Abstract
The concept of a Public-Private Partnership (PPP) is not new for developing countries, although many initiatives are being contemplated for potential implementation. This paper evaluates the crucial success factor for the effective execution of PPP projects and it also investigates the appropriate distribution of the risks involved in PPP projects. Quartile analysis of features has been made after a detailed literature review for risk identification. The risk severity analysis is done using a quartile assessment. The data is collected from various contractors working on PPP projects in Pakistan. The comparative analysis has been conducted using available research work on PPP in developing countries. A risk severity rank model is created using 47 key risks in PPP projects for developing countries. Finally, the top risks identified by this research are compared with the previous studies conducted in China, India and Egypt. It is concluded that inflation, revenue risk from end-user, foreign exchange fluctuation, political situation, law and order, and corruption are the major risks in developing countries for better management of PPP projects. Most of the PPP projects are public-oriented. The society of any city is directly affected by most PPP projects. This paper presents the identified key risks of PPP projects in developing countries which are mostly financial and public-oriented. This work will support the PPP concept significance, meeting United Nations Sustainable Development Goal (SDG) 8 and 11. Recent countries’ political and economic circumstances and sustainability have transformed PPP ventures into a successful way to support the governments to develop roads, energy and facilities through private partners’ financial and technological capacities. Although PPP is used worldwide, its effective utilization in developing countries is still lacking. This paper is an enhancement to its successful use of the PPP domain for developing countries.
Highlights
This study focusses on the risk evaluation for Pakistani Private Partnership (PPP) projects
The main objective of this study was to carry out a risk analysis for PPP projects in Pakistan by identifying and prioritizing the various risks affecting PPP projects in Pakistan and determining their partner-wise allocation, designing the risk severity matrix and benchmarking
The ma jective of this study was to carry out a risk analysis for PPP projects in Pakistan by fying and prioritizing the various risks affecting PPP projects in Pakistan and determ
Summary
Throughout recent years, the Public-Private Partnership (PPP) has evolved to be a crucial mechanism for implementing social development projects throughout developed countries [1]. PPP fosters development growth, enhanced operating and building efficiency, growth in the local economy, improved service quality through the integration of private sector skills, experience and knowledge base that has drawn growing attention from politicians, industry practitioners and academics. It is an approach taken to increase the economic value of infrastructure goods and includes a wide range of services in the public. Sustainability 2021, 13, 3292 sector [2,3]. PPP has grown into a way of providing infrastructure services worldwide
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