scholarly journals A Qualitative Analysis of Public Private Partnership (PPP) Project Contracts in the Roads Sector. A Contextual Elucidation of Uganda National Roads Authority (UNRA)

2020 ◽  
Vol 11 (5) ◽  
pp. 44
Author(s):  
Innocent Nuwagaba ◽  
Thekiso Molokwane
Keyword(s):  
Agency Theory ◽  
Road Construction ◽  
Public Private Partnership ◽  
Public Infrastructure ◽  
Private Finance Initiative ◽  
Private Partnership ◽  
Design Build ◽  
Principal Agency Theory ◽  
Very High ◽  
High Chance

Public Private Partnership Projects continue to gain momentum across the world. Governments in developing countries now find PPP projects as an alternative to conventional financing and providing public infrastructure. Guided by the principal agency theory, this study examines different types of PPP Project contracts in the roads sector with specific focus on the Uganda National Roads Authority (UNRA). Contracting out of projects in the roads sector has led to increased costs of road construction in Uganda. The main objectives of this study are to examine the relevance of the principal-agency theory to the adoption of PPP project contracts by UNRA and establish the types of PPP Project contracts suitable for adoption by UNRA. Data was collected through literature survey and interviews. Study findings revealed that Principal-Agency theory is relevant to adoption of PPP project contracts and that UNRA intends to use mainly management PPP contract. It is concluded that principal-agent relationship is very crucial if the execution of PPP Project contracts is to be a success and that there is a very high chance that UNRA is planning to also adopt the use of Build, Own and Transfer (BOT) PPP Project contract in the roads sector. The study recommends that UNRA should ensure a cordial relationship with private parties and not rely solely on management PPP contracts. The organisation should explore other PPP project contracts such as Private Finance Initiative, Leasing, Design Build, Build Operate and Transfer, and then Design Build and Finance. The choice of contracts should always be based on affordability and value for money.

Risk Transferin Public Private Partnership/Private Finance Initiative Procurement Documents:The Differencebetween The United Kingdom and Malaysia

2016 ◽  
Vol 4 (4) ◽  
pp. 30
Author(s):  
Nooriha Abdullah ◽  
Darinka Asenova ◽  
Stephen J. Bailey
Keyword(s):  
United Kingdom ◽  
Public Procurement ◽  
Research Question ◽  
Public Private Partnership ◽  
Private Finance Initiative ◽  
Private Partnership ◽  
Risk Transfer ◽  
Private Finance ◽  
The United Kingdom ◽  
The Uk

The aim of this paper is to analyse the risk transfer issue in Public Private Partnership/Private Finance Initiative (PPP/PFI) procurement documents in the United Kingdom (UK) and Malaysia. It utilises qualitative research methods using documentation and interviews for data collection. The UK documents (guidelines and contracts) identify the risks related to this form of public procurement of services and makeexplicittheappropriateallocation of those risks between the public and the private sector PPP/PFI partners and so the types of risks each party should bear. However, in Malaysia, such allocation of risks was not mentioned in PPP/PFI guidelines. Hence, a question arises regarding whether risk transfer exists in Malaysian PPP/PFI projects, whether in contracts or by other means. This research question is the rationale for the comparative analysis ofdocumentsand practicesrelatingtorisk transfer in the PPP/PFI procurements in both countries. The results clarify risk-related issues that arise in implementing PPP/PFI procurement in Malaysia, in particular how risk is conceptualised, recognised and allocated (whether explicitly or implicitly), whether or not that allocation is intended to achieve optimum risk transfer, and so the implications forachievement ofvalue for moneyor other such objectivesinPPP/PFI.

scholarly journals FEASIBILITY STUDY OF PUBLIC-PRIVATE PARTNERSHIP / VIEŠOJO IR PRIVAČIOJO SEKTORIŲ PARTNERYSTĖS GALIMYBIŲ ANALIZĖ

2011 ◽  
Vol 15 (3) ◽  
pp. 257-274 ◽  
Author(s):  
Ieva Meidutė ◽  
Narimantas Kazimieras Paliulis
Keyword(s):  
Dispute Settlement ◽  
Public Procurement ◽  
Legal Framework ◽  
Public Private Partnership ◽  
Public Infrastructure ◽  
Public And Private ◽  
Private Partnership ◽  
The Public ◽  
Private And Public ◽  
Dispute Settlement Procedure

