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Exploring potential success factors for procurement of privately financed infrastructure Jin, Xiao-Hua, Liu, Chunlu, Zuo, Jian and Zhang, Guomin 2011, Exploring potential success factors for procurement of privately financed infrastructure, in ICCEPM 2011 : 4th International Conference on Construction Engineering and Project Management, [ICCEPM], Sydney, N.S.W., pp. 1-10. Title Exploring potential success factors for procurement of privately financed infrastructure Author(s) Jin, Xiao-Hua Liu, Chunlu Zuo, Jian Zhang, Guomin Conference name Construction Engineering and Project Management. Conference (4th : 2011 : Sydney, N. S. W.) Conference location Sydney, NSW Conference dates 16 –18 Feb. 2011 Title of proceedings ICCEPM 2011 : 4th International Conference on Construction Engineering and Project Management Editor(s) Han, Sangwon Davis, Steven Wang, Xiangyu Kim, Jinu Carmichael, David Publication date 2011 Conference series Construction Engineering and Project Management. Conference Start page 1 End page 10 Total pages 10 Publisher [ICCEPM] Place of publication Sydney, N.S.W. Keyword(s) success factors public-private partnership infrastructure procurement transaction cost economics Summary Australia has joined many governments to adopt public-private partnership (PPP) as a major strategy for procuring infrastructure for decades. However, failures have occurred although the market has been considered to be a mature and sophisticated one. Failures have typically been traced back to inappropriate economic evaluation and a lack of value-for-money. In particular, a literature review has identified that there was no holistic consideration on the evaluation of procurement transactions of PPP projects. The transaction costs of PPPs were not handled properly. In this paper, theories of transaction cost economics are proposed for the purpose of such a holistic institutional economic evaluation. These theories are analysed in order to identify potential critical success factors for a strategic infrastructure procurement framework. The potential critical success factors are identified and grouped into a number of categories that match the theories of transaction cost economics. These categories include (1) Asset Specificity, (2) Organizational Capability, (3) Transaction Frequency, (4) Behavioural Uncertainty, and (5) Environmental Uncertainty. These potential critical success factors may be subject to an empirical test in the future. The proposed framework will offer decision makers with an insight into project life cycle economic outcomes needed to successfully deliver PPPs. Language eng Field of Research 120201 Building Construction Management and Project Planning Socio Economic Objective 910402 Management HERDC Research category E1 Full written paper - refereed Copyright notice ©2011, ICCEPM-2011 Persistent URL http://hdl.handle.net/10536/DRO/DU:30045631 Document type: Conference Paper Collection: School of Architecture and Built Environment Related Links Link Description Connect to conference website Go to link with your DU access privileges     Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved. Versions Version Filter Type Thu, 31 May 2012, 15:19:38 EST Fri, 01 Jun 2012, 12:11:44 EST Fri, 01 Jun 2012, 12:12:23 EST Fri, 01 Jun 2012, 12:13:09 EST Fri, 01 Jun 2012, 13:07:36 EST Fri, 01 Jun 2012, 13:29:44 EST Mon, 03 Jun 2013, 17:01:14 EST Filtered Full Access Statistics: 86 Abstract Views, 7 File Downloads  -  Detailed Statistics Created: Thu, 31 May 2012, 15:19:14 EST by Sandra Dunoon

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