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OPP – fremtid, status og potentiale
OPP-projekter med succesPhillip GoltermannDrees & Sommer
Konferencesponsor:I samarbejde med:
Phillip Goltermann
10/2010
Advanced Training Academy
Project Implementation Strategies- Public Private Partnership and other Schemes
3
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
4
Agenda
about me
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
1
5
About me
Other functions, main focuses Responsible for buildings of public projects Responsible for buildings of healthy- and education projects technical asset management of portfolios sustainability ratings / greenbuilding
Career
1992-1998 Studies of architecture and civil engineering,
technical university of Aachen
1998-1999 Infrastructure Controlling at the State Municipality
since 1999 Projectmanager in planning and construction
at Drees & Sommer München
since 2005 Managing director Drees & Sommer Hamburg
since 2008 Partner of Drees & Sommer AG Holding
since 2010 CEO Drees & Sommer Nordic A/S
Drees & Sommer Nordic A/S
Frederiksborggade 15
1360 København
PhillipGoltermann
6
Drees & SommerDrees & Sommer worldwide
Portugal
Spanien
Frankreich
Groß-britannien
Irland
Estland
Nieder-lande
Deutschland
Dänemark
NorwegenSchweden
Finnland
Lettland
Litauen
WeißrusslandPolen
Slowenien
Slowakei
ÖsterreichSchweiz
Italien
Liechten-stein
Kroatien
Tschechien
Ungarn
Rumänien
Moldawien
Ukraine
Russland
Island
BulgarienSerbien
Griechenland Türkei
Bosnien-Herzigowina
MazedonienAlbanien
Montenegro
KasachstanBelgien
Australien
Australien
VAE
Oman
Saudi-Arabien
Israel
Ägypten
Irak IranLibanon
BahrainKatar
Middle East
Abgewickelte Projekteder Drees & Sommer-Gruppe
Standorte / TDD-Expertender Drees & Sommer-Gruppe
China
Mongolei
Japan
VietnamAsien
Luxemburg
Marokko
Georgien
Ägypten
7
Founded:
Employees:
Projects 2009:
Project volume supported 2009:
Group sales2009:
Earnings beforetaxes 2009:
Final invoicingeffect
1970
1,120
567
€ 7.1 Billion
€ 145.6 Million
€ 12.4 Million
10
20
30
40
50
60
70
80
90
100
110
1.5
3
4.5
6
7.5
9
10.5
12
13.5
15
16.5
18
21
2006 2007 2008
120
130
140
Drees & SommerFacts and Figures
150
2009
19.5
22.5
8
Project Management
Development management
Project management for infrastructure & transportation
Project management forbuilding construction
Construction management
General constructionmanagement
Risk management
Process consulting
Project management tools
Engineering
Technical & economicconstruction consulting
Green Building designfor new buildings
System planning & simulation
Planning, general technology planning
Life cycle engineering
Green Building optimizationof established properties
Energy management for commercial buildings & industry
Real Estate Consulting
Technical due diligence
Technical assetmanagement
Strategic property consulting
Crisis management fordistressed properties
Public Private Partnership
Facility managementconsulting
Green Building Labels
Organizational consulting
Drees & SommerService Fields
10
Agenda
about me1
Reference projects8
Project kick-off
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
2
11
QuickCheckQuickCheck
Förmliches Verfahren
Förmliches Verfahren
Standort, Due Diligence,
Bedarf, Machbarkeit
Standort, Due Diligence,
Bedarf, Machbarkeit
QuickCheck
PlanningTenderingContract award
Demolition,Disposal
Förmliches Verfahren
Förmliches VerfahrenFörmliches Verfahren
Use, operation, revitalization, modernization, conversion
ConstructionCommissioning
Standort, Due Diligence
Bedarf, Machbarkeit
Project developmentLocation Space needsInvestment needs
Expert knowledge
Owner's and user's "requests"
Budget/schedule require
ments
Standards, codes of practice
Qualities
Saving measures
The overall view: The life cycle of buildings
14
PSC = public sector comparator ("in-house realisation")PPP = public private partnership (“external realisation")
Stage 1 "Preliminary study"
"Implementation"
QuickCheckQuickCheck
PPP?PPP?
PPP!PPP!
