ABSTRACT
The participation of private partners in Public Private Partnerships (PPP) projects guarantees a redistribution of project risks; moreover, the financial structure of such initiatives is another important aspect, both in terms of financing sources and in terms of balance among them. The attention of specialists has been focused on the conditions under which governments should use PPP: with this aim in mind, the concept of Value for Money (VfM) is used and the approaches and techniques to evaluate it are analysed. Project financing is considered by a number of specialists as being undeniably advantageous with respect to the more traditional procurement practices. Project finance schemes assign direct responsibilities to private parties so that they are encouraged to develop good-quality projects which can be optimized in the long term. Qualitative desirability verifications are accompanied, in principle, by quantitative analyses of VfM that define incomes or costs accrued as a consequence of expected advantages or disadvantages.
