and consumption of oil have an envir onmental implication. Firstly during exploration of oil, loss of drilling mud will result in escape of oil, (OECD, 1973). In an event where oil escapes, the case will be that the soil and/or the sea will be polluted. This will lead to loss of productive land for agriculture and possibly, extinction of the aquatic habitants in the surrounding sea. In addition to loss of drilling mud is the seismic technique for exploration. As a result of the loud and low frequency output, this technique endangers marine lives during offshore exploration, (Kennesaw State University, 2009). Another environmental issues associated with the process of refining oil is the methods which the refinery chooses to dispose oil waste. These wastes are sometime after being treated with a supposedly less harmful chemical is emptied into the sea. This chemically treated waste with time get to the point it becomes poisonous to aquatic life, (OECD, 1971). Also some gases are being emitted during refining and this leads to air pollution which harmful to both humans and animals. These gases can cause cancer and other diseases to humans if inhaled. Oil spill is the major issue with oil transportation. According to the article: Environmental science activities for the 21st  century published by Kennesaw State University: â€Å"Oil spill during transportation of oil account for an estimated 44 million gallons being dumped into the worlds water system, with 29 million gallons of this coming in the form of oil tanker spills†. Natural gas is an important source of energy for reducing pollution and maintaining a clean and healthier environment compared to coal and oil. In addition to being a domestically abundant and secure source of energy, the use of natural gas also offers a number of environmental benefits over other sources of energy, mainly other types of fossil fuels, (BP, 2006). The different uses of natural gas in modern human society make it an essential part of human life. Natural gas domestic uses are part of the many social impact it has on human society. Natural gas is convenient and it is being piped straight to the consumers facility which in contrast, oil must be trucked to the customers location, and truck deliveries are to liable to weather conditions. Natural gas is reliable, (BP, 2006). Natural gas is the cleanest burning fossil fuel. Because the combustion process for natural gas is almost perfect, very few byproducts are emitted into the atmosphere as pollutants. The blue flame seen w hen natural gas is ignited is a sign of perfect combustion. Natural gas is mainly used for domestic, commercial, industrial and power generation purposes. Firstly, the residential applications of natural gas are the most commonly known use of natural gas. It can be used for cooking, washing and drying, water warming, heating and air conditioning. Domestic appliances are increasingly improved in order to use natural gas more economically and safely. Operating costs of natural gas equipment are generally lower than those of oil and coal. It is mainly used commercially by food service providers, hotels, healthcare facilities and in office buildings. Also natural gas commercial applications include cooling (space conditioning and refrigeration), cooking or heating. Secondly, Natural gas is used as an input to manufacture pulp and paper, metals, chemicals, stone, clay, glass, and to process certain foods. Gas is also used to treat waste materials, for incineration, drying, dehumidification, heating and cooling, and cogeneration. In addition electric utilities and independent power producers are increasingly using natural gas to provide  energy for their power plants. In general, natural gas fuelled power plants have lower capital  costs, are built faster, work more efficiently and emit less pollution than other fossil fuel power plants, (IEA, 1998). Technological improvements in design, efficiency and operation of combined cycle gas turbines and co-generation processes are favoring the use of natural gas in power generation. Natural gas in a joint- electricity generation produces power and heat that is useful for industries as well as commercial users. This cogeneration reduces pollution emission considerably. Although the combustion of natural gas produces very little NOx, this chemical is however a toxic agents that results to acidic compounds and when combined with water and result in acid rain. Also, the length of the complex and extensive systems of pipelines in which natural gas are being transported through are in thousands of kilometers. Considering that natural gas in the pipe is in a condensate state, in the case of material defects and pipe corrosion to ground erosion natural gas will be exposed to the environment and in effect will pollute the air. Also, the technique of extracting natural gas is one of its disadvantages which are because of the creation of cavities in the ground during extraction. If natural gas is been inhaled in large amounts is harmful to humans. The gas is extracted from a natural gas field. The pressure exerted by the gas helps support the layers of soil above the gas field. When the gas is extracted, the soil pressure increases and cavities are created in the ground. These cavities can sometimes cause the ground to sink and the productive land for agriculture might be lost. Another environmental implication of natural gas is that the gas is toxic and can be poisonous. If the fields from which it was extracted were not treated, it can be toxic. The principle greenhouse gases