UmsetzungsUmsetzungs
VertragsverVertragsver •Proof ofprofitability
Förmliches Verfahren
Förmliches Verfahren
•Competitive-prequalification•Bidding phase
MarkterkundungMarkterkundung
•Marketing•Fine tuning Project bases
VertragVertrag
Standort, DueDiligence,
Bedarf, Machbarkeit
Standort, DueDiligence,
Bedarf, Machbarkeit
QuickCheck
Process study (profitabilityforecast)
PPP?PSCor
PPP?
PPP!PPP!PPP!Market
researchyes/no?
Contract performancecontrolling
VertragsverVertragsverVertragsverContractnegotiations
Förmliches Verfahren
Förmliches Verfahren
-Förmliches Verfahren
Formal procedure
-
MarkterkundungMarkterkundungMarkterkundungMarketresearch
Preparation of marketresearch
• Transaction model• Risk matrix• Information memorandum
VertragVertragVertragContract
Standort, DueDiligence
Bedarf, Machbarkeit
Location Analysis of exist. bldg.
Demand Feasibility
PPP!
Stage 2 "Quick check"
Stage 3 "Market research"
Stage 4 "EU-wide tendering procedure
Decision-making process:Public sector comparator (PSC) or PPP!
• dynamic tendy prodedures• indikative / qualified proposals
15
Matters needing clarification or open issues on the part of the owner
Has the way of project implementation been defined? Are there any options /alternatives?
Feasibility study! Has the site been defined? Is there demand? risk evolution
Technical due diligence needed as a basis for further action?
Who is to do the planning work?
Planner according to VOF (German contract award regulations for freelance services), general planner, municipal authorities themselves, investor?
Project kick-off
16
Matters needing clarification or open issues on the part of the owner
Who is to carry out the construction work?
Award by individual lots/trades, general contractor, lead contractor subletting all of the works, leasing models, PPP etc.?
What transaction models are possible? financing alternatives
Opportunities and risks of operator/investor/PPP models?
Project sequence and timeline of the respective project implementation strategy?
What information needs to be provided by the public authority?
What costs are incurred for external support?
What costs internal Management?
Project kick-off
17
Definition of project type
Urban development?
General rehabilitation/refurbishment, revitalization, modernization?
New construction, expansion of existing building?
Type of use clear? School, office, place of public assembly, infrastructure, health?
What bases have already been established for the project?
Is plausibility checking of cost, implementation scenarios or deadlines necessary or requested?
Project kick-off
18
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
3
19
Suppliers' market is tightening!
A decision for one project implementation strategy needs to be made!Strategy of flexible reaction via “competitable dialoges” to optimize the market creative advokats
Operationevents(PPP)
Planning(lead
contractor)
Constructing(Konventionell )
Financing(self)
OperationFM
Operationevents
Operationevents
Planning(conventional)
Constructing(Generalcontractor)
Financing(self)
OperationFM
Operationevents
OperationFM
Financing(self)
Constructing(lead
contractor)
Planning(conventional)
Constructing(Investor)
FinancingInvestor
OperationFM
Operationevents
Operationevents
Planning(PPP)
Constructing(PPP)
Financing(PPP)
OperationFM
(PPP)
Planning(PPP)
OperationFM
(PPP)
Financing(PPP)
Constructing(PPP)
Planning(Investor)
1 4 52
ConventionalIndividual lots/trades
ConventionalGeneral contractor
Leadcontractor
Leasing orInvestor
PPPbuilding
PPPoverall project
3 6
Project implementation strategies
20
PSC = public sector comparator ("in-house realisation")PPP = public private partnership (“external realisation")
Stage 1 "Preliminary study"
"Implementation"
QuickCheckQuickCheck
PPP?PPP?
PPP!PPP!
UmsetzungsUmsetzungs
VertragsverVertragsver •Proof ofprofitability
Förmliches Verfahren
Förmliches Verfahren
•Competitive-prequalification•Bidding phase
MarkterkundungMarkterkundung
•Marketing•Fine tuning Project bases
VertragVertrag
Standort, DueDiligence,
Bedarf, Machbarkeit
Standort, DueDiligence,
Bedarf, Machbarkeit
QuickCheck
Process study (profitabilityforecast)
PPP?PSCor
PPP?
PPP!PPP!PPP!Market
researchyes/no?
