Risk Allocation in Unsolicited and Solicited Road Public-Private Partnerships: Sustainability and Management Implications
| Autor: | Gabriel Castelblanco, Diego Flores, Jose Guevara, Harrison Mesa |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
solicited proposals
PPP media_common.quotation_subject Geography Planning and Development 0211 other engineering and technologies TJ807-830 02 engineering and technology Management Monitoring Policy and Law TD194-195 Renewable energy sources unsolicited proposals 021105 building & construction 0502 economics and business GE1-350 risk allocation public-private partnerships sustainability media_common Environmental effects of industries and plants Public economics Renewable Energy Sustainability and the Environment 05 social sciences Private sector Environmental sciences Management implications Content analysis General partnership Risk allocation Sustainability Business 050203 business & management Autonomy Coding (social sciences) |
| Zdroj: | Sustainability Volume 12 Issue 11 Sustainability, Vol 12, Iss 4478, p 4478 (2020) |
| ISSN: | 2071-1050 |
| Popis: | Risk allocation plays a crucial role in the successful development of public-private partnership (PPP) projects. However, despite being an important topic for scholars and practitioners, the existing literature does not provide sufficient evidence on how managing risks in solicited (SP) and unsolicited (USP) road PPP projects, and subsequently, on what the sustainability implications are for such managerial processes. This study aims to extend risk allocation studies by analyzing contracts in Chilean highway PPPs over the last decade based on a systematic content analysis framework and case study data. The framework was developed through line-by-line coding of contract provisions associated with risk-related issues, and data were collected from semi-structured interviews with Chilean PPP practitioners. Results show that, although the majority of risks are either shared or transferred to the private party in most contracts, there are important variations in the way allocation procedures are implemented for SPs and USPs. Contracts analyzed revealed that risk arrangement mechanisms have usually focused on the economic dimension of sustainability without fully incorporating social and environmental considerations, increasing protests in the long-term. Conclusions indicate that risk allocation procedures and sustainability considerations are highly dependent on project-specific features and contextual factors. Overall, the analysis uncovers that the level of autonomy given to the private sector in both SPs and USPs has contributed to properly manage technical and economic risks, but has failed to successfully allocate social and environmental concerns. |
| Databáze: | OpenAIRE |
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