scholarly journals Risk management by SPV partners in toll road public private partnerships

2018 ◽  
Vol 21 (5) ◽  
pp. 711-731 ◽  
Author(s):  
Richard Burke ◽  
Istemi Demirag
Keyword(s):  
Risk Management ◽  
Public Private Partnerships ◽  
Toll Road

Challenges in public private partnerships in construction industry

2019 ◽  
Vol 9 (2) ◽  
pp. 172-185 ◽  
Author(s):  
Sajani Jayasuriya ◽  
Guomin Zhang ◽  
Rebecca Jing Yang
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Stakeholder Management ◽  
Public Private Partnerships ◽  
Research Directions ◽  
Cost Overruns ◽  
Content Type ◽  
Research Findings ◽  
Limited Application ◽  
Whole Life Cycle

PurposePublic private partnerships (PPPs) face challenges in implementation and operation, and need efforts to improve their performance. The purpose of this paper is to review the PPP literature quantitatively and qualitatively, in order to establish challenge themes and set research directions.Design/methodology/approachMore than 4,000 papers published between 2008 and 2017 were retrieved. From this collection, papers from five major international journals were selected to explore extant PPP research findings under six main PPP challenges including: challenges related to financial management, concession period and price determination, operational phase, risk management, PPP project procurement and stakeholder management (SM). Initially, the papers were categorised quantitatively into the identified challenges and subsequently the articles were qualitatively analysed and discussed.FindingsPoor SM, the complexity of risk management models, project delivery time and cost overruns, inadequate consideration of whole life-cycle aspects and over-reliance on a Public Sector Comparator for evaluating PPPs are found to be the most commonly encountered issues. These all warrant more extensive attention and innovative solutions.Practical implicationsPPP projects have faced many challenges in practice and also existing research findings have limited application in practice. Challenges highlighted in this research can be a focus area in practice to improve the performance of PPPs.Originality/valueNo previous reviews have explored the challenges relating to PPP projects and how they can then addressed by further studies in the field. This review is intended to address that gap, and should help to shed light on further research directions to address the emerging challenges in PPP procurement.

Optimal Portfolio Strategy for Risk Management in Toll Road Forecasts and Investments

2017 ◽  
Vol 2670 (1) ◽  
pp. 83-94 ◽  
Author(s):  
Rohan Shah ◽  
Phani R. Jammalamadaka
Keyword(s):  
Time Series ◽  
Risk Management ◽  
A Priori ◽  
Risk Propensity ◽  
Performance Expectations ◽  
Forecast Performance ◽  
Toll Road ◽  
Trade Offs ◽  
Stochastic Time Series ◽  
Stochastic Time

The study leveraged modern portfolio theory and stochastic time series models to develop a risk management strategy for future traffic projections along brownfield toll facilities. Uncertainty in future traffic forecasts may raise concerns about performance reliability and revenue potential. Historical time series traffic data from brownfield corridors were used for developing econometric forecast estimates, and Monte Carlo simulation was used to quantify a priori risks or variance to develop optimal forecasts by using mean-variance optimization strategies. Numerical analysis is presented with historical toll transactions along the Massachusetts Turnpike system. Suggested diversification strategies were found to achieve better long-term forecast efficiencies with improved trade-offs between anticipated risks and returns. Planner and agency forecast performance expectations and risk propensity are thus jointly captured.

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