Framework for Critical Success Factors of BOT Projects in China

Lin, Qiao; Wang, Shou Qing; Tiong, Robert L. K.; Chan, Tsang-Sing

doi:10.3905/jsf.2001.320244

Cited by 119 publications

(151 citation statements)

References 17 publications

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“…At the same time, the government should take due consideration of private sector's profitability requirements in order to have stable arrangements in PPP projects. Alternative sources of income and financing like property development opportunities along the railway can be sought to bridge the funding gap for private investors (Abdul-Rashid et al 2006;Corbett and Smith 2006;Li et al 2005;Nijkamp et al 2002;Qiao et al 2001;Tam et al 1994;Tiong 1996;Zhang 2005).…”

Section: Project Economic Viabilitymentioning

confidence: 99%

“…Passenger levels in the Croydon Tramlink project in London of United Kingdom turned out to be 25-30% lower than expected and so a lot of money is lost, which may affect the economic viability of the project to expand its capacity (Public Private Finance 2007;Wood 2003). In a balance between public affordability and private profitability, it is not uncommon to see government bestowing periodic service payments to private sector consortium to cover the project costs and reasonable profits with the purpose of sustaining the provision of public transportation services (Jamali 2004;Nijkamp et al 2002;Qiao et al 2001;Tam et al 1994). …”

Section: Project Economic Viabilitymentioning

confidence: 99%

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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: Project Economic Viabilitymentioning

confidence: 99%

Section: Project Economic Viabilitymentioning

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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“…The degree of private sector involvement increases along the continuum; and vice-versa. (Qiao et al 2001;Jefferies et al 2002;Li et al 2005;Hardcastle et al 2005;Jamali 2004b;Wang et al 2007;Babatunde et al 2012;Hwang et al 2013;Ismail 2013) The conceptual framework (Fig 3) for the classification of PPP research highlights the significance of the Critical Success Factors (CSFs) towards improving PPP for effective service delivery. Research literature suggests that although the appeal for PPP all over the world is growing, systematic examination of the success and failure factors is limited (Jamali 2004b;Alinaitwe & Ayesiga 2013).…”

Section: The Concept Of Pppmentioning

confidence: 99%

An Overview of Critical Success Factors of Public Private Partnership in the Delivery of Urban Infrastructure and Services

Muhammad

Sik

Johar

et al. 2016

PMJ

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The inability of the public sector to independently meet the increasing demand for infrastructure and services has prompted many governments to adopt Public-private partnership (PPP) as an alternative strategy. In worldwide practices, however, there are mixed results and controversy in the application of PPP model. The Public-private partnership has, for this reason, become an increasingly active research area mainly to establish the Critical Success Factors (CSFs) towards improving the PPP model. This article reviews the current debate on the subject of PPP and compares the findings of different literature regarding the relative importance of CSFs of PPP projects. The authors argue that the CSFs of PPP projects are distinctive to the context of location and time. The article concludes that this subjectivity has implications for the "guaranteed" success of both existing and future PPP projects.

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“…Concessionaires rely on collecting user payments in order to recover initial investment (Qiao et al 2009;Xu et al 2012). To protect public welfare, public sector usually imposes price ceiling to the concession price (Islam et al 2006;Subprasom, Chen 2007).…”

Section: Concession Pricementioning

confidence: 99%

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

Feng

Wang

et al. 2018

Journal of Civil Engineering and Management

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Abstract. In user-pay public private partnership (PPP) projects, private sectors collect user fees to cover cost and reap revenue. For projects that cannot be self-financed, public sectors usually invest public funds to make them financially feasible. The concession agreement allocates revenues and risks, and lies in the center of balancing public and private interests. However, stakeholders may have contrary opinions regarding the optimization of concession agreement. While private sectors are concerned about earning money, public sectors pay more attention to the efficient use of public funds. To address this challenge, this paper firstly identifies several key concessionary items, including concession period, concession price, capital structure and government subsidy. Then, a multi-objective optimization model is presented using discounted cash flow method, in which key concessionary items act as decision variables and public and private interests are represented by two sub-objectives. Subsequently, the model is solved using non-dominated sorting genetic algorithm-II (NSGA-II). Furthermore, a numerical case based on Beijing No. 4 Metro Line is provided to demonstrate the application of the model. Results show that the proposed model can produce a series of viable combinations of concessionary items that balance public and private interests, which provides practical references for relative decision making activities.

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Framework for Critical Success Factors of BOT Projects in China

Cited by 119 publications

References 17 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

An Overview of Critical Success Factors of Public Private Partnership in the Delivery of Urban Infrastructure and Services

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

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