The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private secto...The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private sector. This has a positive impact on the public in terms of improving their well-being. This literature review attempts to compare the challenges encountered in implementation of PPP projects across the world, with a view to determining cross cutting challenges and recommendations for developing countries. A literature review was conducted for empirical studies focusing on construction projects. The studies are reviewed by analyzing the methodology used and conclusions made to identify the geographical study area, Public Private Partnership project financing model, emerging challenges and recommendation for future project management. The literature search was based on four keywords: construction projects, completion of construction projects, public private partnership, challenges in construction projects. Thus, a total of 11 empirical studies were identified for review in Europe, Asia and Africa. The review revealed that most risk factors affecting project completion can be categorized as human and organizational factors and unknown geotechnical conditions that were not known beforehand. Specifically, project owners’ interference was also attributable to delays with the delays having significant implications for project execution. Risks have great impact on the performance of construction projects because they affect their quality, time and cost. The general remedy to such potential risk factors is adoption of reliable prediction mechanisms which would estimate those factors using a probabilistic model that does not rely on expert judgments as they tend to be unreliable.展开更多
The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article...The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article is to emphasize some standards of the PPP, in particular, within health services area which would guarantee a successful transformation process within the medical services market in Poland, and thus an appropriate division of financial and market risks among the public sectors, including local government sector and private partners within the health services area. Certainly, proper transformation solutions within that industry would significantly contribute to the stabilization of the local government＇s finance sector and higher resistance to the global financial crisis.展开更多
The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used ...The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used only represent the benefits of the private sector. There is, therefore, an urgent need to develop an equitable financial evaluation method for PPP projects. This paper presents a comprehensive literature review that examines international practices. An equitable financial evaluation method was then developed taking into account the inherent characteristics of PPP projects using six separate indicators and Monte Carlo simulations. The result for a bridge project in Romania shows that the method combines the viewpoints of all the relevant stakeholders to achieve an equitable financial evaluation of PPP projects.展开更多
Considering the rapid urbanization growth rate particularly in developing countries, the number of infrastructure mega-projects over the past years has risen tremendously. Essentially, because infrastructure megaproje...Considering the rapid urbanization growth rate particularly in developing countries, the number of infrastructure mega-projects over the past years has risen tremendously. Essentially, because infrastructure megaprojects require huge investment funds, better management skills, well qualified and experienced international expertise and technology innovation, they are mostly preferred to be procured using the PPP method compare to the use of the traditional bid-build system. In this regard, this paper aims to develop a fuzzy evaluation model for assessing the suitability of procuring infrastructure mega-projects through PPP by considering their risk exposure. The main body of Hong Kong-Zhuhai-Macao Bridge(HZMB)is used as a case project to demonstrate the practicality of the risk evaluation model. The risk evaluation model consists of four critical risk groupings, these include,construction and land risks, commercial risks, operational risks and political risks. Using the risk evaluation equation,a risk index of 4.53 out of 5.00 is computed for the selected project if it is procured through the PPP scheme. This outcome shows that the case project is not suitable for the PPP approach because its risk exposure is very high. The model developed will enable PPP practitioners to predict the likely risk exposure of procuring infrastructure megaprojects through the PPP scheme.展开更多
文摘The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private sector. This has a positive impact on the public in terms of improving their well-being. This literature review attempts to compare the challenges encountered in implementation of PPP projects across the world, with a view to determining cross cutting challenges and recommendations for developing countries. A literature review was conducted for empirical studies focusing on construction projects. The studies are reviewed by analyzing the methodology used and conclusions made to identify the geographical study area, Public Private Partnership project financing model, emerging challenges and recommendation for future project management. The literature search was based on four keywords: construction projects, completion of construction projects, public private partnership, challenges in construction projects. Thus, a total of 11 empirical studies were identified for review in Europe, Asia and Africa. The review revealed that most risk factors affecting project completion can be categorized as human and organizational factors and unknown geotechnical conditions that were not known beforehand. Specifically, project owners’ interference was also attributable to delays with the delays having significant implications for project execution. Risks have great impact on the performance of construction projects because they affect their quality, time and cost. The general remedy to such potential risk factors is adoption of reliable prediction mechanisms which would estimate those factors using a probabilistic model that does not rely on expert judgments as they tend to be unreliable.
文摘The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article is to emphasize some standards of the PPP, in particular, within health services area which would guarantee a successful transformation process within the medical services market in Poland, and thus an appropriate division of financial and market risks among the public sectors, including local government sector and private partners within the health services area. Certainly, proper transformation solutions within that industry would significantly contribute to the stabilization of the local government＇s finance sector and higher resistance to the global financial crisis.
基金the National Natural Science Foundation of China (Nos. 70471004 and 70731160634)
文摘The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used only represent the benefits of the private sector. There is, therefore, an urgent need to develop an equitable financial evaluation method for PPP projects. This paper presents a comprehensive literature review that examines international practices. An equitable financial evaluation method was then developed taking into account the inherent characteristics of PPP projects using six separate indicators and Monte Carlo simulations. The result for a bridge project in Romania shows that the method combines the viewpoints of all the relevant stakeholders to achieve an equitable financial evaluation of PPP projects.
基金supported by the Hong Kong Ph.D Fellowship Scheme from the Research Grants Council (RGC) of the Hong Kong Special Administrative Region and The Hong Kong Polytechnic University, Hong Kong
文摘Considering the rapid urbanization growth rate particularly in developing countries, the number of infrastructure mega-projects over the past years has risen tremendously. Essentially, because infrastructure megaprojects require huge investment funds, better management skills, well qualified and experienced international expertise and technology innovation, they are mostly preferred to be procured using the PPP method compare to the use of the traditional bid-build system. In this regard, this paper aims to develop a fuzzy evaluation model for assessing the suitability of procuring infrastructure mega-projects through PPP by considering their risk exposure. The main body of Hong Kong-Zhuhai-Macao Bridge(HZMB)is used as a case project to demonstrate the practicality of the risk evaluation model. The risk evaluation model consists of four critical risk groupings, these include,construction and land risks, commercial risks, operational risks and political risks. Using the risk evaluation equation,a risk index of 4.53 out of 5.00 is computed for the selected project if it is procured through the PPP scheme. This outcome shows that the case project is not suitable for the PPP approach because its risk exposure is very high. The model developed will enable PPP practitioners to predict the likely risk exposure of procuring infrastructure megaprojects through the PPP scheme.