Contract performancecontrolling
VertragsverVertragsverVertragsverContractnegotiations
Förmliches Verfahren
Förmliches Verfahren
-Förmliches Verfahren
Formal procedure
-
MarkterkundungMarkterkundungMarkterkundungMarketresearch
Preparation of marketresearch
• Transaction model• Risk matrix• Information memorandum
VertragVertragVertragContract
Standort, DueDiligence
Bedarf, Machbarkeit
Location Analysis of exist. bldg.
Demand Feasibility
PPP!
Stage 2 "Quick check"
Stage 3 "Market research"
Stage 4 "EU-wide tendering procedure
Decision-making process:Public sector comparator (PSC) or PPP!
• dynamic tendy prodedures• indikative / qualified proposals
21
New construction of a
municipal hall
Stage 1: "Preliminary study" (Analysis of existing buildings, location, need, feasibility, etc.)
22
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix
Quick check / profitability forecast5
Market research6
PPP7
4
23
Influenceability by Client
Individual lots/trades
General Contr.(design + key details)
Leasing PPP light PPP full
Owner's timeexpenditure
Urban development
Implement. planning
Preparation of specslevel of detail
Optimization potential
Bankruptcy risk
Cost risk
Claims risk
Risk of objections
Schedule risks
Operation (FM)
Operation (marketing)
Suitable project types ? ? ? ? ?Influence of Client decreases!
Stage 2: "Process study"
24
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast
Market research6
PPP7
5
25
EntscheidungskriterienVariante
1Variante
2Variante
3Variante
4Variante
5
Einzel-vergabe
GU/ Teil-GU(Basis Aus-führungs-planung)
GU (Basis
Entwurfs-planung)
GU (Basis
Vor-entwurf)
GÜ ABC PPP
Kriteriengruppe III: Organisationsstruktur 10%
III.1 Wahrscheinlichkeit Einbindung regionale Baufirmen 25% 3% 20 30 40 40 40 50 50
III.2 Wahrscheinlichkeit Einbindung regionaler Betreiber 50% 5% 10 10 10 10 10 10 50
III.3 Einbindung Hochbau- und Liegenschaftsamt 25% 3% 10 10 30 40 40 40 40
1,25 1,50 2,25 2,50 2,50 2,75 4,75
Kriteriengruppe IV: Projektbeeinflussbarkeit 20%
IV.1 Einfluss Architekt auf Planung/ Bau 50% 10% 10 10 20 40 50 50 50
IV.2 Einfluss BGK auf Planung/ Bau 25% 5% 10 10 20 40 50 50 50
IV.3 Einfluss BGK auf Betrieb 25% 5% 10 10 10 10 10 10 60
2,00 2,00 3,50 6,50 8,00 8,00 10,50
Kriteriengruppe V: Risikoverteilung 20%
V.1 Planungsrisiko (Genehmigungsfähigkeit, Mängel) 35% 7% 50 50 40 30 20 20 20
V.2 Baurisiko (Baugrund, Kosten, Termine, Konkurs) 10% 2% 50 40 40 40 30 30 20
V.3 Finanzierungsrisiko (Zins- u. Steueränderung) 20% 4% 50 50 50 50 50 20 20
V.4 Betreiberrisiko (Betriebskosten, Insolvenz, Mängel) 25% 5% 50 50 50 50 50 50 10
V.5 Vergaberechtliches Risiko (Vergabeanfechtung) 10% 2% 10 30 40 40 50 40 30
9,20 9,40 8,90 8,20 7,50 6,10 3,70
Vergabestrategie
Gruppenwertung
Gruppenwertung
Gruppenwertung
Example of Quick Check
assessment matrix
Example of Profitability
Forecast assessment matrix
Assessment in terms of:
- contract-award regulations
- legislation
- construction
- operation
- financing
- company law
Policy decision /
Political decision on the municipal
policy level
Stage 2.1: "Quick check or profitability forecast"
26
ERGEBNIS TEIL A
ERGEBNIS TEIL B
Diskontierte Vergleichsgröße:
Diskontierte Vergleichsgröße:
Sensitivitätsanalyse:
Sensitivitätsanalyse:
TEIL B - BETREIBERWIRTSCHAFTLICHKEIT
TEIL A - OBJEKTWIRTSCHAFTLICHKEIT
Investitionskosten nach DIN 276
HNF 1
KGR 100
KGR 200
KGR 300
KGR 400
KGR 500
KGR 600
KGR 700
∑
in €uro
HNF 1
HNF 2
HNF (…)
HNF 7
HNF 1
HNF 2
HNF (…)
Reattraktivierung nach DIN 276
HNF 1
KGR 100
KGR 200
KGR 300
KGR 400
KGR 500
KGR 600
KGR 700
∑ i
n €uro
HNF 1
HNF 2
HNF (…)
HNF 7
Finanzierung
Finanzierungskonditionen PSC
vs.
