Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

Amović, Goran; Maksimović, Rado; Bunčić, Sonja

doi:10.3390/su12177121

Cited by 23 publications

(26 citation statements)

References 30 publications

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“…A conducive climate must be created to attract several lending institutions and financers to form a consortium to meet the financial demands of the project (Cheng et al , 2021). A strong partnership between local and international investors must be a priority to raise enough funds for the project (Amović et al , 2020). Project managers must be honest in divulging relevant financial information on financial risks to stakeholders (Ng et al , 2012).…”

Section: Resultsmentioning

confidence: 99%

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Akomea-Frimpong

Jin

Osei‐Kyei

et al. 2023

JFMPC

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Purpose Public–private partnership (PPP), a project financing arrangement between private investors and the public sector, has revolutionized the approach to the funding and development of public infrastructure worldwide. However, the increasing cases of financial risks and poor financial risk management related to the model threaten the sustainability and financial success of PPP projects leading to huge financial investment losses. This study aims to review existing literature to establish the key measures to control the financial risks of sustainable PPP projects. Design/methodology/approach A PRISMA-compliant systematic literature review method was used in this study. Data were sourced from academic databases consisting of 56 impactful peer-reviewed journal articles. Findings The review outcomes demonstrate 41 critical factors (measures) in mitigating the financial risks of sustainable PPP projects. They include minimum revenue guarantee, strategic alliance with private investors, financial transparency and accountability and sound macroeconomic policies. The principal results of the study were categorized and conceptualized into a financial risk management maturity model for sustainable PPP projects. Lastly, the study reveals that further studies and project policies must focus more on addressing financial challenges relating to climate risks, and health and safety concerns such as COVID-19 outbreak that have negative impacts on PPP projects. Research limitations/implications The results provide essential research gaps and directions for future studies on measures to mitigate the financial risks of sustainable PPP projects. However, this study used small but significant existing publications. Practical implications A checklist and a conceptual maturity model are provided in this study to help practitioners to learn and improve upon their practices to mitigate the financial risks of sustainable PPP projects. Originality/value This study contributes to managerial measures to reduce huge losses in financial investments of PPP projects and the attainment of sustainability in public infrastructure projects with a financial risk maturity model.

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Section: Resultsmentioning

confidence: 99%

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Akomea-Frimpong

Jin

Osei‐Kyei

et al. 2023

JFMPC

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“…Likert scale and statistical analyses including descriptive analysis, Cronbach's alpha reliability tests, one-way analysis of variance and factor analysis were used. Factor analysis was used in [17]. At the same time, they used principal component analysis and the Varimax method with Kaiser normalisation.…”

Section: Review Of Applied Research Methodsmentioning

confidence: 99%

“…It ranks highest (18th) according to the R 2 and MAD criteria, and lowest (42nd) according to the AICc criterion 17. The linear correlation coefficient between variables 5 and 6 is 0.995.…”

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confidence: 99%

Econometric models - a method for examining factors of implementation of public-private partnership projects in selected European countries

Rogowski

Zagożdżon²

2022

tren

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Modern science is based on the study of economic phenomena and tries to quantify them in a measurable way. Econometric models are used for this purpose. The object of this research was to develop econometric models that show the strength of the influence of various factors on the implementation of public-private partnership (PPP) projects in the area of transport infrastructure in France, GB, Germany, the Netherlands and Belgium. The models express the dependence of the value and number of PPP contracts on the value of measurable PPP success factors. Projects with a value of at least EUR40 million were included. A linear model and seven models transformable to linear were used. Four groups of factors were considered as explanatory variables. Fourteen indicators were obtained. Principal components determined based on covariance and correlation matrices were also used. The best models for the number of PPP contracts are linear and hyperbolic I models. For the value of contracts - linear and hyperbolic I and logarithmic models. The best models were indicated taking into account the type of explanatory variables and regardless of the type of explanatory variables. Nine criteria were used to assess the quality of the models. Factors having a significant impact on the value and number of PPP models were identified from the best models. Factors having no significant influence were also indicated.

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“…Therefore, increasing public awareness, sensitivity, and capacity can aid PPP initiatives. g) Establishment of a credible PPP Unit Establishing a PPP unit demonstrates a private partner's PPP expertise and commitment (Amovi c et al, 2020;Farquharson and Yescombe, 2011). According to the Economic and Social Council of the United Nations, successful PPPs require national governmental support.…”

Section: E) Comprehensive Comparative Analysismentioning

confidence: 99%

Critical success factors of Public-Private Partnerships in the education sector

Sajida,

Kusumasari

2023

PAP

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PurposeThis paper aims to identify the factors affecting the implementation of Public-Private Partnerships (PPPs) in the education sector.Design/methodology/approachBased on Scopus and adopting the protocol of Staples and Niazi (2007), this systematic literature review examined 21 articles on PPPs in the education sector. Content analysis is adopted to identify research gaps and provide information on critical issues in the cases.FindingsThe findings have identified the critical success factors of PPPs in the education sector in 12 countries, revealing varying degrees of success and implementation challenges. They reflect the importance of clear objectives, effective communication, and robust partnerships between the public and private sectors to achieve success. These insights contribute to an in-depth understanding of PPP implementation in education, which can guide future projects.Originality/valueThe critical success factors identified in PPPs implementation in education across various countries may provide a comprehensive worldwide perspective for researchers, practitioners and policymakers.

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Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

Cited by 23 publications

References 30 publications

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

Econometric models - a method for examining factors of implementation of public-private partnership projects in selected European countries

Critical success factors of Public-Private Partnerships in the education sector

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