Abstract
AbstractGiven the increased demand for public facilities and the lack of funds and skills to maintain, repair, and replenish the existing facilities, public private partnerships (PPPs) have been widely adopted and have significantly contributed to the development of new infrastructure built throughout the world. However, because many PPP projects will be transferred back to the host governments upon expiry of the concession period, problems related to the subsequent management of PPP projects have not yet been thoroughly studied. Residual value risk (RVR) is a critical concern when the projects revert back to the public sector. Through an extensive literature review and an open-ended questionnaire survey, the perception of RVR in PPP projects is elaborated in this paper, which aims to present a precise definition and meaning of RVR in PPP projects. The survey results indicate that RVR is viewed as an important concern by professionals and academics. The definition of RVR can be phrased as the risk that on...
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