Finanzierungskonditionen PPP
Nutzungskosten
(Eigentümer)
nach DIN 18960
HNF 1
HNF 2
HNF (…)
HNF 7
Finanzplan
PSC Finanzplan
PPP
Ausgabenermittlung
Business - Plan - K
omponente 2:
Betreiberkosten
Nutzungskosten nach DIN 18960
HNF 1
HNF 2
HNF (…)
+ Risikobewertung
+ Risikobewertung
+ Risikobewertung
HNF 1
HNF 2
HNF (…)
Risiko 1
Risiko 2
Risiko (…)
+ Risikobewertung
+ Risikobewertung
erwirtschaftete Miete
Business - Plan:
Summe ¢ jährlichen Einnahmen
Summe ¢ jährlichen Ausgaben (ohne Miete)
= R
ohertrag
HNF 1
HNF 2
HNF (…)
HNF 7
Business
- Plan
Nutzungs-
kosten -
Ermittlung
Investitions-
kosten -
Ermittlung
Reattrakti-
vierung
Ausgaben-
Ermittlung
HNF 1
HNF 2
HNF (…)
HNF 7
erwirtschaftete Miete
OBJEKTWIRTSCHAFTLICHKEIT
Investitionskosten
=
Finanzierungsbetrag
Ermittlung
der
Nutzungskosten
Ermittlung
der
Ausgaben
Finanzierungskosten
+
Nutzungskosten
=
Gegenüberstellung
der Einnahmen
und Ausgaben
Ermittlung
der
Investitionskosten
jährlicher Überschuss bzw. jährlicher
Abmangel
HNF 1
HNF 2
HNF (…)
Ergebnis Vorprojekt (Ausgangssituation):
NUTZUNGSKONZEPTION
Nutzung/-en gegliedert
nach DIN 277
Kostenmiete
=
VERGLEICH DER
VARIANTEN
BETREIBERWIRTSCHAFTLICHKEIT
VERGLEICH DER
VARIANTEN
Ertragsermittlu
ng
Variation der Eingangsgrößen
wie z.B.
- Baukosten
- Finanzierungskonditionen
- etc.
Business - Plan - K
omponente 1:
sämtliche Erträ
ge
+ Risikobewertung
HNF 1
HNF 2
HNF 4
HNF 5
HNF 6
HNF 7
HNF 3
Ermittlung
der
Erträge
Ertrags -
Ermittlung
HNF 1
HNF 2
HNF (…)
HNF 7
HNF 1
HNF 2
HNF (…)
PSC -
KAPITALWERT
PPP -
KAPITALWERT
Variation der Eingangsgrößen
wie z.B.
- Einnahmen
- Ausgaben
- etc.
PSC -
KAPITALWERT
PPP -
KAPITALWERT
TEIL A´:
PSC -
BETRACHTUNG
PPP -
BETRACHTUNGTEIL A´´:
TEIL B´´:
PSC -
BETRACHTUNGTEIL B´:
PPP -
BETRACHTUNG
ERGEBNIS
ERGEBNIS
- Risk analysis
- Provide evidence of profitability of the facility
- Provide evidence of efficiency of operator
- Clarify need for subsidies
Stage 2.2: Methodology of "PSC / PPP profitability forecast"
27
DATUMVERSION Merkmale
BAUHERR Große Kreisstadt ReutlingenPROJEKT Neue Stadthalle - Bruderhausgelände 100% Fremdkapitalfinanzierung
ORT Reutlingen mit EinredeverzichtBGF 9.000 m² BGF 30 Jahre Laufzeit
Vorteilhaftigkeit in % in Euro netto
0% - €
5% 16.948.000 € - €
oder5% 342.000 €
KGR 300 Baukonstruktion Kennwert 868 €/m² BGF 5% 7.419.500 € KGR 400 Technische Anlagen - inkl. Bühnentechnik inkl. Hebebühnen Kennwert 1.023 €/m² BGF 5% 8.749.500 €
5% 437.000 €
0% 1.830.000 € 0% 1.830.000 €
- €
4. KGR 700 Baunebenkosten (Gesamtsumme) x % von KGR 3+4+5+6 22% 18% 20% 3.400.000 € (Bauausführung ohne Projektsteuerung)
8% 5% 1.980.000 €
oder
0% 0 €
7,08% 24.160.000 €
zuzüglich Baupreissteigerung pro Jahr BPSt. in % 1,5% 2.520.000 €
Jahr 2005: 1 1,5% 1,5% 360.000 € jeweils zzgl. 1,5 % pro Jahr Jahr 2006: 2 1,5% 1,5% 360.000 €