Public-private partnership may cover various forms of partnership, viz. as the property of the private sector in the state of municipal activities or information and consultations between the public and private sectors, also as an unconventional method of public procurement when the public and private sectors enter into a long-term contract on the establishment of public infrastructure or the provision of public services. The most important thing in implementing PPP projects is to properly draw up the contract between the public and private partners, which should explicitly state all terms and conditions, undertakings and liabilities, evaluate risks, determine the payment mechanism and dispute settlement procedure, etc. In order to reduce any risk associated with such projects, a proper legal framework should be developed, which would provide liabilities and undertakings of both parties of the project (the private and public sectors), and more information should be disbursed as to how such projects are being implemented, what the structures of financing are, and what the benefit of such projects is. Santrauka Viešojo ir privačiojo sektorių partnerystė gali apimti įvairias partnerystės formas: kaip privačiojo sektoriaus nuosavybė valstybės ar savivaldybių veikloje ar informavimas ir konsultavimas tarp viešojo ir privačiojo sektorių, taip pat kaip netradicinis viešujų pirkimų būdas, kai sudaroma ilgalaikė sutartis tarp viešojo ir privačiojo sektorių dėl viešosios infrastruktūros sukūrimo ar viešųjų paslaugų teikimo. Vykdant VPP projektus būtina tinkamai parengti sutartį tarp viešojo ir privataus partnerio, kurioje turi būti vienareikšmiškai apibrėžtos visos sąlygos, įsipareigojimai, atsakomybė, įvertintos rizikos, atsiskaitymo mechanizmas, konfliktų sprendimo tvarka ir t. t. Siekiant sumažinti bet kokią su tokiais projektais susijusią riziką, reikia suformuoti tinkamą teisinę bazę, kuri numatytų abiejų projekto šalių - tiek privačiojo, tiek valstybinio sektoriaus - atsakomybes ir įsipareigojimus, bei teikti daugiau informacijos, kaip tokie projektai vykdomi, kokios finansavimo struktūros, kokia gaunama nauda.

scholarly journals Reasons for Implementing Public-Private Partnership in Road Construction: Perspective from State-Owned Agencies and Private Sector in Ghana

2020 ◽  
Vol 3 (1) ◽  
pp. 23-25
Author(s):  
Simon Ofori Ametepey ◽  
William Gyadu-Asiedu ◽  
Clinton Aigbavboa ◽  
Clinton Aigbavboa
Keyword(s):  
Private Sector ◽  
Hypothesis Test ◽  
Road Construction ◽  
Public Private Partnership ◽  
Functional Responses ◽  
Private Partnership ◽  
The Road ◽  
Alternative Means ◽  
The Government ◽  
Shared Risk

Presently, there is a request by various stakeholders in the road construction sector to embrace public-private partnership (PPP) as an alternative means of solving the road infrastructure deficit in Ghana. To this end, the study sought to identify the underlying reasons for implementing public-private partnership in road construction in Ghana. It also intends to examine the differences in the perception of these reasons by the State-owned Road Agencies (SRA) (who represent the government) and the Private Sector (PS). A questionnaire survey was used to elicit the perceptions of the SRA and PS on the underlying reasons for implementing PPP in road construction in Ghana. An in-depth interview was also conducted among four PPP “experts” in Ghana. Seventy-six functional responses were analysed using Statistical Package for the Social Science (SPSS) to rank the importance of the reasons based on the overall responses, as well as the responses from both the SRA and the PS and to examine the differences in the perceptions between the two groups. “Shortage of government funding”, “Political pressure”, “Economic development pressure of demanding more facilities”, “accelerate project development”, “Allowance for shared risk”, “Ability to raise funds for project by private sector”, and “Facilitate creative and innovative approaches” were found to be the seven most important reasons for adopting PPP in road construction in Ghana. In terms of the differences in perception between the SRA and PS groups, the hypothesis test results indicated that significant differences exist for only a few of the reasons.

scholarly journals THE DEVELOPMENT OF PUBLIC-PRIVATE PARTNERSHIP IN REGIONAL ECONOMY OF RUSSIA

2018 ◽  
Vol 6 (1) ◽  
pp. 5-5
Author(s):  
Ирина Прядко ◽  
Irina Pryadko ◽  
Татьяна Синицына ◽  
Tatyana Sinicyna
Keyword(s):  
Regional Economy ◽  
Influence Factors ◽  
Federal District ◽  
Public Private Partnership ◽  
Public Private Partnerships ◽  
Public Infrastructure ◽  
Private Partnership ◽  
The Public ◽  
Rostov Region

