Abstract
Because a consensus has yet to be reached on how to assess the success of a Public-Private Partnership (PPP) project, it is meaningful to study the multidimensional indicators to assess PPP project success. It merits attention that PPP project success indicators are totally different from PPP critical success factors (CSFs), which have attracted a lot of attention from scholars. This study conducts a questionnaire survey to identify the crucial considerations of project success from the perspectives of different PPP stakeholders. In line with previous studies, five dimensions of PPP project success that were developed from different stakeholder viewpoints and time frameworks were tested based on the empirical data. The dimensions mapped in the study not only provide a benchmark for practitioners to diagnose the extent of PPP project success but also provide a solid foundation for scholars to conduct further studies regarding PPP project success.
Highlights
As a new approach to gathering the skills, technologies, and resources of different stakeholders, a large-scale project procured in Public-Private Partnership (PPP) could be issued and managed as a whole rather than as small pieces that are conducted in a consecutive manner to meet the requirements of time and cost in the traditional procurement method. erefore, PPP bridges the gap between design, construction, and facility management roles and provides better services with lower life-cycle cost
Even though the PPP approach has been widely adopted in a large number of projects, promoting the application of PPP is still debatable in both the industry and academia. e source of the debate lies in the lack of a comprehensive evaluation system to assess the performance of PPP projects
Project success indicators should be distinguished from project management success and project success factors. e main theme of project management success is assessing the potency of project management processes, while the substance of project success is investigating the extent of fullment of the established goals [1,2,3]
Summary
As a new approach to gathering the skills, technologies, and resources of different stakeholders, a large-scale project procured in Public-Private Partnership (PPP) could be issued and managed as a whole rather than as small pieces that are conducted in a consecutive manner to meet the requirements of time and cost in the traditional procurement method. erefore, PPP bridges the gap between design, construction, and facility management roles and provides better services with lower life-cycle cost. The effectiveness of the “iron triangle” criteria, which are widely adopted to measure traditional construction projects, has been widely applied to evaluate the success of PPP projects. The “iron triangle” criteria are too simple to reflect the expected outcomes of stakeholders for the performance of PPP projects. Erefore, the research question is whether it is possible to build comprehensive indicators to evaluate PPP project performance that can reflect most stakeholders’ opinions and what types of projects can be regarded as successful. E objective of this study is to identify the key success indicators of PPP projects. E study intends to contribute to the existing literature on the key success indicators for measuring PPP and, to deliver meaningful implications for evaluating PPP project success A questionnaire survey was conducted to collect the empirical data from Hong Kong and investigate the crucial considerations of different PPP stakeholders into the PPP project success. e study intends to contribute to the existing literature on the key success indicators for measuring PPP and, to deliver meaningful implications for evaluating PPP project success
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