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Risk management in public private partnership contracts

Risk management in public private partnership contracts
Risk management in public private partnership contracts
Public–private partnerships (PPPs) allow private companies to build, own and operate public projects such as schools and hospitals on behalf of the public sector. PPP contracts commonly require the private agent to take responsibilities for the performance of the asset over a long term, at least for a significant part of its useful life, so that efficiencies arising from long-term investment and asset management can be realized. However, the evidence is finely balanced on the effectiveness of such initiatives in obtaining the intended goals. This brings to the fore the challenge of designing and implementing innovative partnership plans to manage public services more effectively. More emphasis needs to be placed on strategies for the transfer of risk for the successful conclusion of PPP contracts.
risk management, public–private partnership, value for money, secondary financing markets
1566-7170
Nisar, T.M.
6b1513b5-23d1-4151-8dd2-9f6eaa6ea3a6
Nisar, T.M.
6b1513b5-23d1-4151-8dd2-9f6eaa6ea3a6

Nisar, T.M. (2006) Risk management in public private partnership contracts. Public Organization Review. (doi:10.1007/s11115-006-0020-1).

Record type: Article

Abstract

Public–private partnerships (PPPs) allow private companies to build, own and operate public projects such as schools and hospitals on behalf of the public sector. PPP contracts commonly require the private agent to take responsibilities for the performance of the asset over a long term, at least for a significant part of its useful life, so that efficiencies arising from long-term investment and asset management can be realized. However, the evidence is finely balanced on the effectiveness of such initiatives in obtaining the intended goals. This brings to the fore the challenge of designing and implementing innovative partnership plans to manage public services more effectively. More emphasis needs to be placed on strategies for the transfer of risk for the successful conclusion of PPP contracts.

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More information

Published date: 2006
Additional Information: Online First article
Keywords: risk management, public–private partnership, value for money, secondary financing markets

Identifiers

Local EPrints ID: 42533
URI: http://eprints.soton.ac.uk/id/eprint/42533
ISSN: 1566-7170
PURE UUID: 48431d07-2a08-4d56-9d69-80737e73f4b5
ORCID for T.M. Nisar: ORCID iD orcid.org/0000-0003-2240-5327

Catalogue record

Date deposited: 14 Dec 2006
Last modified: 16 Mar 2024 03:21

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