Allocating risks in public-private partnership projects using a transaction cost economics approach - a case study

Jin, Xiao-Hua 2009, Allocating risks in public-private partnership projects using a transaction cost economics approach - a case study, Australian journal of construction economics and building, vol. 9, no. 1, pp. 19-26.

Attached Files
Name Description MIMEType Size Downloads

Title Allocating risks in public-private partnership projects using a transaction cost economics approach - a case study
Author(s) Jin, Xiao-Hua
Journal name Australian journal of construction economics and building
Volume number 9
Issue number 1
Start page 19
End page 26
Publisher Australian Institute of Quantity Surveyors
Place of publication Deakin West, A.C.T.
Publication date 2009
ISSN 1445-2634
Keyword(s) procurement
risk allocation
transaction cost
public-private partnership
Melbourne
Summary Public-private partnership (PPP) projects are often characterised by increased complexity and uncertainty due to their idiosyncrasy in the management and delivery processes such as long-term lifecycle, incomplete contracting, and the multitude of stakeholders. An appropriate risk allocation is particularly crucial to achieving project success. This paper focuses on the risk allocation in PPP projects and argues that the transaction cost economics (TCE) theory can integrate the economics part, which is currently missing, into the risk management research. A TCE-based approach is proposed as a logical framework for allocating risks between public and private sectors in PPP projects. A case study of the Southern Cross Station redevelopment project in Australia is presented to illustrate the approach. The allocation of important risks is put under scrutiny. Lessons learnt are discussed and alternative management approaches drawing on TCE theory are proposed.
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 910402 Management
HERDC Research category C1 Refereed article in a scholarly journal
Persistent URL http://hdl.handle.net/10536/DRO/DU:30024059

Document type: Journal Article
Collection: School of Architecture and Built Environment
Connect to link resolver
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Versions
Version Filter Type
Access Statistics: 676 Abstract Views, 29 File Downloads  -  Detailed Statistics
Created: Fri, 26 Feb 2010, 07:39:46 EST

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.