A Framework for the Risk Management of Private Finance Initiative Projects

Beck, Matthias; Hardcastle, Cliff; Chinyio, Ezekiel; Asenova, Darinka

doi:10.1002/9780470690703.ch18

Cited by 59 publications

(69 citation statements)

References 3 publications

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“…Many researchers (Akintoye et al 2001;Corbett and Smith 2006;Jefferies et al 2002;Li et al 2005, Zhang 2005) have found that project financing is a key factor for private sector investment in public infrastructure projects. The availability of an efficient and mature financial market with the benefits of low financing costs and diversified range of financial products would be an incentive for private sector taking up PPP projects.…”

Section: Available Financial Marketmentioning

confidence: 99%

A comparative study of critical success factors for public private partnerships (PPP) between Mainland China and the Hong Kong Special Administrative Region

et al. 2012

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PurposeThis paper aims to explore the Critical Success Factors (CSFs) necessary for adopting Public Private Partnerships (PPPs) in both mainland China and Hong Kong.Design/methodology/approach An empirical questionnaire survey was conducted with relevant experienced practitioners in mainland China and Hong Kong. FindingsBoth mainland China and Hong Kong have been keen to deliver more infrastructure service projects through PPP mode, with the former aiming to meet its rapidly growing infrastructure demand and the latter uplifting its efficiency further. The results indicate that Hong Kong does not regard multi-benefit objectives as importantly as mainland China. Mainland China on the contrary felt more concerned with an equitable risk sharing mechanism, which is understandable given the problems affecting the financial market in mainland China. Originality/valueIt is anticipated that the results presented in this paper will assist both the public and private sectors to deliver PPP projects more successfully.

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Section: Available Financial Marketmentioning

confidence: 99%

A comparative study of critical success factors for public private partnerships (PPP) between Mainland China and the Hong Kong Special Administrative Region

et al. 2012

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“… Exposed critical success factors (for instance; Akintoye et al, 2001;Qiao et al, 2001;Jamali, 2004;Zhang, 2005;Li et al, 2005bJefferies, 2006Abdul-Rashid et al, 2006, Corbett & Smith, 2006, El-Gohary et al, 2006, Tang, L et al 2009，Chan et al, 2010 .…”

Section: Development and Operation Process Of The Beijing National Olmentioning

confidence: 99%

Comprehensive Objectives for PPP Projects: Case of Beijing Olympic Stadium

Chinyere¹

2013

IJBM

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This paper is concerned with issues relating to the need for clear and comprehensive objectives by parties to Public-Private Partnership Projects: the case of Beijing Olympic Stadium, which is the first Public-Private Partnership project (PPPs) sporting complex in china. The discussion is illustrated by reference to the numerous risks encountered throughout the development and construction of the project and also revealing the concessional agreement that lead to the use of public private partnerships in building the 2008 Beijing Olympic Stadium. The paper begins by discussing the definition of PPP, nature, development, competitive bidding, total investment and sharing formula of the project partners, structure, operation process of the Beijing Olympic Stadium (Bird's Nest), the disagreement between the Project Company and Beijing Municipal Government (BMG) and also elucidate the three major disputes associated with the project and then give an overview of the disputes resolution process in China.This case study also highlighted the intricacies seen, both in the implication of cancelling the retractable roof and the critical lessons learnt from the PPP project, as regards to the 2008 Beijing Olympic Stadium. However, even with all the numerous disputes, risks , negotiation and re-negotiation, the project was completed within the stipulated period with a touch of unimaginable structural design at a reasonable cost, which happens to go a long way in assisting the successful hosting of the 2008 Beijing Olympic Games.The recommendation and lessons learnt from this case study includes that government support and commitment are very vital for any unique project especially in innovative and complex design structure such as the Beijing National Stadium (Bird's Nest). Hence, during the signing of the preliminary agreement any project, a well-defined project scope must be visibly stated, formulated and clearly defined prior before signing the agreement. That the sharing of comprehensive common project aims and objectives must be the ultimate priority of all stakeholders associated in the venture. And also the importance of engaging in a proper and effective risk management strategy because private and public sector interests must work together at all times, for successful completion of the project such as hosting the 2008 Beijing Olympic Games.

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“…e new item is highly related to PPP benefits. e items adopted to measure the "benefits to public partner" are extracted and developed based on the findings of Akintoye et al [23] and Zhang [21]. ese items are closely related to PPP superiority.…”

Section: Selection Of Measures and Itemsmentioning

confidence: 99%

Key Success Indicators for PPP Projects: Evidence from Hong Kong

Liang

Jia

2018

Advances in Civil Engineering

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Because a consensus has yet to be reached on how to assess the success of a Public-Private Partnership (PPP) project, it is meaningful to study the multidimensional indicators to assess PPP project success. It merits attention that PPP project success indicators are totally different from PPP critical success factors (CSFs), which have attracted a lot of attention from scholars. is study conducts a questionnaire survey to identify the crucial considerations of project success from the perspectives of different PPP stakeholders. In line with previous studies, five dimensions of PPP project success that were developed from different stakeholder viewpoints and time frameworks were tested based on the empirical data. e dimensions mapped in the study not only provide a benchmark for practitioners to diagnose the extent of PPP project success but also provide a solid foundation for scholars to conduct further studies regarding PPP project success.

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A Framework for the Risk Management of Private Finance Initiative Projects

Cited by 59 publications

References 3 publications

A comparative study of critical success factors for public private partnerships (PPP) between Mainland China and the Hong Kong Special Administrative Region

A comparative study of critical success factors for public private partnerships (PPP) between Mainland China and the Hong Kong Special Administrative Region

Comprehensive Objectives for PPP Projects: Case of Beijing Olympic Stadium

Key Success Indicators for PPP Projects: Evidence from Hong Kong

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