include water vapor, carbon dioxide, methane, nitrogen oxides. Methane being the principle component of natural gas makes it a matter of concern with regards to greenhouse emission that results to climate change. Methane is a very strong greenhouse gas. In fact, it has an ability to trap heat almost 21 times more effectively than carbon dioxide, (naturalgas.org, 2004). Source: Chow, J. et al (2003). Energy resources and global development. Sciencemag.org, vol.: 302. In conclusion the different contributions of fossil fuels to the modern human society are very noticeable. The chart above shows the global fossil fuels consumption by sectorial end use. The contributions of fossil fuels are made evident in the different sectors mentioned above. Form this essay, it can be suggested that the global fossil fuels consumption be reduced and more regulation that will effectively minimize the environmental implications of fossil fuels. it will be helpful if manufacturers consider environmental factors when producing machines and appliances that is being powered by fossil fuels. Moreover, resolving the global dilemma presented by fossil fuels will require a collective effort of every human. Private Finance Initiatives: Advantages and Disadvantages Private Finance Initiatives: Advantages and Disadvantages PFI Principles The PFI, known as Private Finance Initiative, is a type of Public Private Partnership procurement method implemented in UK construction industry in 1992. (Chinyio and Gameson, 2009) As an important part of Governments strategy for delivering high quality public services, Private Finance Initiative requires the private financers to put its own capital at risk to deliver clear defined public projects for a long term period, ensuring the quality of the work delivered within the time and budget. (HM Treasury, 2009) OGC (2007, p.6) defined PFI as Where the public sector contracts to purchase quality services, with defined outputs from the private sector on long term basis, and including maintaining or constructing the necessary infrastructure so as to take advantage of private management skills incentivised by having private finance at risk. PFI has now covered most of public services such as health, education, defence, prisons and transportations. Typically, PFI procurement involves contracting the entire project package including design, construction, finance, operation and maintenance, to a group of private companies which consists of a reasonably skilled construction firm and a facility management firm, for a long period of 20 30 years. The government also provides specifications indicating the services and standards it requests, and leave the control right of design and construction and operation solely to the private group for the contract period. (Bennett and Iossa, 2006) It is only recommended for projects to take PFI route when the capital cost is likely to exceed  £20m. (OGC, 2007) Bennett and Iossa (2009) say that its more likely to use PFI procurement if the externality is positive and the innovation on residual value is large. Advantages Long-Term Relationship PFI is not only focusing on the value for money, it also stressed the development of long term relationship between public sector and private sector. Robinson and Scott (2009) indicates that long-term relationships in PFI projects can provide a powerful incentive in order to learn from each other, share the knowledge, innovate and continuously improve the performance between private sector and public sector in project delivery. Partnering is a crucial key of PFI procurement, the good performance of which will lead to the success of the project. Spackman (2002, pp.283-301) addresses Success can be achieved only if the public authority and the contractor approach the project in a spirit of partnership, wit understanding of each others business and a common vision of how best they can work together. Public Saving PFI/PPP procurement has the potential to reduce the cost, and deliver better quality work with the same cost in other procurements. (Bing and Akintoye, 2003) Research shows that the governments investment using PFI procurement in the UK is now about 10-14% in its total investment. (Grimsey and Lewis, 2005) Local authorities are keen to use PFI to deliver a project via partnership as they do not need to borrow money from the banks. Spackman (2002) finds the government constrains its borrowing because it concerns about future taxation, economic demand, costs of the borrowing, and flexibility responding to future economy shocks. The interest cost of public debit in UK is at 2-2.5 percent, however for the cost of private one is only about 1 percent. (Spackman, 2002) Anon (2009, p.3) declares that In the UK, lack of cash is forcing the government to look at using PPPs for more broadly. The saving for the government is not only from the borrowing tax aspect, but also in total value of the projects compared with traditional procurement. Parker and Hartley, 2003 (in Grimsey and Lewis, 2005) claim that PPP contracts for UK defence services save cost range from 5-40 percent compared traditional public procurement. Private Profit One of the benefits for private sectors to take PFI is that under the long term ownership, they can gain incomes and profits under their management and operation, or exchange benefits with the local authorities. Carrillo at el. (2008) indentifies that one of the key drivers for the motivation of the PFI is the steady and long term income stream and higher returns and profitability. Spackman (2002, pp.283-301) also