Jahr 2007: 3 1,5% 1,5% 360.000 € Jahr 2008: 4 1,5% 1,5% 360.000 €
BaubeginnJahr 2009: 5 1,5% 1,5% 360.000 € Jahr 2010 6 1,5% 1,5% 360.000 € Jahr 2011 7 1,5% 1,5% 360.000 €
7,14% 26.680.000 €
zuzüglich Zwischenfinanzierung 5,0% 1.667.500 €
6,03% 28.347.500 €
0%1.1.2 Projektsteuerung bis Entscheidung PPP (Wirtschaftlichkeitsprognose) in Vorprojekt enthalten1.1.3 Projektsteuerung bei PPP-Entscheidung 200.000 €
50.000 € bis Entscheidung PPP (Wirtschaftlichkeitsprognose) in Vorprojekt enthalten bei PPP-Entscheidung 50.000 €
in Vorprojekt enthalten
in Vorprojekt enthalten
in Vorprojekt enthalten
in Vorprojekt enthalten
1,79% 550.000 €
Gesamtsumme:
Einbau Möblierung
KGR 200 Erschliessung
KGR 500 Aussenanlagen
3. KGR 600 Ausstattung (Gesamtsumme)
5. Risikokosten (Summe der Risikokosten aus Investition)
Medien (Präsentationsmedien wie Bildschirme, Beamer etc.) werden geleast bzw. gemietet
16.11.2007
Vergleich Gesamtkosten Investitions-/ Transaktions- und Verwaltungskosten
Stadthalle
--> zurück zur Übersicht
PPP (=Realisierung durch Privaten)
in Euro netto
- €
4.250.000 €
26.000.000 €
1.830.000 €
460.000 €
1.830.000 €
17.840.000 €
Gesamtumme Investition
390.000 €
390.000 € 390.000 €
Baukosten gesamt inkl. Außenanlagen
7.810.000 € 360.000 €
2.080.000 €
2.730.000 €
390.000 € 390.000 €
390.000 € 390.000 €
Gesamtsumme Investition inkl. Baupreissteigerung 28.730.000 €
INVESTITIONSKOSTEN
1. KGR 100 Grundstück (Gesamtsumme)
9.210.000 €
INVESTITIONSKOSTENPSC (=Eigenrealisierung)
- €
2. KGR 200 - 500 Baukosten (Gesamtsumme)
1
Slide 27Stage 2.2: Methodology of "Profitability forecast"Example: Reutlingen municipal hall
28
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research
PPP7
6
29
Stage 3: "Market research"
Stage 1 "Preliminary study"
"Implementation"
QuickCheckQuickCheck
PPP?PPP?
PPP!PPP!
UmsetzungsUmsetzungs
VertragsverVertragsver •Proof ofprofitability
Förmliches Verfahren
Förmliches Verfahren
•Competitive-prequalification•Bidding phase
MarkterkundungMarkterkundung
•Marketing•Fine tuning Project bases
VertragVertrag
Standort, DueDiligence,
Bedarf, Machbarkeit
Standort, DueDiligence,
Bedarf, Machbarkeit
QuickCheck
Process study (profitabilityforecast)
PPP?
PPP!PPP!PPP!Market
researchyes/no?
Contract performancecontrolling
VertragsverVertragsverVertragsverContractnegotiations
Förmliches Verfahren
Förmliches Verfahren
-Förmliches Verfahren
Formal procedure
-
MarkterkundungMarkterkundungMarkterkundungMarketresearch
Preparation of marketresearch
• Transaction model• Risk matrix• Information memorandum
VertragVertragVertragContract
Standort, DueDiligence
Bedarf, Machbarkeit
Location Analysis of exist. bldg.Demand Feasibility
PPP!
Stage 2 "Quick check"
Stage 3 "Market research"
Stage 4 "EU-wide tendering procedure
PSCor
PPP?
