Article2014

Stakeholders’ expectations in utilising financial models for public-private partnership projects

Fredy Kurniawan · Stephen O. Ogunlana · Ibrahim A. Motawa

25 citations0/0 files storedBuilt Environment Project and Asset Management

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Public-Private Partnership Projects Construction Project Management and Performance Capital Investment and Risk Analysis

Abstract

Purpose – The purpose of this paper is to explore stakeholders’ expectations in utilising PPP financial models in order to ensure that each stakeholder understands the expectations of others before negotiating and reaching contract agreement by all the stakeholders. Design/methodology/approach – Five common sets of 40 expectations have been identified through a systematic research approach, and their relative significances were verified based on pilot studies in India and the UK and expert opinion solicited worldwide through a structured questionnaire survey. The survey responses were evaluated by using statistical analyses. Findings – The most important stakeholders’ expectations in utilising PPP financial models were identified at five different stages in a project. They are bankable (at the pre-proposal stage), assessment of project's ability to carry senior debt (at the contract negotiation stage), sensitivity analysis for key commercial issues (at the finance-raising stage), debt service evaluation towards cost overrun and other adverse events (at the construction stage), and assurance of secure operational cash flow (at the operation stage). Although some of the most important expectations are agreed on by all stakeholders, the disagreement of most important expectations should also be considered by the other stakeholder(s) in order to achieve effective and efficient negotiations. Originality/value – The paper draws attention to stakeholders’ expectations in utilising a financial model that is arguably overlooked in evaluating PPP projects. It does so in order to speed up the negotiation process as a means of minimising cost and time expenditures on PPP contract negotiation.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 25 citations exist upstream.

References

2001Research Design in Social Research 2002Social Surveys 2009Beyond the ‘iron triangle’: Stakeholder perception of key performance indicators (KPIs) for large-scale public sector development projects 2004Public Private Partnerships: The Worldwide Revolution In Infrastructure Provision And Project Finance 2007Curbing Optimism Bias and Strategic Misrepresentation in Planning: Reference Class Forecasting in Practice 2006Stakeholder management for public private partnerships 2004Public Private Partnerships 2005Financing Public Infrastructure: Darrin Grimsey and Mervyn K Lewis, Public Private Partnerships: The Worldwide Revolution in Infrastructure Provision and Private Finance, Edward Elgar, Cheltenham, 2004

Cited by

2018Public–private partnerships in Tanzanian affordable housing schemes

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.