scholarly journals Risk-management of public-private partnership innovation projects

2021 ◽  
Vol 5 (2) ◽  
pp. 155-165
Author(s):  
Iryna Boiarko ◽  
Oleksandra Tverezovska ◽  
Jan Polcyn ◽  
Radoslaw Miskiewicz
Keyword(s):  
Risk Management ◽  
Comprehensive Evaluation ◽  
Production Capacity ◽  
Fuzzy Comprehensive Evaluation ◽  
Public Private Partnership ◽  
Management Problem ◽  
Private Partnership ◽  
Innovation Projects ◽  
Innovation Project ◽  
Criticality Analysis

This paper recapitulates the argumentations from various scientific discussion concerning the issue of projects` risk management. The article mainly is aimed to analyze the process of risk-management of the innovation projects in the form of public-private partnership, to describe a methodologies of Failure mode, effects and criticality analysis and Fuzzy comprehensive evaluation model, to use above mentioned models in the evaluation of the stability risk of public-private partnership innovation projects. Previous research studies on the topic of public-private partnership defined the efficiency of state sector and business cooperation in a form of public-private partnership, demonstrated that it will allow making investments in the production capacity development, broaden the scope of domestic and foreign markets, accelerate industrial growth, refine the quality of goods, services and works, business activity and investment attractiveness. Especially it can be achieved through innovation project implementation. Moreover, systematization the results in the overview process of literary sources and approaches in the issue of innovation public-private projects` risk-management problem-solving specifies that a huge number of theoretical and practical problems, especially of risk evaluation is urgent, remain unsolved and still studied not enough nowadays. An underdevelopment of innovation projects’ risk-management system, especially in our country, is conditioned the relevance of that scientific problem additionally existing in the circumstances of complex public-private partnership innovation projects` risks evaluation. Investigation of the topic «Risk management of public-private partnership innovation projects» in the article is fulfilled in the following logical sequence: defining the problems while literature review, focusing on project risk-management issue, describing the methodology of the research, demonstrating the results, and making conclusions. The object of research is the chosen by creating a prototype of innovation project in the infrastructure field, suggested that it will be implemented in the form of public-private partnership.

scholarly journals Aspiration of Public-Private Partnership Projects’ Risk Management Supported on Probabilistic Linguistic Terms amid Weakened Hedges

2021 ◽  
Vol 2021 ◽  
pp. 1-17
Author(s):  
Yunpeng Sun ◽  
Muneeb Ahmad ◽  
Li Rui ◽  
Saleem Ahmad ◽  
Yousaf Ali Khan
Keyword(s):  
Risk Management ◽  
Impact Analysis ◽  
Failure Modes ◽  
Theoretical Aspect ◽  
Public Private Partnership ◽  
Management Problem ◽  
The Novel ◽  
Linguistic Terms ◽  
Private Partnership ◽  
Vikor Technique

The provision of risk involved in a deal for a public-private partnership (PPP) is an essential aspect of triumph that should be based on the best smart party’s opinion to organize it. This study anticipated the importance of risk management in PPP projects to adjust the risk management dilemma of the PPP projects’ pedestal on the P-LTWHs with a new notion of FMEA. The dynamic linguistic expressions, P-LTWHs, were suggested in the theoretical aspect to articulate decision-makers’ assessments, who take the reluctant information with weakened hedges and the likelihood of the linguistic information into account. Besides, the biprojection technique was used to rank risk management problem failure modes in a PPP project. The probabilistic linguistic terms with compromised hedges evaluate the risk management of the novel failure mode and impact analysis (NFMEA) and rank failure modes with the biprojection technique (P-LTWHs). This study also shows that it is possible to spread risks based on fuzzy set theory among public-private parties effectively. Likewise, with the biprojection practice of LTWHs with the VIKOR technique of P-LTWHs, the predicted model is estimated.

RISK MANAGEMENT IN PUBLIC-PRIVATE PARTNERSHIP AND OTHER MAJOR INFRASTRUCTURE PROJECTS

EDPACS ◽  
2021 ◽  
Vol 63 (5) ◽  
pp. 6-19
Author(s):  
Alex Sidorenko ◽  
Vladimir Kilinkarov ◽  
Alexey Belkov
Keyword(s):  
Risk Management ◽  
Public Private Partnership ◽  
Infrastructure Projects ◽  
Private Partnership

scholarly journals PROACTIVE CONTRACTING IN FINNISH PPP PROJECTS

2009 ◽  
Vol 13 (3) ◽  
pp. 219-228 ◽  
Author(s):  
Antti Tieva ◽  
Juha-Matti Junnonen
Keyword(s):  
Risk Management ◽  
Public Sector ◽  
Private Sector ◽  
Contract Law ◽  
Public Private Partnership ◽  
Private Partnership ◽  
Contractual Arrangements ◽  
Main Target