PSC = public sector comparator ("in-house realisation")PPP = public private partnership (“external realisation")
• dynamic tendy prodedures• indikative / qualified proposals
30
Bidding volume of a PPP tender
Investment cost(about 2 years)
Operation cost(1st – 7th year)
Operation cost(8th – 14th year)
Operation cost(15th – 21st year)
Operation cost(22nd – 28th year)
Energy
Staff
Maintenance
Repair & servicing
AdministrationRisk ?
Planning andconstruction cost
Life cycle cost
Project life cycle
Prepare
information memorandum,
including all outline data!
Energy
Staff
Maintenance
Repair & servicing
Risk ?
Energy
Staff
Maintenance
Repair & servicing
Risk ?
Energy
Staff
Maintenance
Repair & servicing
Risk ?
20% cost impact 80% cost impact
Stage 3: PPP/PSC market research
31
Forfaiting ofguaranteeduser fee(to be checked)
Stadt GöppingenCity of Göppingen
BankBankDebt capital-80 - 90%
Guaranteeduser fee
BauConstruction Betrieb der HalleOperation of the hall
ArchitektenArchitects
FachplanerSpecialist planners
BauausführungExecution of construction
Gebäudebetrieb KonsortiumFacility operation consortium
Eventmanagement Konsortiumoder
FrischAuf!/saltico
Event management consortiumor
FrischAuf!/saltico
Projektgesellschaft/Konsortium
-Halle
Project companyConsortium
-Halle
ContractAuftrag/ Vertrag
Projektleitung/Projektsteuerung (Vertreter des Nutzers)
Project Mgm't/Project Controller (User's representative)
Contract
Waiver of defense forguaranteed
user fee(to be checked)
Stadt Göppingen (Schulsport)/ FrischAuf!
City of Göppingen (school sport)/ FrischAuf!
Entitlement todays of use
Coo
rdin
atio
n/!q
ualit
y co
ntro
l Werklohnvergütung mit
Stundungsvereinbarung
- Frisch AUF!- Zuschuss Land
(überregionale Sportstätte)- Namensrecht
- FrischAUF! (Sports club)- State subsidies
(supra-regional sports facility)- Right to the name
Define corporate law framework
in consultation with municipal finance
and legal departments !!!
Stage 3: Market research – transaction model
32
Objective
Define feasibilities on the basis of current market surveys
Transaction model, project structure
Financing / capital expenditure
Deadlines / duration of use
User(s), operator, tenant
Scope of tender (spaces and qualities)
Planning and building right
etc.
On this basis, a project decision by the owner can
be brought about
Market research
33
Agenda
about me1
Reference projects8
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
34
Stage 4: EU-wide tendering procedure
Stage 1 "Preliminary study"
"Implementation"
QuickCheckQuickCheck
PPP?PPP?
PPP!PPP!
UmsetzungsUmsetzungs
VertragsverVertragsver •Proof ofprofitability
Förmliches Verfahren
Förmliches Verfahren
•Competitive-prequalification•Bidding phase
MarkterkundungMarkterkundung
•Marketing•Fine tuning Project bases
VertragVertrag
Standort, DueDiligence,
Bedarf, Machbarkeit
Standort, DueDiligence,
Bedarf, Machbarkeit
QuickCheck
Process study (profitabilityforecast)
PPP?
PPP!PPP!PPP!Market
researchyes/no?
Contract performancecontrolling
VertragsverVertragsverVertragsverContractnegotiations
Förmliches Verfahren
Förmliches Verfahren
-Förmliches Verfahren
Formal procedure
-
MarkterkundungMarkterkundungMarkterkundungMarketresearch
Preparation of marketresearch
• Transaction model• Risk matrix• Information memorandum
VertragVertragVertragContract
Standort, DueDiligence
Bedarf, Machbarkeit
Location Analysis of exist. bldg.
Demand Feasibility
PPP!
Stage 2 "Quick check"
Stage 3 "Market research"
Stage 4 "EU-wide tendering procedure
PSCor
PPP?
PPP!
PSC = public sector comparator ("in-house realisation")PPP = public private partnership (“external realisation")
• dynamic tendy prodedures• indikative / qualified proposals
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Public-Private Partnership
Definition – What is “PPP“ / “OPP“?
Planning, financing, construction (or conversion, rehabilitation, modernization) and operation of public assets (e.g. infrastructure facilities, supply facilities etc.) General rehabilitation/refurbishment, revitalization, modernization?
