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

Jin, Xiao-Hua, Lee, Chyi Lin and Zhang, Guomin 2011, Critical uncertainty factors for efficient allocation of demand risk in privately financed public infrastructure projects in Australia, International journal of project organisation and management, vol. 3, no. 3/4, pp. 243-257.

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Title Critical uncertainty factors for efficient allocation of demand risk in privately financed public infrastructure projects in Australia
Author(s) Jin, Xiao-Hua
Lee, Chyi Lin
Zhang, Guomin
Journal name International journal of project organisation and management
Volume number 3
Issue number 3/4
Start page 243
End page 257
Total pages 15
Publisher Inderscience Publishers
Place of publication Olney, England
Publication date 2011
ISSN 1740-2891
1740-2905
Keyword(s) uncertainty
risk allocation
demand risk
transaction cost economics
public-private partnership
PPP
Australia
Summary Risk allocation in privately financed public infrastructure projects, which are mainly referred as public-private partnership (PPP) projects, is a challenging job due to the nature of incomplete contracting. Among the various risks that may eventually materialise, demand risk is one of the major challenges that PPPs face. Choosing a risk allocation strategy could be viewed as the process of deciding the proportion of risk management responsibility between public and private partners based on a series of characteristics of risk management service transaction in question. These characteristics are more or less related to the various uncertainty factors. In this study, various uncertainty factors have been examined in order to achieve efficient allocation of demand risk and minimise risk management-related costs in a long-term view. Critical uncertainty factors have been identified through an industry-wide survey in Australia. 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, Inderscience Enterprises
Persistent URL http://hdl.handle.net/10536/DRO/DU:30045536

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