Abstract
Public Private Partnership (PPP) contracts tend to have longer contract durations compared to other conventional procurement methods. A contract renegotiation becomes inevitable in most of the cases. The renegotiation process usually develops a number of scenarios in order to regain the contract equilibrium. The common renegotiation scenarios used are: increasing the service charges, increasing the concession period, or paying a lump sum amount to the party of concern in order to maintain a fixed rate of return and keep the return on equity constant. In this paper, a method of selecting the optimum scenario among the different scenarios is proposed. The aim of this research is to facilitate the renegotiation process by offering an automated system to select the optimum renegotiation scenario that preserves the rights and the interests of the project stakeholders. This is done using a weighted sum model to calculate the weights and ranks of a number of factors influencing the stakeholders’ decisions. A Decision Support System (DSS) is developed with the aid of Microsoft Excel 2013, Visual Basic for Applications (VBA) programming language, and the Precision Tree 5.5 for Excel add-in.
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