Important!
PPP is not a privatization of public facilities – it is rather a continuation of the public purpose with the assistance of private investors
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Planning in consideration of the entire life-cycle and of marketing needs.
Financing on a level similar to that of local authority loans for a subproject only, complemented by additional, privately financed subprojects.
High-quality construction in consideration of the entire life cycle.
Operation of a building that is optimized with regard to operation and maintenance cost, additional operating services such as letting, marketing, event management, re-enhancing of attractiveness.
PRIOR to the tender, a market analysis is carried out to find out which operators can offer the operation of a specific property, and based on which concepts.
Example: multifunctional halls, leisure swimming pools, public buildings with blanket use (operation & marketing/management by a private player).
Characteristic features of properties run by operating companies
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Europaweite Bekanntmachung
TeilnahmewettbewerbAuswahlkriterien: Fachkunde
Leistungsfähigkeit
Zuverlässigkeit
Functionality, conceptArchitecture/aesthetics/urban dvpm't
Europe-wide announcement
PrequalificationSelection criteria: Expertise
Performance(esp. economic) Reliability
Negotiation procedure with the selected biddersPotential award criteria: Price Sustainability
Quality of building, of operation
Initial profitability forecast
Market research
Abschließende WirtschaftlichkeitsuntersuchungAbschließende WirtschaftlichkeitsuntersuchungAbschließende WirtschaftlichkeitsuntersuchungFinal profitability analysis
and approval by the supervising authority
PPP project process
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Client
Bankruptcy of Contractor
Risks
HR risk
Risks that may become
relevant to either party
Site risk
Liability
Level of moderness
Disposal
Construction material risk
PPP Partners
Planning
Permit
Construction
Schedule
Force Majeure
Operator's risk
Maintenance
HR
Force Majeure
Operation
Financing
Construction/ planning
Risks structure in PPP projects
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Agenda
about me1
Reference projects
Project kick-off2
Implementation strategies3
Impact matrix4
Quick check / profitability forecast5
Market research6
PPP7
8
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300 workplaces on a net internal area of about 6.000 m², next to the existing district office building
PPP tender for planning, construction, financing and operation
Profitability forecast Prequalification Functional specification Technical assistance in the procedure Coordination and decision-making meeting Project controlling, including claims review and
inspection of samples BGF: 44.300 m² Costs (net): 48 Mio. €
PPP Project: Esslingen District Office Building
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1. Evaluation of architecture, with minimum score 2. Evaluation of price Bidders achieving the best score in the overall evaluation were invited to
take part in the further procedure
(2) Economic efficiency
- urban development- architecture- functionality
- Building cost- Operating cost/letting- Construction qualities- Financing
2-5 designs
Economic evaluation
Architectural / urban development evaluation of designs made anonymous by the project control team and experts brought in on an as-needed basis
Overall evaluation
(1) Planning
Bid submission
PPP Project: Esslingen District Office Building
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2-stage PPP tender followed by negotiations
Use: intensive care unit, emergency room, cardangiography unit, ambulant operating room, practice space, patients' rooms, dialysis center, chemotherapy
Space eligible for subsidies: 3,300 m² Prequalification Urban development/architectural "competition" Tender based on functional specifications Negotiations Current project status: assigned BGF: 16.500 m² Costs (net): 34 Mio. €
PPP Project: New Construction of Ruit Healthcare Center
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PPP-Projekt: Neubau Gesundheitszentrum
Pläne
Plans
3-5 partici-pants
Bid
€
Bldg. services
Energy
Supply/disposal
Medical technology
concept
Pläne
Plans
5-8 partici-pants
PrequalificationPhase 1
Bidding and negotiation procedurePhase 2
Stage 1:Planning competition
Stage 2:Detailed bid preparation and award
negotiations
Sending out of tender documentation
Sending out of supplementary tender documentation
Architectural/urban development evaluation of anonymized designs
Subsequent negotiations
Selection of participants
Evaluation and shortlisting of bidders for next bidding phase
- Building cost- Operating cost- Constr. Qualities- Financing
- Urban devpm't- Architecture- Functionality- Expandability
Economic criteria:weight: 50%
Planningweight: 50%
Negotiations with 2 – 3 bidders
Final negotiation with preferred bidder
Final evaluation
Final analysis, decision & approval
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Construction works New building of a healthcare center linked to existing facilities Subletting of functional units must be possible Autonomous building Interfaces with existing facilities: medical gases, IT network, telephone system, paging
systems and pneumatic delivery systems
Operating services Maintenance (repair, servicing, inspection) across all cost groups Power supply (general consumption quantity guaranteed) Cleaning Supply and disposal Caretaker and administration
PPP Project: New Construction of Ruit Healthcare Center
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2. Urban development and planning framework
1. General task
3. General building requirements
4. Space group requirements
5. Cost group 200 Preparation and access infrastructure
6. Cost group 300 Building/building structure
8. Documentation
Specifications as to which rooms (4.) have to be meet what surface, material and other fit-out requirements (6.) are defined in the fit-out matrix
Fit-out matrix / building space utilization book
PPP Project: New Construction of Ruit Healthcare Center
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An investor for the planning, construction, financing and 20-30-year-operation of a
multifunctional hall with a hotel and integrated sports academy was sought. The public building
complex is being built on the former Nestlé site, with an area of 15,000 square meters.