mentions its easier to increase charges to meet a contract with a private operator than by voting in local or national government, and private financiers might regard income from users as a less risky source of revenue. Better Management Skills As private financers are more capable for management in business in various fields, the government believes that the private sector has a better role to offer project management skills, innovative design and facility and risk management. (Carrillo at el., 2008) Spackman (2002) stresses that the monitoring pressures on contractors from private sectors may be stronger than those from the public sector which is leading to a quality work. Long Term Contract In PFI, contractors are tied into a long-term commitment, so that it reduces that a contractor can walk away during the project if no sufficient funding is in place. Even though contracts might restrict this from happening, but it is difficult to design and impose broad articles and clauses in the contract for a long contractual period. (Spackman, 2002) Risk Transfer Risk transfer is also an important element for delivering a good PFI project. Carrillo at el. (2008) claim that PFI will reduce the risk level carried by the government and transfer it to the contractors. Grimsey and Lewis (2005, pp.345-378) concludes that The transferred risk is often a key determinant of value for money in PPPs, and one that may need to be updated as negotiations processed, to allow for variations in risk allocation. Apart from public procurement cost risk, there are also other risks such as site use, site operation and access, building standards, operations and management, financial conditions, maintenances and services, residual value and revenue etc. (Grimsey and Lewis, 2005) Those risks can all be considered and transferred to private side. In UK, there is a long list of samples for public funded projects being delayed or finished with over budget. Such risks being transferred from public sector to private sector through a PPP route is considered to be adding v alue for money for public project, as private sector will solely manage the project cost, time and quality. (Grimsey and Lewis, 2005) Less Construction Time PFI is considered to be one of the procurements which can deliver project under or on time. MacDonald, 2002 (in Grimsey and Lewis, 2005) reviewed 50 large UK public procurement projects in the past 20 years, and found 11 were using PFI/PPP, average of which were completed under-time. HM Treasury, 2003b (in Grimsey and Lewis, 2005) reviewed 61 PFI projects, 89 percent of which were completed under or on time. Compared with traditional procured projects, 30 percent of which delivered on time, PFI projects could be completed on time with a 76 percent. (UK National Audit Office, 2003, in Grimsey and Lewis, 2005) Delivery against Budget PFI is also considered to be one of the procurements which can deliver project under or on budget. HM Treasury, 2003b (in Grimsey and Lewis, 2005) reviewed 61 PFI projects, all of which were all finished within the budget. Compared with traditional procured projects finished with 27 percent on budget, PFI projects completed on budget with a 78 percent. (UK National Audit Office, 2003, in Grimsey and Lewis, 2005) Innovation Approach PFI schemes allow the private bidders to explore their appetite to develop creational and unique projects which can also meet the required standards from the government. (Bing and Akintoye, 2003) When the project is under the ownership of public sector, renegotiation between the private financiers and the public clients must be carried out before the innovation is applied. However, when the project is the ownership of private sector, following governments specifications, private financiers has own power and freedom to implement an innovative approach to meet its own requirements. (Bennett and Iossa, 2006) Disadvantages Time Taking Research shows that most suppliers complain that during the procurement, the PFI process takes too long for management decisions. (Spackman, 2002) Li (in Bing et al., 2005a, pp.25-35) claims that the most negative factor associated with PFI/PPP procurement is a lot of management time spent in the contract transaction, length delays in negotiation and high participation cost. Furthermore, Carrillo at el. (2008, pp.138-145) state that PFI projects are complex than traditional procurement taking longer lead-in time before the start of the construction. It also adds It is unsustainable for a private company to have staff involved on a project for a 5 years period without a positive outcome. Risk Allocation It is an advantage for public sector that their risks during PFI have been allocated away to private sections. However, it would be a shortcoming for private bidders to carry the risks somehow. OGC (2007, p.10) indicates that: construction projects are undertaken by the private sector, which are incentivised by having private finance at risk. High Cost According to research from Bing et al. (2005b), PPP/PFI procurement has problems such as high tender cost, complicated negotiation, innovation cost restrains and conflicting in objectives between stakeholders. Carrillo at el. (2008) also find complain from both of client and contractors that the costs for the bidding, design and construction are higher than the traditional procurements. Lack of Expertise There are still many public professionals not experienced with PFI as it is so complex to cope with. Carrillo at el. (2008) indicates that lack of expertise in public sector in terms of