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Title: Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview
Authors: Sarvari, Hadi
Valipour, Alireza
Yahya, Nordin
Noor, Norhazilan
Beer, Michael
Banaitienė, Nerija
Keywords: risk identification
risk management
private partner
Issue Date: 2019
Publisher: MDPI
Citation: Sarvari, H.; Valipour, A.; Yahya, N.; Noor, N.M.; Beer, M.; Banaitiene, N. Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview. Adm. Sci. 2019, 9, 17.
Series/Report no.: 9;1
Abstract: The complexity of public–private partnership (PPP) projects ensures that risks could emerge and spread in unpredictable ways if they are not well identified and managed. The emergence of PPP projects has brought major changes in the construction industry, the most notable being in procurement methods influencing risk allocation to private parties. Thus, it is crucial to have an effective risk management for public and private partners to eliminate or minimise risks. Formulating an effective risk management system is a crucial challenge faced by both of parties in order to minimise or optimise risks. The aim of this study was to investigate the process of risk identification of private partners in Malaysian PPP projects. Data were collected throughout a 2-month period using a survey with a sample of nine Malaysian companies engaged in PPP projects, and the survey results were analysed using mean scores. The findings indicate that due to a lack of knowledge and experience of Malaysian private partners in the risk identification process, a comprehensive database for risk identification is highly necessary for the private sector. Another issue emerging from the findings is that it may be reasonable to use a combination of risk identification tools for PPP projects with a high level of complexity. The findings of the present study can greatly assist public and private partners to select the most appropriate tools for risk identification at the early stages of PPP projects.
Description: This article belongs to the Special Issue Rational Decision Making in Risk Management
ISSN: 2076-3387
Appears in Collections:Moksliniai straipsniai / Research articles

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