Exploring Key Indicators of Residual Value Risks in China’s Public–Private Partnership Projects

Process‐Based Identification of Critical Factors for Residual Value Risk in China′s Highway PPP Projects

“…Unlike prior studies in PPP risk, this study does not only provide a process-based perspective to understand PPP risk associated with RV, but also inspires the researchers and practitioners to pay attention to RVR and sustainability of PPP projects. Although Yuan et al [16] defined RVR for PPP generally, validated the importance of RVR through case study [15], and identified the key indicators of RVRs through value-based viewpoint [24], they have not measured RVR in highway PPP projects from a process-based viewpoint. is study advances an in-depth understanding of RVR and supporting RVR management in typical PPP projects in China.…”

“…Failure to land acquisition timely may cause slow and hindered project progress and ultimately end either in the cancellation of the concession or in nationalization of the project [13] F14 delayed approval Delayed approvals and actions by public sector officials would slow and hindered project progress, with connection with project nationalization [13] F15 financing risk Financial strategy for the project company directly affects the amount of capital expenditures that take the biggest part in the cost structure of the project [73] F16 design defects or delay An optimized design can facilitate lifecycle cost cutting by constructability, maintenance, and operationability to improve the RV of PPP projects [24] F17 technical risk Unproved technology or inadequate technical feasibility assessment adopted may trigger technical error, project halted and failure to achieve desired functions [13] Construction F18 cost overrun risk e likelihood and amount of cost overrun for most of the PPP approaches are affected by a number of project characteristics such as planned project duration, length, engineer's cost estimate, and number of work activities [74] F19 schedule delay Project that cannot reach the pre-determined production target or cannot be launched into production as scheduled will result in inadequate cash flow during operation period [75] F20 resource availability Resource availability is an critical success factors in PPP [3], and optimized resources utilization can improve the implementation efficiency and better offers for the public [76] F21 quality risk…”

“…Although prior study has defined the underlying dimensions of RVR in PPP generally [16], verified the importance of RVR management through case study in China [15], and explored RVR in value-based perspective [24], few studies have explored the CRFs for RVR and their impact on RVR management in highway PPP projects. Moreover, detailed and careful identification of CRFs that can heavily influence the tangible and intangible RV of highway PPP projects should be further implemented based on the process-based viewpoint, which adapt to the value chain from development to facility management in highway PPP projects.…”

Balancing Public and Private Interests Through Optimization of Concession Agreement Design for User-Pay PPP Projects

“…For theoretical implications, this study further interprets the optimization of the main critical concessionary items in an expanded viewpoint. Recent practices in China and abroad have shown a trend of increasing involvement of public sectors in both project financing and concessionary agreement design (Yuan et al 2017). More attention needs to be paid to the efficient use of public funds in order to adapt to public sector's shift of roles.…”

Revisão Bibliométrica Sobre O Término Antecipado De Parcerias Público-Privadas

“…O cluster #5 (roxo) engloba os trabalhos voltados ao término antecipado dos contratos de PPP (SONG et al, 2017;LIU et al, 2017;SONG et al, 2018a/b). O cluster #6 (azul claro) avalia a questão de riscos residuais nos contratos de parceria (YUAN et al, 2015;YUAN et al, 2018).…”