Risk Allocation and Risk Handling of Highway Projects in Taiwan

2003 ◽  
Vol 19 (2) ◽  
pp. 60-68 ◽  
Author(s):  
Ming-Teh Wang ◽  
Hui-Yu Chou
Keyword(s):  
Risk Allocation ◽  
Highway Projects ◽  
Risk Handling

Evaluating the Effectiveness of Public–Private Partnerships in Highway Development: The Case of Virginia

2018 ◽  
Vol 2672 (4) ◽  
pp. 43-53 ◽  
Author(s):  
Yin Wang ◽  
Zhirong Jerry Zhao
Keyword(s):  
Risk Reduction ◽  
Partner Selection ◽  
Public Private Partnerships ◽  
Risk Allocation ◽  
Cost Overrun ◽  
Efficiency Gains ◽  
Highway Projects ◽  
Public Benefits ◽  
Financial Arrangements

Given the current momentum for public–private partnerships (PPPs), it is critical to review the experiences of PPP highway projects to see whether they succeed in serving public benefits. This article applies a goal-centered approach to evaluate the effectiveness of nine PPP highway projects in the Commonwealth of Virginia, U.S.A., that were implemented and opened to traffic between 1990 and 2016. Virginia has used highway PPPs more for financing or risk reduction than for efficiency gains. The authors examine four elements of contract agreements—PPP type, private partner selection, financial arrangements, and risk allocation—in these Virginian projects, and find that these arrangements have been effective in accessing innovative finance and preventing cost overrun, while the evidence is limited regarding shifting revenue risk or achieving efficiency gains.

scholarly journals RISK MANAGEMENT IN ROAD CONSTRUCTION: THE CASE OF SRI LANKA

2009 ◽  
Vol 13 (2) ◽  
pp. 87-102 ◽  
Author(s):  
B.A.K.S Perera
Keyword(s):  
Sri Lanka ◽  
Construction Projects ◽  
Road Construction ◽  
Risk Identification ◽  
Primary Data ◽  
Risk Allocation ◽  
Structured Interviews ◽  
Risk Sources ◽  
Risk Event ◽  
Risk Handling

Risk is an unavoidable phenomenon in construction projects. Proper risk allocation in construction contracts has therefore come to assume prominence because risk identification and risk allocation have a clear bearing on risk handling decisions. The proper management of risks requires that they be identified and allocated in a well‐defined manner. This can only be achieved if contracting parties comprehend their risk responsibilities, risk event conditions, and risk handling capabilities. This research aims at identifying the risk responsibilities of contractual parties in order to improve their risk handling strategies with regard to Sri Lankan road projects. Semi‐structured interviews were used for the primary data collection. This was complemented with documentary evidence. The results show that road construction projects in Sri Lanka are exposed to many risk sources while most risks are borne by parties who were assigned with risks via contract clauses. However, parties not allocated with risks too happened to bear the consequences of such risks. Therefore, it is concluded that there is no one best way to respond to a risk and that different risk handling strategies should be adopted in order to deal effectively with risks. Santruka Rizika ‐ neišvengiamas statybu projektu reiškinys. Todel svarbus tapo tinkamas rizikos paskirstymas statybu rangos sutartyse, nes rizikos nustatymas ir rizikos paskirstymas daro akivaizdžia itaka rizikos valdymo sprendimams. Norint gerai valdyti rizika, reikia ja nustatyti ir tinkamai paskirstyti. Tai imanoma tik tuomet, jei sutarties šalys supranta savo atsakomybe už rizika, rizikos atveju salygas ir rizikos valdymo galimybes. Šiame tyrime, siekiant pagerinti sutarties šaliu rizikos valdymo strategijas, meginama nustatyti, kokia atsakomybe už rizika prisiima sutarties šalys pagal Šri Lankos keliu tiesimo projektus. Pirminiai duomenys surinkti iš pusiau struktūriniu interviu. Jie papildyti dokumentiniais irodymais. Iš rezultatu aiškeja, kad keliu tiesimo projektai Šri Lankoje imlūs daugybei rizikos šaltiniu, o daugeli rizikos rūšiu prisiima šalys, kurioms rizika priskiria sutarties nuostatos. Tačiau šalys, kurioms rizika nera priskirta, kartais irgi patiria tokios rizikos pasekmiu. Todel daroma išvada, kad nera vieno geriausio būdo reaguoti i rizika ir kad reikia taikyti ivairias rizikos valdymo strategijas, siekiant efektyviai spresti rizikos situacijas.

The application of Hermite polynomials to risk allocation

2016 ◽  
Vol 18 (3) ◽  
pp. 77-110
Author(s):  
Francois Buet-Golfouse ◽  
Anthony Owen
Keyword(s):  
Hermite Polynomials ◽  
Risk Allocation

scholarly journals Governing investors and developers: Analysing the role of risk allocation in urban development

Urban Studies ◽  
2021 ◽  
pp. 004209802110178
Author(s):  
Frances Brill
Keyword(s):  
Real Estate ◽  
Private Sector ◽  
Urban Development ◽  
Urban Governance ◽  
Rental Housing ◽  
Risk Allocation ◽  
Housing Provision ◽  
Institutional Investment ◽  
Housing Systems ◽  
Governance Analysis

This article argues that urban governance, and academic theorisations of it, have focused on the role and strategies of real estate developers at the expense of understanding how investors are shaped by regulatory environments. In contrast, using the case of institutional investment in London’s private rental housing (Build to Rent), in this article I argue that unpacking the private sector and the development process helps reveal different types of risk which necessitate variegated responses from within the real estate sector. In doing so, I demonstrate the complexities of the private sector in urban development, especially housing provision, and the limitations of a binary conceptualised around pro- and anti-development narratives when discussing planning decisions. Instead, I show the multiplicity of responses from within the private sector, and how these reflect particular approaches to risk management. Uncovering this helps theorise the complexities of governing housing systems and demonstrates the potential for risk-based urban governance analysis in the future.

scholarly journals Risk Handling Responsibilities in Tanzanian Project-Based Organisations

2021 ◽  
Vol 13 (14) ◽  
pp. 8078
Author(s):  
Nyamagere Gladys Sospeter ◽  
Nicholas Chileshe
Keyword(s):  
Dar Es Salaam ◽  
Primary Data ◽  
Historical Cost ◽  
Inadequate Knowledge ◽  
Related Risk ◽  
Road Projects ◽  
Sub Saharan ◽  
Risk Handling ◽  
Shared Risk ◽  
Quality Provision

Risk handling is one of the elements and essential parts of risk management when properly incorporated into a project. However, there is inadequate knowledge amongst the contractual parties on risk handling responsibilities in road projects, particularly in Sub-Saharan African developing countries. This study is aimed at bridging that knowledge gap by investigating the perceptions of contractors and consultants on the risk handling responsibilities in road projects in Tanzania. The primary data were collected from 80 registered foreign and local civil contractors and engineering consultants based in Dar es Salaam. Descriptive statistics and inferential statistics were used for the data analysis. The results show that both contractors and consultants ranked safety project provision and ensuring quality provision in terms of construction as shared risk responsibilities among contractual parties. The findings further show that consultant-related risk responsibilities are: safety provision, the use of historical cost deviation, ensuring quality provision, and review of knowledge on budgeting. On the other hand, contractor-related risk responsibilities include: safety provision and ensuring quality provision. The findings of this study can be used by the practitioners and stakeholders as important lessons useful for controlling risks and making decisions when they intend to participate in such projects during the construction stage.

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