Risk and reward in rail contracting [In special issue: Reforms in Public Transport]
Risk and reward in rail contracting [In special issue: Reforms in Public Transport]
This workshop considered the role of risks and rewards in rail transport by considering evidence on the impacts of industry structure, franchising and infrastructure charges. A schema for the allocation of risks and rewards was developed, which indicated that strategic risks should be borne by authorities and operational risks by operators, but that tactical risks were more difficult to allocate and appropriate reward mechanisms more difficult to design. The extent to which these difficulties can be addressed by competitive tendering and alternatives such as trusting partnerships and negotiated performance based contracts was considered.
risk allocation, rail contracting, tendering, public-private partnerships
31-35
Alexandersson, Gunnar
9784fa83-b4d6-4a7b-ab81-bbec1346feef
Nash, Chris
5f730a17-9005-401f-94a2-9e515107e390
Preston, John
ef81c42e-c896-4768-92d1-052662037f0b
2008
Alexandersson, Gunnar
9784fa83-b4d6-4a7b-ab81-bbec1346feef
Nash, Chris
5f730a17-9005-401f-94a2-9e515107e390
Preston, John
ef81c42e-c896-4768-92d1-052662037f0b
Alexandersson, Gunnar, Nash, Chris and Preston, John
(2008)
Risk and reward in rail contracting [In special issue: Reforms in Public Transport].
Research in Transportation Economics, 22 (1), .
(doi:10.1016/j.retrec.2008.05.008).
Abstract
This workshop considered the role of risks and rewards in rail transport by considering evidence on the impacts of industry structure, franchising and infrastructure charges. A schema for the allocation of risks and rewards was developed, which indicated that strategic risks should be borne by authorities and operational risks by operators, but that tactical risks were more difficult to allocate and appropriate reward mechanisms more difficult to design. The extent to which these difficulties can be addressed by competitive tendering and alternatives such as trusting partnerships and negotiated performance based contracts was considered.
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Published date: 2008
Keywords:
risk allocation, rail contracting, tendering, public-private partnerships
Organisations:
Transportation Group
Identifiers
Local EPrints ID: 52643
URI: http://eprints.soton.ac.uk/id/eprint/52643
ISSN: 0739-8859
PURE UUID: 69b9a3d9-c20e-499b-a81b-130efe9c1d8f
Catalogue record
Date deposited: 21 Aug 2008
Last modified: 16 Mar 2024 03:48
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Contributors
Author:
Gunnar Alexandersson
Author:
Chris Nash
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