experience is one of the issues for PFI process. It adds further that the lack of expertise has negative impacts on the PFI projects, and the local authorities who are limited with the experience are also struggling to keep up the private partners, which influences the partnering development. Government Influence The government is somehow bombarded that it is trying to show positive sides of PFI as much as it can in order to encourage implementation of PFI. The research and studies carried out so far by the government have been using a limited amount of projects with certain focus. It is recommended to call for more independent and third party studies for a wide range of project research and collect feedback from the clients in all types of projects to analysis the PFI performance. (Carrillo at el., 2008) Procurement Comparison In order to procure the project of residential development for Wulfruna University in UK, PFI and Design and Build are taken into account for the project procurement. Comparison and analysis are carried out as following. Design Build Design Build is one of the popular procurement methods implemented in the construction industry. Since April 2000, DB has been nominated as one of the procurement recommendations along with PFI and Prime Contracting by the government body. (OGC, 2007) The basic principle of DB procurement is, as fig.1 shown, the client sets up the requirements and standards, and then forwards them to the DB contractor for the delivery of the work. There is always possible option for client to consult other design professionals for initial innovations and design concepts. Once, the client is contracted with the DB contractor, its responsibility of design involvement is totally reduced. Risks shifts to the DB project team, consisting of designers, suppliers and subcontractors, who will take full responsibility to carry out the design and construction of the projects. (OGC, 2007) Brief Analysis With the intention of analysis the brief, following key points have been indentified: Existing 12,500 students with 800 hall of residence and 450 on proposal Existing 65% males and 60% full timers Proposed 450 bed hall of residence Proposed building with comprised different types of accommodation Proposed building with a modern standard Proposed building to hire out to tourists or public members during holidays Analysis: The current student number is 12, 500, and full time student is about 7,500. But the number of the halls is only 1,250 (including the one on proposal). This figure is only about 16.7% of the current full time student number, if 1,2500 rooms are all counted as single units. There is a possibility of future development of more student halls of residence. If current full time student number is about 7,500 who need student accommodation, there could be about 4,875 male students. It is common that the maintenance and cleaning for the rooms rented out for male students are more likely harder and difficult than the ones for female students. So that the proposed building should be quality ensured with good maintenance scheme in place. 450 bed hall of residence with modern standard and mixed types of rooms could increase the project cost, and it is likely to over the  £20m limit. Such a number of students accommodation also needs a good management and administration. The requirement of different types of accommodation might involve variation during design stage of the project. A modern standard might involve client into the design for its appetite of innovation approach and standard. Renting out tourists and other public members could increase extra income for the owner. Good management and operation are required from experience management firms to provide professional services. PFI versus Design Build Project Time It is clearly indentified in the previous section that the majority of PFI project delivered under or on time. DB comes with 2 options for competing projects normally. One is fixed price project; therefore, the project will be delivered definitely within the budget or no extra costs for the clients if its over. But the time of the project is uncertain. The other option is fixed time project, which can guarantee the project time, but the cost of the work could be more than what clients expects. Therefore, in terms of project time, both PFI and DB are all suitable for the project. Project Cost PFI is considered to be cost efficient delivery, and it always meets the budget or even under the budget. But it may cost more for the bidding cost for the contractors. DB can apply fixed price option so that both procurement methods can meet the requirement of cost even though the cost requirement is not clear in this brief. However, and again, the time will not be guaranteed. Project Quality Due to PFI is involved a long term contract for the contractor and private financiers, it guarantee the quality and maintenance of the project. However, DB is somehow has more chance to deliver a less quality work depending on the morale and motivation of the contractor, contractor might reduce the quality of the work in terms of material or skilled labour etc to save a profit for its own. According to the analysis b, PFI is more favourable for the quality work in this project. Clients Involvement When the private financier claims the ownership, involvement of design is more likely to happen in order to input innovation approach to achieve the appetite of financiers own. Therefore variation is allowed to occur within the PFI. However, DB contractor process the project from design