# A BIM-Based Value for Money Assessment in Public-Private Partnership: An Overall Review
## 1 Introduction  
The public-private partnerships (PPP) model has been well-implemented for project concessions by developing countries to replace the traditional procurement model. In general, PPP remain popular and continue to be implemented into infrastructure project plans [1]. PPP provide the initial life cycle ambitions in a strategic plan when there is substantial concern about the value for money (VfM). Holistic means are required to provide better VfM as a fundamental part of PPP model implementation [2]. The VfM assessment conducted in the initial stages of PPP plays a crucial role in financial evaluation, which informs the decision on whether a PPP model is viable or not. However, the current VfM process draws from multi-sources with second-hand data, and decisions are made without an adequate information exchange between the involved parties [3]. The consequent lack of information makes it difficult for the public sector to evaluate whether the cost is commensurate with the benefits and risks [4]. Reports [5] by the European PPP Expertise Centre (EPEC) indicated that the capability and critical drivers of the consultative machinery used in a large number of PPP projects are questionable, lacking reliable information to support VfM assessments. The PPP model does not \"bring extra money\" in many cases and has failed to meet the risk transfer targets in many cases [6]. Although the VfM assessment in some projects is recognised to be well-completed, launching the automation and intelligence of the assessment itself still has its potential; to stress, the whole life cycle benefits to a greater extent. However, the existing VfM assessments were made without the support of real-time engineering data [7]. In the public procurement workflow, building information management (BIM) has the potential for clients, mainly governments, to become involved in project management. The BIM models have the potential to function as an inspection aid but are more applicable to management. Currently,BIM-related technologies are used to build integrated management systems in infrastructure projects. [PERSON] et al. [PERSON] et al. (2018) pointed out that BIM has not been extensively used to deliver measurable estimates. There is a possibility of \"future-proofing\" PPP projects using performance-based asset information provided by the BIM. Toward achieving this concept based on the VfM assessment, the relevant research and documents are reviewed to answer the following questions:  
(1) Do the current VfM assessments meet the requirement of this concept? (2) To what extent can the VfM contents be related to the BIM, and is it possible to build a BIM-supported VfM assessment? Based on the previous research work relating to BIM and its value for a money assessment, this paper aims to address these research questions. Some contents in this article are referenced by previous PhD research works ([PERSON] and [PERSON], 2019). To conduct a comprehensive review of this topic, the following research is reviewed:  
1. Relevant literature focused on PPP performances in order to summarise the most important indicators of procurement. 2. VfM content by summarising the guidance of both quantitative and qualitative assessments. 3. PPP policies and legal frameworks in different countries, as well as in-depth investigations from the published PPP project documents in China to indicate the VfM application status. 4. BIM-based research aligned with the VfM and other key performance indicators to further analyse the emerging operational framework. The core objective of this paper is to identify the VfM application status and align it with the BIM-based approach. The review process of the VfM and BIM are conducted separately and then synthesised to explain that the performance requirement of VfM can be supported using the BIM as the necessary information query and function platform. A decision-making framework of BIM-based VfM is discussed in the conclusion.