Value for money factors in Indian public-private partnership road projects: An exploratory approach

Malek, MohammedShakil S.; Gundaliya, P J

doi:10.5267/j.jpm.2020.10.002

Cited by 13 publications

(21 citation statements)

References 1 publication

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“…Also, a positive factor loading signifies a positive association between distinct factors and vice versa. The cumulative variance illuminated by the principal components extracted is more than the threshold of 60% for vigorous FA (Malek & Gundaliya, 2020). The results are presented in Table II.…”

Section: Fig 1 Scree Plot For Attractive Factorsmentioning

confidence: 92%

“…All the factor loadings were greater than 0.5 in the present study. FA method may cluster all the factors without any elimination and elucidate the threshold variance as witnessed in various earlier studies (Malek & Gundaliya, 2020). Factor loading differs from 0 to 1.…”

Section: Fig 1 Scree Plot For Attractive Factorsmentioning

confidence: 92%

“…Various researchers adopted this approach in the field of construction management (Cheung et al 2010;Dolla & Laishram 2019;Hwang et al 2013). Wider geographic coverage, reduction in bias, greater anonymity, and low cost are some of the advantages of the questionnaire approach (Malek & Gundaliya 2020, 2020a.…”

Section: Methodsmentioning

confidence: 99%

“…Because of the decrease in public spending in the provision of infrastructure services, early implementation of PPPs marked the reason for attracting private investment (Crosslin 1991). It has motivated researchers to build financial models and facilitate them to comprehend the financial feasibility and value for money (VFM) of PPPs (Malek & Gundaliya 2020). Later on, studies have been found that the united members of PPPs have an opposing concern .…”

Section: Introductionmentioning

confidence: 99%

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The attractiveness of public-private partnership for road projects in India

Malek¹,

Zala²

2022

10.5267/j.jpm

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The objective of this paper was to have a study on the perceptions of stakeholders of Public-Private Partnership (PPP) projects for factors affecting the attractiveness of road projects in India. A questionnaire survey was conducted among major PPP project participants of Indian PPP road projects. Fifteen attractive factors were shortlisted through a literature survey for designing the questionnaire. Collected data was analyzed with factor analysis and descriptive statistical analysis. The findings resulted in three components: effectiveness of the private sector, effective time and cost management, and the public sector’s economic benefit. Eight factors were identified as highly affecting the attractiveness of PPP in Indian road projects. PPP provides ample diversity of net benefits to both the public and private sectors. During the project development stage, both sectors have to formulate decisions based on appropriate assessment criteria. Therefore, the reflection of attractive factors will assist the public-sector to select PPP in the road sector. It also helps to establish the strategy for road projects using PPP.

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Section: Fig 1 Scree Plot For Attractive Factorsmentioning

confidence: 92%

Section: Fig 1 Scree Plot For Attractive Factorsmentioning

confidence: 92%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The attractiveness of public-private partnership for road projects in India

Malek¹,

Zala²

2022

10.5267/j.jpm

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“…The PPP approach has made significant progress in recent years because individuals and organizations believe it provides more value for money (VFM) (Malek and Gundaliya, 2021). However, according to a study that reviews the UK government's PPP schemes, the majority of PPP projects are costly and fail to deliver on their promise of ensuring the best CI 23,4 value for money (Meyer, 2012).…”

Section: Introductionmentioning

confidence: 99%

The value for money factors and their interrelationships for smart city public–private partnerships projects

Almarri

2022

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Purpose The amount of expenditure required to scale up smart infrastructure projects is often enormous. Public–private partnership (PPP) is one of the proposed and viable solutions for addressing the financial issues of smart infrastructure projects. However, the most important criterion in choosing PPP over other procurement methods is that the project under the PPP method should deliver the best value for money (VFM) while also including defined economic and social objectives, rather than relying exclusively on efficiency factors. While PPP provides a variety of advantages for developing infrastructure, significant challenges may arise as a result of smart infrastructure initiatives. Diverse PPP approaches have been used to build smart infrastructure around the world, with varying degrees of success. The purpose of this study is to identify the VFM factors that are suitable for smart infrastructure projects and to examine the impact of their interrelationships. Design/methodology/approach The methodology for this study consisted of three stages: identifying VFM factors in PPP for smart cities based on an extensive literature review, analyzing data from a sample of 90 PPP practitioners using a Likert scale questionnaire and estimating interrelationships among VFM factors using structural equation modeling (SEM). Findings After performing a SEM analysis on the gathered data, the best fitted measurement model consisted of 11 VFM factors acting as indicators of three latent variables for smart infrastructure projects (clear output specification for measuring performance, efficient dispute resolutions, optimized risk allocation and business models, improved and integrated community services, economic sustainability, appropriate capital structure and collaterals, smart asset management, diffusion of smart technologies, technical innovation, Ince) and three clusters of their interrelations (economic sustainability, integration drive, optimization and smart technology). Practical implications This research has resulted in a useful and readily applicable list of factors and clusters of value for money criteria for the implementation of PPP in smart infrastructure projects, assisting public sector management by providing a measure of pre-conditions that can be used as an assessment tool when determining whether a PPP should be used instead of conventional methods. Originality/value In addition to the theoretical and methodological contributions, this study produced a usable and readily adaptable list and clusters of value for money factors for the implementation of PPP in smart infrastructure projects.

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