Abstract
The world is witnessing a global momentum of public–private partnership (PPP) development, along with the inherent complexities associated with the long-term construction, operation, and maintenance periods of numerous PPP projects. Performance measurements for PPP projects are critical for ensuring stakeholders’ interests in a sustainable way, without scarifying future generations’ interests in terms of economic, environmental, and social sustainability. A system of five-dimension sustainable performance measurements for PPP projects is proposed in this study and a questionnaire survey was conducted to solicit professional opinions on its effectiveness based on current PPP practice in China. A total of 79 professionals with PPP working experiences in China participated in the survey, among which five were chosen for interviews to validate and deepen the understandings of the findings. It reveals that the five dimensions have essential impacts on current PPP practice in China, though with varying extent of importance. The private sector has developed a sense of achieving a long-term financial return, which might have indeterminate results on the benefits of end users. The increasing trend of sustainability concerns in the PPP project performance measurement is confirmed, and it is partially due to the central government’s “High-Quality Development” initiatives. This study contributes to the theoretical discussions of establishing sustainable performance measurements for PPP projects, and it has practical implications for the public sector to improve PPP project evaluation methods and incentive mechanisms, so as to promote project sustainability.
Highlights
Public–private partnership (PPP) has been widely recognized as an important and effective way to procure public works with less public financial input and more private participation
A massive number of PPP projects have been in operation or are under construction, and more are being planned
All construction projects including PPP projects shall be responsible for the sustainable future of human society, in terms of meeting current needs without scarification of future generations’ interests [4]
Summary
Public–private partnership (PPP) has been widely recognized as an important and effective way to procure public works with less public financial input and more private participation. All construction projects including PPP projects shall be responsible for the sustainable future of human society, in terms of meeting current needs without scarification of future generations’ interests [4]. China’s construction companies are very active in the international construction market, for example, in the "Road-and-Belt" areas Their PPP experiences will affect the PPP project sustainability in the host countries. Life-cycle perspective and stakeholder management shall be well materialized in the establishment of performance measurements for PPP projects. Integrating various considerations and interests of potential stakeholders contributes to the economic, environmental, and social good for them It shall be done in a long-sighted manner with the recognition of uncertainties and risks in the long project life.
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