Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/26670
Title: Employing the net present value-consistent IRR methods for PFI contracts
Authors: Chiang, Y 
Cheng, E
Lam, P 
Keywords: Financing
Investments
Decision making
Revenues
Issue Date: 2010
Publisher: American Society of Civil Engineers
Source: Journal of construction engineering and management, 2010, v. 136, no. 7, p. 811-814 How to cite?
Journal: Journal of construction engineering and management 
Abstract: The internal rate of return (IRR) is a common financial indicator for private finance initiative (PFI) projects. Due to the long and complicated cash flow nature of PFI projects, more plausible IRR techniques are necessary for appropriate project evaluation and ranking. However, not all the published articles researching on IRR techniques are reliable. Given the importance of computing the profitability of PFI projects, this paper is intended to introduce three reliable IRR methods, which are proven to be consistent with net present value. Examples are used to illustrate their utility. The paper is of high value as it guides industry’s practitioners to use proper IRR methods for selecting PFI projects. It also provides academic researchers a platform to explore more robust methods.
URI: http://hdl.handle.net/10397/26670
ISSN: 0733-9364
EISSN: 1943-7862
DOI: 10.1061/(ASCE)CO.1943-7862.0000179
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