Public‐private‐partnership projects are long term, complex and very challenging contractual arrangements and relationships. They bring new roles for public sector and also for private sector in terms of construction and services. This paper will go through some features of the Finnish PPPs. Proactive law focuses in practical views as regards contract law and contractual issues. The main target is to prevent problems instead of confronting them. This paper will clarify what proactive law is about in terms of contract law and contracting especially in PPPs. For instance, 20–40 years’ partnership relation with PPPs brings up also dozens of different risks into the picture. This paper will discuss the risks and risk management in terms of proactive law and after that, focus on PPPs in Finland. Santruka Viešojo ir privataus sektoriu partnerystes (VPP) projektai ‐ tai ilgalaikiai, sude tin gi ir itin daug pastangu reikalaujantys sutartiniai susitarimai ir santykiai. Ne tik viešajame, bet ir privačiajame sektoriuje jie sukuria naujus, su statyba ir paslaugomis susijusius, vaidmenis. Šiame darbe apžvelgiami kai kurie Suomijos VPP bruožai. Iniciatyvi teise glaudžiai susijusi su prak ti nemis pažiūromis, sutarčiu teise ir pan. Pagrindinis tikslas ‐ išvengti problemu užuot jas sprendus. Šiame darbe paaiškinama iniciatyvios teises esme sudarant sutartis, ypač VPP. Pavyzdžiui, kai VPP trunka 20–40 metu, susiduriama su daugybe ivairiu rizikos rūšiu. Todel straipsnyje pirmiausia aptariamos rizikos rūšys ir rizikos valdymo būdai taikant iniciatyvia teise, o po to ‐ Suomijos VPP.

scholarly journals RISK MANAGEMENT PRACTICE IN CHINA'S PUBLIC-PRIVATE PARTNERSHIP PROJECTS

2012 ◽  
Vol 18 (5) ◽  
pp. 675-684 ◽  
Author(s):  
Yongjian Ke ◽  
ShouQing Wang ◽  
Albert P. C. Chan
Keyword(s):  
Risk Management ◽  
Quantitative Methods ◽  
Management Practice ◽  
Risk Identification ◽  
Public Private Partnership ◽  
Assessment Tools ◽  
Dominant Factor ◽  
Private Partnership ◽  
Management Culture ◽  
Empirical Survey

Project risks were not properly managed in the many past Public-Private Partnership (PPP) projects in China. Although numerous research studies have been conducted on risk management in China's PPP projects, the realization of risk management in China's construction industry especially in PPP projects with high risk exposure and complicated contract structure has hitherto not been well studied. This paper therefore attempted to examine the current use of risk management in China's PPP projects by an empirical survey. The results indicated that the use of risk management was inadequate; qualitative risk analysis methods were preferred to quantitative and semi-quantitative methods; risk management usage in the execution was found to be much higher than in the planning, conceptual or termination stage; interviewees were unfamiliar with most of the risk identification and assessment tools. All above could be partly due to the project nature, but more fundamentally due to the local industrial culture. The absence of risk management culture was found to be the dominant factor which limited the implementation of risk management in practice. Recommendations to alleviate the difficulties of risk management were thereafter provided in this paper.

scholarly journals Quality Risk Evaluation of the Food Supply Chain Using a Fuzzy Comprehensive Evaluation Model and Failure Mode, Effects, and Criticality Analysis

2018 ◽  
Vol 2018 ◽  
pp. 1-19
Author(s):  
Libiao Bai ◽  
Chunming Shi ◽  
Yuntao Guo ◽  
Qiang Du ◽  
Youdan Huang
Keyword(s):  
Supply Chain ◽  
Food Quality ◽  
Food Supply ◽  
Comprehensive Evaluation ◽  
Evaluation Model ◽  
Fuzzy Comprehensive Evaluation ◽  
Risk Level ◽  
Food Supply Chain ◽  
Quality Risk ◽  
Criticality Analysis

Evaluating the quality risk level in the food supply chain can reduce quality information asymmetry and food quality incidents and promote nationally integrated regulations for food quality. In order to evaluate it, a quality risk evaluation indicator system for the food supply chain is constructed based on an extensive literature review in this paper. Furthermore, a mathematical model based on the fuzzy comprehensive evaluation model (FCEM) and failure mode, effects, and criticality analysis (FMECA) for evaluating the quality risk level in the food supply chain is developed. A computational experiment aimed at verifying the effectiveness and feasibility of this proposed model is conducted on the basis of a questionnaire survey. The results suggest that this model can be used as a general guideline to assess the quality risk level in the food supply chain and achieve the most important objective of providing a reference for the public and private sectors when making decisions on food quality management.