to construction, there is not involvement for the client. Any variation for the project will lead an extra fee to be implemented by the contractor. According to the brief analysis d and e, PFI is definitely better for DB in this case. Risk Allocation In PFI, risks will be transferred to the private financier for the development. In DB, client only have a single contractual link with the contractor, shown as in fig. 1. The risk the client carried is little and passes most of it to the contractor. Project Nature PFI procurement is suitable for complex project, in which the project cost is more than  £20m according to the introduction from OGC. DB, however, is also suitable for the complex project. As in the brief analysis c, it indicates complex types of accommodation requirement, both PFI and DB can procure this project. Partnering Approach It is no doubt that PFI is the only one procurement which required partnering for project compared with DB. Good partnering can lead to exchange of learning, knowledge sharing and improvement of delivery. In the brief analysis a, there is a potential development of student halls in the future if the number of students keeps increasing. Good partnering and relationship are the keys for quality delivery. PFI is then better than DB to be selected. Management Operation Maintenance PFI is a long term contractual practice which involves design, construction, management, operation and maintenance for a period of 20 to 30 years. Private sector sometimes has better management skills than public sector. Analysis f stresses the need of good Management and Operation, and also analysis b again claims the importance of maintenance. PFI, therefore, is once again the only option for this requirement contrasted with DB Selection Recommendation According to HM Treasurys Central Unit on Purchasing, 1992 (in Masterman, J.W.E., 2002), selection of an appropriate procurement method can be achieved following the following steps: Review of contract strategy Analysis Options Selection of best strategy Implementation The document suggests clients or project managers to score how each procurement method meet the requirement of the objectives in various aspects, in which way the evaluation of the procurement is carried out. (Masterman, J.W.E., 2002) As fig. 2 shown, each standard criterion has its own requirements relative weighting range from 1 to 4. A satisfaction score range from 1 to10 should then be given to the procurement matching with the standard criteria. After the scoring, a calculation should be done by using the procurement score on one of the criteria multiplied by the weighing for the matched criteria. Then add up all the results to get a total score. For instance, in fig. 2, the underlined figures show the timing weighing for the project and traditional procurements score on this aspect for the project, so it should be calculated as: 4 X 4 = 16, and 16 is the total score for the traditional procurements performance on timing. Then add the rest scores for variation, project nature et c. The more the score is, the more suitable the procurement will be. It is recommended that the client, the Wulfruna University, should firstly analysis and identify the importance of each objective for the entire project, and provide the scale weighing on the object criteria according to the importance level. Then follow the sample shown above to list common procurement methods and give a score to each one. In the end, to choose the most scored procurement for the student hall of residence project. However, there are also other types of selection, but the main principles are all similar to each other. Conclusion In this report, it has reviewed PFI procurement. The review has recognized PFI can provide quality project within the time and budget scale, freedom of innovation, long term relationship, risk transfer from public sector to private sector etc, but has also underlined some drawbacks such as long decision making, high bid cost and lack of experience for both side etc. Meanwhile, it has compared two chosen procurement types PFI and Design Build, both of which are recommended by the government body. According to the brief analysis, it has listed some key points and requirements for the projects and comparison against each requirement between PFI and DB are carried out. It is clearly that PFI can provide more to meet the requirement of the project brief. Furthermore, a recommendation for procurement selection is also provided with an example of how the procurement is selected is also presented. The recommendation stressed the importance of the analysis and identification of important req uirement of the objectives and standards for the project. References Anon (2009) The big hiccup.Public Private Finance[online]. February 2009:3. P.3 [accessed on 25th November 2009] Available from: Business Source Premier, EBSChost. ISSN 17420334. Bennett, J. and Iossa, E. (2006) Building and managing facilities for public services. Journal of Public Economics, 90(10-11), pp.2143-2160. Bing, L. and Akintoye, A. (2003) An Overview of Public-Private Partnership. in Akintoye, A., Beck, M. and Hardcastel, C. (eds.) Public-Private Partnership Managing Risks and Opportunities. Oxford: Blackwell Science Ltd. pp.3-24. Bing, L., Akintoye, A., Edwards, P. J. and Hardcastle, C. (2005a) The allocation of risk in PPP/PFI construction projects in the UK. International Journal of Project Management, 23(1), pp.25-35. Bing, L., Akintoye, A., Edwards, P. J. and Hardcastle, C. 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