Megaprojects and Risk. An Anatomy of Ambition

https://ira.lib.polyu.edu.hk/bitstream/10397/7153/1/Tang_Review_Public_Private.pdf

A review of studies on Public–Private Partnership projects in the construction industry

https://isiarticles.com/bundles/Article/pre/pdf/3617.pdf

Public private partnership projects in Singapore factors, critical risks and preferred risk allocation from the perspective of contractors /

https://isiarticles.com/bundles/Article/pre/pdf/51426.pdf

Modelling optimal risk allocation in PPP projects using artificial neural networks

Risk allocation in public–private partnership (PPP) projects is currently claimed as capability driven. While lacking theoretical support, the claim is often ‘violated’ by current industrial practice. There is thus a need for formal mechanisms to interpret why a particular risk is retained by government in one project while transferred to private partners in another. From the viewpoint of transaction cost economics (TCE), integrated with the resource‐based view (RBV) of organizational capabilities, this paper proposed a theoretical framework for understanding risk allocation practice in PPP projects. The theories underlying the major constructs and their links were articulated. Data gathered from an industry‐wide survey were used to test the framework. The results of multiple linear regression (MLR) generally support the proposed framework. It has been found that partners' risk management routine, mechanism, commitment, cooperation history, and uncertainties associated with project risk management could s...

Interpreting risk allocation mechanism in public-private partnership projects: An empirical study in a transaction cost economics perspective

Despite massive investment opportunities and the establishment of a framework for private sector participation in highway infrastructure development programmes in India, private investment (including foreign direct investment) in this sector is not up to the expected level. A high degree of risk exposure, disagreement on many risk issues among major stakeholders, and the absence of adequate government guarantees have been identified as some of the major reasons for this lukewarm response. This paper discusses the outcome of a risk perception analysis carried out to evaluate the risk criticality, risk management capability, risk allocation/sharing preference, and factors influencing risk acceptance of major stakeholders. A survey was conducted among senior project participants such as government officials, promoters, lenders and consultants of Indian BOT road projects. Eight types of risks have been identified as very critical in the Indian road sector under BOT set up with traffic revenue risk being the m...

Risk perception analysis of BOT road project participants in India

Construction cost is the most important criteria of project success and hence the construction project performance is generally expressed in terms of cost and its variance from the budget. In spite of having extant literature, cost estimation methods, cost indices etc., construction projects rarely meet the budgeted cost. This research study focuses on the construction cost overrun and to identify the various factors that affects the construction cost performance. Based on an extensive literature review and input from industry experts, sixty eight factors that causes cost overrun were identified for investigation. Further, a structured questionnaire survey was conducted among the industry experts and the collected data has been analysed statistically. It is concluded that the factors namely scope creep, construction delays, rework and practise of awarding the contract to the lowest bidder are most significant factors for construction cost overrun in non-infrastructural Indian projects. The relative importance of the listed factors used to guide the project team in addressing the cost related risks involved in the projects. The findings are expected to bridge the gap in the current construction cost management practices.

/pdf/factors-influencing-cost-over-run-in-indian-construction-460qva6g5m.pdf

Factors influencing cost over-run in Indian construction projects

In the Resource–Constrained Multi–Project Scheduling (RCMPS) literature, studies on scheduling involving the minimisation of the maximum tardiness of multiple projects are rather limited. This paper, therefore, analyses the performance of the existing and newly proposed scheduling rules in the static RCMPS environment by considering performance measures involving Mean Tardiness (MT) and the Maximum Tardiness (MaxT) of projects. The present work evaluates scheduling rules that consider project due–dates, operation/activity duration times, operation/activity due–dates, project slack and activity slack, and presents the results of performance evaluation.

Performance analysis of scheduling rules in resource–constrained multiple projects

Determination of a schedule to complete projects exactly on their assigned due-dates is considered a major objective for many researchers and practicing managers. In some situations, projects that are completed before their due-dates are not handed over to the project owner or customer, but held with the organisation that executes the project, while the projects that are completed after their due-dates are considered tardy and result in loss of customer goodwill and penalty. The current study, therefore, addresses the problem of scheduling resource-constrained multiple projects with the consideration of projects having different relative earliness and relative tardiness costs. In the first phase of the study, relative costs (or weights) for tardiness of projects is considered, and the scheduling rules are presented in order to minimise the weighted tardiness of projects. In the second phase of the study, the objective considered is the minimisation of the sum of weighted earliness and weighted tardiness of projects, and the scheduling rules are presented by incorporating the relative costs of earliness and tardiness of projects. Computational studies have been conducted separately for both phases of the current study; the performance of the scheduling rules has been observed independently and the results of the computational study have been reported.

Scheduling in resource-constrained multiple projects to minimise the weighted tardiness and weighted earliness of projects

This article looks at the risks involved in build-operate-transfer (BOT) road schemes in India. Risk is defined as exposure to the possibility of economic or financial loss or gain, damages or injury, or delay during a project. Risk management minimises adverse changes in cash flows by managing assets and liabilities in three stages: risk identification, assessment and control. Risk identification involves preparation of a checklist under phases of project development. The four phases given here are developmental, construction, operation and project life cycle: in each phase several risk categories are detailed. Risk management strategies are mentioned, and a case study set out in the appendix shows the risk factors actually realised.

K. Ananthanarayanan

Papers

Risk perception analysis of BOT road project participants in India

Factors influencing cost over-run in Indian construction projects

Performance analysis of scheduling rules in resource–constrained multiple projects

Scheduling in resource-constrained multiple projects to minimise the weighted tardiness and weighted earliness of projects

Identification of risk factors and risk management strategies for bot road projects in india