Review of risk management studies in public-private partnerships: a scientometric analysis

Abstract

This paper reviews the trend of research studies on risk management in public-private partnerships (PPP). Bibliometric data of 1730 publications were retrieved from Scopus using selected keywords between 1989 and 2019. The VOS viewer software was then used to conduct a scientometric analysis of the normative literature. The review outcomes show that research on PPP risk management has generally increased over the last decades, however, a significant increase in publications was realized in 2005. This reinforces assertions that risk management is an essential issue in PPP practice globally. Further, the three most productive countries of PPP risk management research are the U.S., China and, the U.K. Lastly, it was found that majority of the PPP risk management studies have focused on only four key areas of the conventional risk management framework process, and this includes risk identification and assessment, risk allocation/sharing, risk analytical models and techniques, and risk mitigation. Other areas including risk treatment, risk monitoring and review have not been properly explored which makes the PPP risk management framework process inconclusive. The present study contributes to PPP knowledge by providing a general overview of risk management in PPP, thereby creating a solid platform for future research efforts in this critical domain.