In this article the relevance and economic goals of public-private partnership (PPP) implementation in Russia are defined. The analysis of the realization of PPP projects for public infrastructure creation is carried out. The regions-leaders by the level of PPP development in Russia and the Southern Federal district are identified. The study of the public-private partnerships sphere in the Rostov region is conducted. The influence factors and the basic directions of increase of PPP mechanisms efficiency in the regional economy are considered.

scholarly journals Dynamics of Organisational Capability of Japanese Construction Firm towards Open and Service Innovation through PPP/PFI arrangement

2020 ◽  
Vol 5 (1) ◽  
Author(s):  
Taeko Suehiro ◽  
Kumiko Miyazaki
Keyword(s):  
Open Innovation ◽  
Service Innovation ◽  
Public Private Partnership ◽  
Private Finance Initiative ◽  
Private Partnership ◽  
Construction Firms ◽  
Private Finance ◽  
Construction Company ◽  
Construction Firm ◽  
Collaborative Capabilities

<p>This study examined the influence of Public–Private Partnership (PPP) — or, more specifically, Private Finance Initiative (PFI) — arrangements in relation to open and service innovation in construction firms in Japan. The expectation of the PPP/PFI procurement arrangement is that Japanese construction firms will provide a broader range of services (service innovation) through expanded cooperation with various other firms (open innovation) compared to the conventional procurement scheme.</p><p>Our in-depth case study of a Japanese construction company shows the dynamics of project-based firms' capability accumulation through a PPP/PFI arrangement. The study identified a model of capability development for construction firms towards service and open innovation. It consists of three organisational capabilities: technological capabilities, project capabilities and collaborative capabilities. The model can be seen as an ideal approach for understanding and comparing cases of long-term capability accumulation of project-based firms, especially regarding providing services that meet the public's needs.</p><p> </p><p>Keywords: Public–Private Partnership (PPP); Private Finance Initiative (PFI); Project Capability, Open innovation; Service innovation; Construction firm</p>

scholarly journals Public–Private Partnership Monitor: Pakistan

2021 ◽  
Keyword(s):  
Private Sector ◽  
Energy Sector ◽  
Public Private Partnership ◽  
Public Infrastructure ◽  
Related Services ◽  
Private Partnership ◽  
The Public ◽  
Private Sector Investment ◽  
Total Investment ◽  
The Government

The Government of Pakistan strongly supports public–private partnership (PPP) initiatives. From 1990 to 2019, Pakistan witnessed 108 financially closed PPP projects, with a total investment of approximately $28.4 billion. About 88% of these projects are in the energy sector, attracting more than $24.7billion, followed by investments in the port sector. In early 2021, Parliament approved the amendments to the 2017 PPP Law, enacting the Public Private Partnership Authority (Amendment) Act 2021. This further strengthens the enabling legal and regulatory framework for developing and implementing PPPs, thereby promoting private sector investment in public infrastructure and related services.

scholarly journals Assessing Financial Risk in Public-Private Partnership Financing for Road Construction Projects in Iran Using Uncertainty Conditions Approach

2020 ◽  
Vol 10 (2) ◽  
pp. 139-146
Author(s):  
M. Jaafarian ◽  
A. Ardeshir ◽  
A. Firozi Boyaghchi
Keyword(s):  
Associate Degree ◽  
Construction Projects ◽  
Financial Risk ◽  
Large Scale ◽  
Minimum Degree ◽  
Road Construction ◽  
Public Private Partnership ◽  
Private Partnership ◽  
Political Risks ◽  
Research Population

AbstractPrivate section investment in the construction of transportation infrastructure, one of the most important of which is freeway projects, has been extensively used in developing countries in recent decades. However, in many cases due to the lack of necessary investigations and studies, the criteria have not been properly identified and, as a result, the proper way of participating in large-scale transport projects has resulted in numerous problems and, in some cases, project failure. However, choosing a private-public partnership will have a major impact on the success of freeway construction. However, due to the current conditions of the country’s economy, these projects are following with some risks. Therefore, in this study, the financial risk assessment of “public-private partnership” financing for road construction projects in Iran was investigated using the uncertainty approach and the BAS method. The research population of this study consisted of 23 researchers and experts with Ph.D. degree in finance with minimum degree of associate degree and experience of research and financial consulting in investment firms. According to the results, the lack of stability in planning and implementation of government programs and political risks, increases the risk of road construction projects and, in this regard, controlling the price fluctuations and bank financing of road construction projects can reduce the risk of these projects.

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