scholarly journals Integrating risk management in the innovation project

2014 ◽  
Vol 17 (1) ◽  
pp. 25-40 ◽  
Author(s):  
John Bowers ◽  
Alireza Khorakian
Keyword(s):  
Risk Management ◽  
Case Studies ◽  
Process Model ◽  
Quantitative Methods ◽  
Innovation Process ◽  
Project Risk Management ◽  
Project Risk ◽  
Content Type ◽  
Innovation Projects ◽  
Innovation Project

Purpose – While innovation has many similarities to other forms of projects it is characterised by a high failure rate and the need to stimulate creativity. More explicit risk management could help in achieving success in innovation projects. However, too much or inappropriate risk management might stifle the creativity that is core to innovation. So, what project risk management should be applied and where in the innovation project? Design/methodology/approach – A theoretical framework is proposed which combines the generic innovation process with project risk management. The framework was used to analyse the current attitudes to managing innovation risk in a series of companies. Findings – The decision points of the stage-gate innovation process model provide an effective interface for incorporating project risk concepts. The general concepts appear most relevant to innovation management though it is useful to customise them to emphasise the particular characteristics of innovation projects. The experience of using the resultant combined model in a number of diverse case studies indicates the relevance of the model in understanding attitudes towards risk management in innovation. The analysis of the case study companies suggested that risk management needs to be applied in differential manner: simple, unobtrusive techniques early in the innovation life cycle with more substantial, quantitative methods being considered for later stages. Research limitations/implications – It would be useful to extend this research by examining more case studies from other countries and industries. Practical implications – The combined innovation and risk management model provides a framework that diverse companies can appreciate. The framework offers a basis for discussing the most appropriate form of risk management in different innovation-based industries. Originality/value – Although there are many separate models for innovation and project risk management described in the literature, there is very little discussion about explicitly combining these theories. This paper aims to help fill this gap in the knowledge.

scholarly journals Risk Assessment of a Cryogenic Globe Valve by Using Combined Group Decision and Fuzzy Comprehensive Evaluation

2021 ◽  
Vol 2021 ◽  
pp. 1-8
Author(s):  
Yi Lu ◽  
Jianming Zheng ◽  
Chen Zhao ◽  
Gang Ren
Keyword(s):  
Decision Making ◽  
Low Temperature ◽  
Group Decision Making ◽  
Failure Modes ◽  
Group Decision ◽  
Comprehensive Evaluation ◽  
Fuzzy Comprehensive Evaluation ◽  
Difficulty Level ◽  
Hazard Evaluation ◽  
Criticality Analysis

When using the risk priority number method to perform a criticality analysis of the failure modes of mechanical products, different subjective factors exist on the part of experts regarding the severity level (S), occurrence probability level (O), and failure modes. The estimation of the detection difficulty level (D) is different, which causes the problem of inaccurate evaluation of the criticality of failure modes. This study proposes a harm analysis method that combines group decision-making and fuzzy comprehensive evaluation. The similarity and difference between an individual expert and the group are used in group decision-making to assign the weight of the expert, thus reducing the influence of subjective factors on the evaluation results. On the basis of the fuzzy comprehensive evaluation method, the weight of three risk elements (S, O, and D) is determined, and a hazard ranking of the interval obtained by group decision-making is performed. The CA (criticality analysis) improvement method is used to analyze the hazard posed by low-temperature shut-off valves. Results indicate that this method can effectively assess the weak links of the low-temperature shut-off valves and improve the accuracy of the hazard evaluation in comparison with the risk priority coefficient method.

Comparative Analysis of the Success Criteria for Public–Private Partnership Projects in Ghana and Hong Kong

2017 ◽  
Vol 48 (4) ◽  
pp. 80-92 ◽  
Author(s):  
Robert Osei-Kyei ◽  
Albert P. C. Chan
Keyword(s):  
Risk Management ◽  
Hong Kong ◽  
Project Success ◽  
Developed Countries ◽  
Public Private Partnership ◽  
Private Partnership ◽  
Developed Economies ◽  
Success Criteria ◽  
Project Success Criteria ◽  
Developing And Developed Countries

The criteria for measuring the success of public–private partnership (PPP) projects have become very topical because of the global interest in PPP project success. This article empirically investigates the differences and similarities of PPP project success criteria in developing and developed economies, represented by Ghana and Hong Kong, respectively. Results reveal profitability, meeting output specifications, and adherence to budget as the top three success criteria in Ghana, whereas adherence to budget, adherence to time, and effective risk management are considered more important in Hong Kong. The findings inform practitioners of the success measures considered in PPP in developing and developed countries.

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