Risk management by SPV partners in toll road public private partnerships

Burke, Richard.; Demirag, Istemi

doi:10.1080/14719037.2018.1523450

Cited by 31 publications

(30 citation statements)

References 48 publications

(47 reference statements)

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“…In practice, this is not always verified. As highlighted by Burke and Demirag (2019), RM provides, in the PPP/PFI context, opportunities for mitigating and managing risk, but the problem is how to measure and obtain value for money for taxpayers. Chung and Hensher (2015) suggested that to enhance RM performance in the PPP/PFI, it is recommendable to perform a good contractual framework, allied with good relationship skills between partners.…”

Section: Performance Accountability and Rmmentioning

confidence: 99%

Risk management in the public sector: a structured literature review

Bracci

Tallaki

Gobbo

et al. 2021

IJPSM

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PurposeRisk management (RM) is receiving increasing academic and practitioner attention in the public sector. Despite this, there is a lack of systematization of this body of knowledge. The purpose of this paper is to analyze the state of art by examining the knowledge gaps and defining the emerging themes of RM in the public sector to guide future research agendas.Design/methodology/approachThe authors conducted a structured literature review (SLR). They analyzed 63 papers, by using Scopus database, published from 1990 to 2018. All papers were categorized and analyzed according to 11 criteria defined by the literature.FindingsResults show that there is an increasing attention to RM with a need for more effort to consolidate research knowledge. Findings also established a lack of theorization, with a limited explanatory capacity of most studies. The paper defined four main areas for future developments to increase the body of knowledge. Namely, RM and managerial systems (i.e. MCSs and performance management), integrating RM systems and the building blocks of RM that the authors identify will also play a role in helping the authors to understand the diffusion of RM within public sector organizations.Originality/valueDespite the increasing attention to RM in the public sector, more research is required. Considering RM in public sector risks to be a “black box”, this paper revealed some new insights that could help to analyze better RM in the public sector, to open the black box and to avoid a symbolic use of the RM. In fact, integration with the managerial systems and the strengthening of the building block could help to exploit the potential of RM in the public sector.

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Section: Performance Accountability and Rmmentioning

confidence: 99%

Risk management in the public sector: a structured literature review

Bracci

Tallaki

Gobbo

et al. 2021

IJPSM

View full text Add to dashboard Cite

show abstract

“…Specifically, the potential barriers (risks) to the successful operation of PPPs are often financial corruption, an unstable political environment, unexpected (hidden) costs, fluctuations of demand forecast, an immature regulatory framework, and lack of experience in PPP projects, to name a few (e.g. see Bae & Joo, 2016;Baker, 2016;Burke & Demirag, 2019;Kim & Kwa, 2020;Yang et al, 2013). As these potential obstacles are not easy to control and analyze, without proper ex ante management (including allocation and transfer) of risk factors, government agencies may be faced with high component (extra transaction) costs and time delays in project design or construction/building (Hwang et al, 2013;Jin, 2010).…”

Section: Introductionmentioning

confidence: 99%

A closer look at risk factors for public-private partnerships in Singapore: six case studies

Kim

Kwa

2020

Asian Journal of Political Science

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Despite its global popularity over the past few decades, the publicprivate partnership (PPP) has not always led to successful outcomes, due largely to a number of risk factors associated with the projects. To explain how and why PPPs sometimes fail, this study considers the success-failure continuum of Singapore's recent PPP experience from 2000 to 2019. After taking a critical, close look at the six failed cases, we identify the following latent risk factors: unstable financial capacity during the execution period of a project, force majeure unforeseen problems that arise, a lack of technical and/or financial foresight, poor corporate management (e.g. delays in construction and poor-quality service delivery), and an unfavourable investment environment stemming from the lack of a clear and supportive governance framework. In addition, we find that most risk factors tend to appear during the contract management (pre-operation) and project management (operation) phases. Such risks seem to drive the operational failure and subsequent contract termination of multiple unsuccessful PPPs, simultaneously (and sometimes sequentially) rather than in isolated fashion. All in all, this study offers for policymakers that better risk allocation and proper, mutual coordination between the public and private partners represent essential factors for PPP success.

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“…If cash flow were poor, would the council bail out Everton or extend the terms of the loan? So, there was risk involved, with the council acting as a guarantor in an unknown landscape (Burke & Demirag, 2019). Acting as a direct creditor after borrowing first from the PWLB, the LCC would have been the main broker.…”

Section: Discussionmentioning

confidence: 99%

The politics of urban regeneration in Liverpool and Everton FC’s alternate new stadium-project plans

Γεωργαντάς

Lekakis

2021

Regional Studies, Regional Science

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Urban politics is a US-dominated field, and since the late 1990s there have been academic discussions with a view, on the one hand, to better understanding the British/European case and what distinguishes it from the US one and, on the other, to develop a better comparative theory much of which subsequently went down the path of studying neoliberalism. This article follows an urban politics perspective and the qualitative case-study method to explore Everton Football Club's 20-year-long unsuccessful struggle to relocate to a new modern stadium of its own in the Liverpool city-region. Although this paper has limitations stemming from the fact that it is a single case study, its contribution to the field is threefold. First, it adds to the scant literature on new private sports stadia in the UK. Second, it shows that US-based urban politics theories beyond regimes may remain alive in the UK. Third, it supplements the neoliberalist-financialized city statecraft literature by adding sports stadia as infrastructural projects never before incorporated.

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Risk management by SPV partners in toll road public private partnerships

Cited by 31 publications

References 48 publications

Risk management in the public sector: a structured literature review

Risk management in the public sector: a structured literature review

A closer look at risk factors for public-private partnerships in Singapore: six case studies

The politics of urban regeneration in Liverpool and Everton FC’s alternate new stadium-project plans

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