Project volume: approx. € 50 million
Implementation strategy – Consideration of PSC (= public sector comparator) vs. PPP
(=public private partnership)
Tendered within the scope of a PPP negotiation procedure
9 bidders applied for prequalification, 3 bidders were invited to submit bids
Contract awarded to BAM Deutschand AG, operation of the hall for 20 years
Scheduled opening date: 30 Sept. 2009
PPP Project: Ludwigsburg Multifunctional Hall with Hotel, Business House and Parking
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Analysis of market and needs
Feasibility study
Profitability forecast and
project implementation strategy (PPP vs. PSC)
Market research
(preparation of information memorandum)
Prequalification (review of suitability of bidders)
Negotiation procedure
(preparation of tender documentation)
Construction site controlling
Acceptance and handing-over of property, and operation
PPP Project: Ludwigsburg Multifunctional Hall
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Ruit Paracelsius hospital Esslingen district office Bodenseekreisdistrict office
Friedrichshafen vocationalschool
Rehabilitation of schooland central kitchen inSchwäbisch Gmünd
Sale of old Tübingen district office
New construction of Remshalden town hall
New construction ofLudwigsburg multifunctionalhall
Ulm multifunctional hall
Other reference projects in the PPP sector
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New Construction of the Motorway M51 Kliplev – Sønderborg (Danmark)
Drees & Sommer Services Due Diligence/Technical Advisor Independent Engineer Public Private Partnership (PPP)
Project Description
Technical Advisor and Independent Engineer
Valuation report in the course of the PPP-Process New Construction of the Highway M51 Kliplev-Sonderborg (26 km).
023-7406b
Project Costs > 100 Mio. € net
Project Period 09/2009 - 03/2012
Building Owner KMG Konsortium NIBC, Bavaria LB, BBVA
Project infomations 26 km new Construction of
the Higway 4-lanes 69 Buildings 3 big Bridges
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Organisational statement
bidding consortium
KonzessionsgeberBRD
Finanzierung
Planung & Bau
Straßenbetrieb
Advisor
Technology
Bau-firmen
BankenStrabag Banken
Financing
Planning & Construction
Road-Operated
Road-Conservation
BankenBanks
LicenserDRD
Authorization
Traffic
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New construction
Clearly defined use
Long-term commitment (25 years and longer!)
Operation: Facility management and marketing by a single player
Planning by investor
Marketability increases if planning, building and operation (FM, controlling and marketing) are provided by a single player
Investor manages its own human resources
Controlling
Influence of user’s needs
Deficiency guarantee issued by local government
Forfaiting with waiver of defense
Local government participates without or with very little equity
(important: always subject to permission by regional government – transaction similar to loan transaction)
Factors of success for PPP implementation
PPP implementation always
depends on site, mix of usages and
administrative framework
Conclusions: PPP implementation strategy
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Builing operation consists of more components than just cleaning, caretaker service
and maintenance
The usage and operation concept is developed jointly with the market
Long-term commitment (15 years and longer!)
Operation by private specialist, integration and significant influence in planning and
construction
Private player manages its own human resources
Public buildings or tasks can be made more attractive by "blanket usages" and in part
be co-financed privately
(e.g. hall, hotel or bath operation, event of letting management)
The concept for planning and
construction must be identified and
developed further jointly with the
operator.
Conclusion: Operator-run property
Project boundary conditions