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A principal-agent theory perspective on PPP risk allocation

Shrestha, Asheem, Tamošaitienė, Jolanta, Martek, Igor, Hosseini, M. Reza and Edwards, David J. 2019, A principal-agent theory perspective on PPP risk allocation, Sustainability, vol. 11, no. 22, doi: 10.3390/su11226455.

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Title A principal-agent theory perspective on PPP risk allocation
Author(s) Shrestha, AsheemORCID iD for Shrestha, Asheem orcid.org/0000-0001-6080-4068
Tamošaitienė, Jolanta
Martek, IgorORCID iD for Martek, Igor orcid.org/0000-0001-6573-1291
Hosseini, M. RezaORCID iD for Hosseini, M. Reza orcid.org/0000-0001-8675-736X
Edwards, David J.
Journal name Sustainability
Volume number 11
Issue number 22
Article ID 6455
Total pages 18
Publisher Mary Ann Liebert
Place of publication New Rochelle, N.Y.
Publication date 2019
ISSN 1937-0695
2071-1050
Summary This study proposes a framework for the allocation of risk in public private partnerships (PPP) projects. Its contribution lies in the recognition and incorporation of risks introduced by project stakeholders, and as articulated by the principal-agent theory (PAT). The framework assesses risks and routes these risks to those parties best equipped to mitigate their impact on the project. This allocation of risk is facilitated by a thirteen-step process. The practical benefit of this study lies in outlining a clear, systematic method for allocating risk efficiently to both the government and private enterprise parties of the project. In so doing, risk mitigation can be expected to improve project performance, optimize stakeholder goals, and enhance sustainability objectives, including improved operational life-cycle efficiency and elevated social and community benefits.
Language eng
DOI 10.3390/su11226455
Indigenous content off
Field of Research 0502 Environmental Science and Management
1605 Policy and Administration
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2019, The Authors
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30131980

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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.