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Rủi ro trong dự án PPP

Được đăng lên bởi Nguyen Trong Khoi
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Empirical Study of Risk Assessment and Allocation
of Public-Private Partnership Projects in China
Albert P. C. Chan1; John F. Y. Yeung2; Calvin C. P. Yu3; Shou Qing Wang4; and Yongjian Ke5

Abstract: Earlier research studies on public-private partnership (PPP) indicated that an objective, reliable, and practical risk assessment
model for PPP projects and an equitable risk allocation mechanism among different parties are crucial to the successful implementation of
these PPP projects. However, actual empirical research works in this research area are limited. This paper reports the first stage of a research
study, which aims to identify and assess the principal risks for the delivery of PPP projects in China and to address their proper risk allocation
between the private and public sectors. An empirical questionnaire survey was designed to examine the relative importance of different risk
factors and to analyze the allocation of risk factors to different parties in PPP projects. A total of 580 questionnaires were sent out, and a total
of 105 valid responses were obtained for data analysis. The Mann-Whitney U test is employed to investigate whether significant difference in
perception existed first between the private and public sectors and second between industrial practitioners and academics in China. The
empirical findings show that the three most important risk factors for PPP projects in China are (1) government intervention; (2) government
corruption; and (3) poor public decision-making processes. These findings reveal that the Chinese government intervention and corruption
may be the major obstacles to the success of PPP projects in China. A major cause for these risks may be attributed to inefficient legislative
and supervisory systems for PPP projects in China. After conducting the Mann-Whitney U test on the 105 survey respondents, the empirical
findings indicate that the perceptions of all 34 risk factors in China between the private and public sectors were not significantly different.
Similarly, there were no significant differences between academics and industrial practitioners except that the former perceived the problem of
government corruption to be more severe than did the latter. For risk allocation, the empirical results indicate that the public and private
sectors were in general consensus with most of the risks identified. The major risks that the public sector preferred to accept are within the
systematic risk category, especially politic...
Empirical Study of Risk Assessment and Allocation
of Public-Private Partnership Projects in China
Albert P. C. Chan
1
; John F. Y. Yeung
2
; Calvin C. P. Yu
3
; Shou Qing Wang
4
; and Yongjian Ke
5
Abstract: Earlier research studies on public-private partnership (PPP) indicated that an objective, reliable, and practical risk assessment
model for PPP projects and an equitable risk allocation mechanism among different parties are crucial to the successful implementation of
these PPP projects. However, actual empirical research works in this research area are limited. This paper reports the first stage of a research
study, which aims to identify and assess the principal risks for the delivery of PPP projects in China and to address their proper risk allocation
between the private and public sectors. An empirical questionnaire survey was designed to examine the relative importance of different risk
factors and to analyze the allocation of risk factors to different parties in PPP projects. A total of 580 questionnaires were sent out, and a total
of 105 valid responses were obtained for data analysis. The Mann-Whitney U test is employed to investigate whether significant difference in
perception existed first between the private and public sectors and second between industrial practitioners and academics in China. The
empirical findings show that the three most important risk factors for PPP projects in China are (1) government intervention; (2) government
corruption; and (3) poor public decision-making processes. These findings reveal that the Chinese government intervention and corruption
may be the major obstacles to the success of PPP projects in China. A major cause for these risks may be attributed to inefficient legislative
and supervisory systems for PPP projects in China. After conducting the Mann-Whitney U test on the 105 survey respondents, the empirical
findings indicate that the perceptions of all 34 risk factors in China between the private and public sectors were not significantly different.
Similarly, there were no significant differences between academics and industrial practitioners except that the former perceived the problem of
government corruption to be more severe than did the latter. For risk allocation, the empirical results indicate that the public and private
sectors were in general consensus with most of the risks identified. The major risks that the public sector preferred to accept are within the
systematic risk category, especially political, legal, and social risks. The private sector preferred to retain the principal risks within the specific
project risk category, especially construction, operation, and relationship risks, in addition to economic risks within systematic risk category.
The remaining risk, environment risk, is preferred to be shared between the two sectors. This research study enables international construction
companies to better understand how risks should be assessed and allocated for PPP projects in China. It also assists in risk response planning
and control for future PPP projects in China. DOI: 10.1061/(ASCE)ME.1943-5479.0000049. © 2011 American Society of Civil Engineers.
CE Database subject headings: Private sector; Partnerships; Risk management; China.
Author keywords: Public-private partnerships (PPP); Risk assessment; Risk allocation; Risk management; China.
Introduction
China is one of the most densely populated countries in the world.
The estimated urban population in China is projected to increase
to approximately 827 million in 2025 (United Nations 2004). To
alleviate the negative impact of unorganized urbanization growth,
mass rapid transit has been prioritized as a key transport mode in
mega cities. Other public facilities are also in high demand to cope
with the increasing urbanization growth. However, inadequate
government funding may limit the development of these projects.
Public-private partnership (PPP) financing modalities have been
identified as innovative tools for financing major infrastructure
projects.
PPPs or private finance initiatives (PFI) originally arose in the
United Kingdom (UK) during the late 1980s and early 1990s
(Tieman 2003; Li et al. 2005). Since their introduction, PFIs have
become the UK governments preferred method of publ ic infra-
structure procurement (Handley-Schachler and Gao 2003). In gen-
eral, PPP is regarded as a general term covering all contracted
relationships between the public and private sectors to produce
an asset or deliver a service. The Hong Kong Efficiency Unit
(2008) suggested that PPPs are collaborations in which the public
and private sectors both bring their complementary skills to a
project, with different levels of involvement and responsibility,
for the sake of providing public services more efficiently. The
European Com mission (2004) defined PPP as forms of cooperation
between public authorities and the world of business aiming to en-
sure the funding, construction, renovation, management, and main-
tenance of an infrastructure project. The International Monetary
1
Professor and Associate Head, Dept. of Building and Real Estate, The
Hong Kong Polytechnic Univ., Hung Hom, Kowloon, Hong Kong, China.
2
Lecturer I, College of International Education, School of Continuing
Education, Hong Kong Baptist Univ.; formerly, Postdoctoral Fellow, Dept.
of Building and Real Estate, The Hong Kong Polytechnic Univ., Hung
Hom, Kowloon, Hong Kong, China (corresponding author). E-mail:
jfyyeung@hkbu.edu.hk
3
Research Student, Dept. of Building and Real Estate, The Hong Kong
Polytechnic Univ., Hung Hom, Kowloon, Hong Kong, China.
4
Professor, Dept. of Construction Management, Tsinghua Univ.,
Beijing, China.
5
Research Fellow, Dept. of Building, National Univ. of Singapore, 4
Architecture Drive, Singapore 117566; formerly, Dept. of Construction
Management, Tsinghua Univ., Beijing, 100084, China.
Note. This manuscript was submitted on August 11, 2009; approved on
October 28, 2010; published online on October 30, 2010. Discussion period
open until December 1, 2011; separate discussions must be submitted for
individual papers. This paper is part of the Journal of Management in
Engineering, Vol. 27, No. 3, July 1, 2011. ©ASCE, ISSN 0742-597X/
2011/3-136148/$25.00.
136 / JOURNAL OF MANAGEMENT IN ENGINEERING © ASCE / JULY 2011
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