Details
| Original language | English |
|---|---|
| Article number | 17 |
| Number of pages | 18 |
| Journal | Administrative Sciences |
| Volume | 9 |
| Issue number | 1 |
| Early online date | 10 Feb 2019 |
| Publication status | Published - Mar 2019 |
Abstract
The complexity of public–private partnership (PPP) projects ensures that risks could emerge and spread in unpredictable ways if they are not well identified and managed. The emergence of PPP projects has brought major changes in the construction industry, the most notable being in procurement methods influencing risk allocation to private parties. Thus, it is crucial to have an effective risk management for public and private partners to eliminate or minimise risks. Formulating an effective risk management system is a crucial challenge faced by both of parties in order to minimise or optimise risks. The aim of this study was to investigate the process of risk identification of private partners in Malaysian PPP projects. Data were collected throughout a 2-month period using a survey with a sample of nine Malaysian companies engaged in PPP projects, and the survey results were analysed using mean scores. The findings indicate that due to a lack of knowledge and experience of Malaysian private partners in the risk identification process, a comprehensive database for risk identification is highly necessary for the private sector. Another issue emerging from the findings is that it may be reasonable to use a combination of risk identification tools for PPP projects with a high level of complexity. The findings of the present study can greatly assist public and private partners to select the most appropriate tools for risk identification at the early stages of PPP projects.
Keywords
- Malaysia, PPP, Private partner, Risk identification, Risk management
ASJC Scopus subject areas
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In: Administrative Sciences, Vol. 9, No. 1, 17, 03.2019.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Approaches to Risk Identification in Public–Private Partnership Projects
T2 - Malaysian Private Partners’ Overview
AU - Sarvari, Hadi
AU - Valipour, Alireza
AU - Yahya, Nordin
AU - Noor, Norhazilan MD
AU - Beer, Michael
AU - Banaitiene, Nerija
N1 - Funding Information: Funding: This research was funded by Universiti Teknologi Malaysia and the Ministry of Science, Technology and Innovation (MOSTI) of Malaysia, ScienceFund, grant number 4S084. Acknowledgments: We acknowledge Universiti Teknologi Malaysia and the Ministry of Science, Technology and Innovation (MOSTI) of Malaysia for supporting this research. We also acknowledge those from private companies who participated in the related questionnaire survey and interviews.
PY - 2019/3
Y1 - 2019/3
N2 - The complexity of public–private partnership (PPP) projects ensures that risks could emerge and spread in unpredictable ways if they are not well identified and managed. The emergence of PPP projects has brought major changes in the construction industry, the most notable being in procurement methods influencing risk allocation to private parties. Thus, it is crucial to have an effective risk management for public and private partners to eliminate or minimise risks. Formulating an effective risk management system is a crucial challenge faced by both of parties in order to minimise or optimise risks. The aim of this study was to investigate the process of risk identification of private partners in Malaysian PPP projects. Data were collected throughout a 2-month period using a survey with a sample of nine Malaysian companies engaged in PPP projects, and the survey results were analysed using mean scores. The findings indicate that due to a lack of knowledge and experience of Malaysian private partners in the risk identification process, a comprehensive database for risk identification is highly necessary for the private sector. Another issue emerging from the findings is that it may be reasonable to use a combination of risk identification tools for PPP projects with a high level of complexity. The findings of the present study can greatly assist public and private partners to select the most appropriate tools for risk identification at the early stages of PPP projects.
AB - The complexity of public–private partnership (PPP) projects ensures that risks could emerge and spread in unpredictable ways if they are not well identified and managed. The emergence of PPP projects has brought major changes in the construction industry, the most notable being in procurement methods influencing risk allocation to private parties. Thus, it is crucial to have an effective risk management for public and private partners to eliminate or minimise risks. Formulating an effective risk management system is a crucial challenge faced by both of parties in order to minimise or optimise risks. The aim of this study was to investigate the process of risk identification of private partners in Malaysian PPP projects. Data were collected throughout a 2-month period using a survey with a sample of nine Malaysian companies engaged in PPP projects, and the survey results were analysed using mean scores. The findings indicate that due to a lack of knowledge and experience of Malaysian private partners in the risk identification process, a comprehensive database for risk identification is highly necessary for the private sector. Another issue emerging from the findings is that it may be reasonable to use a combination of risk identification tools for PPP projects with a high level of complexity. The findings of the present study can greatly assist public and private partners to select the most appropriate tools for risk identification at the early stages of PPP projects.
KW - Malaysia
KW - PPP
KW - Private partner
KW - Risk identification
KW - Risk management
UR - http://www.scopus.com/inward/record.url?scp=85076713123&partnerID=8YFLogxK
U2 - 10.3390/admsci9010017
DO - 10.3390/admsci9010017
M3 - Article
VL - 9
JO - Administrative Sciences
JF - Administrative Sciences
SN - 2076-3387
IS - 1
M1 - 17
ER -