Critical uncertainty factors for efficient risk allocation in privately financed public infrastructure projects in Australia

Jin, Xiao-Hua and Zuo, Jian 2011, Critical uncertainty factors for efficient risk allocation in privately financed public infrastructure projects in Australia, International journal of construction management, vol. 11, no. 3, pp. 19-34.

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Title Critical uncertainty factors for efficient risk allocation in privately financed public infrastructure projects in Australia
Author(s) Jin, Xiao-Hua
Zuo, Jian
Journal name International journal of construction management
Volume number 11
Issue number 3
Start page 19
End page 34
Total pages 16
Publisher Chinese Research Institute of Construction Management
Place of publication Hong Kong
Publication date 2011
ISSN 1562-3599
Keyword(s) uncertainty
risk allocation
public-private partnership
Australia
Summary Risk allocation in privately financed public infrastructure projects, commonly referred to as public-private partnership (PPP) projects, is a challenging job due to the nature of incomplete contracting. Choosing a risk allocation strategy could be viewed as the process of deciding the proportion of risk management attributable to the public and private partners based on a series of characteristics of the risk management service transaction in question. These characteristics can be related to the various uncertainty factors. In this study, uncertainty factors have been grouped into Institutional, Social and industrial, Economic, and Project-specific categories and examined in order to achieve efficient risk allocation and minimize risk management-related costs in a long-term view. Critical uncertainty factors for the allocation of three major risks have been identified through an industry-wide survey in Australia. These identified critical uncertainty factors are expected to help decision-makers from both public and private sectors choose efficient allocation strategies for major risks. Future research directions are also set out.
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
HERDC collection year 2011
Copyright notice ©2011, CRIOCM
Persistent URL http://hdl.handle.net/10536/DRO/DU:30045535

Document type: Journal Article
Collection: School of Architecture and Built Environment
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