VGTU talpykla >
Statybos fakultetas / Faculty of Civil Engineering >
Moksliniai straipsniai / Research articles >
Please use this identifier to cite or link to this item:
http://dspace.vgtu.lt/handle/1/3946
|
Title: | A Principal-Agent Theory Perspective on PPP Risk Allocation |
Authors: | Shrestha, Asheem Tamošaitienė, Jolanta Martek, Igor Hosseini, M Reza Edwards, David J |
Keywords: | risk allocation public private partnerships PPP principal-agent theory |
Issue Date: | 2019 |
Publisher: | MDPI |
Citation: | Shrestha, A.; Tamošaitienė, J.; Martek, I.; Hosseini, M.R.; Edwards, D.J. A Principal-Agent Theory Perspective on PPP Risk Allocation. Sustainability 2019, 11, 6455. |
Series/Report no.: | 11;22 |
Abstract: | 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. |
Description: | This article belongs to the Special Issue Sustainability and Risks in Construction Management |
URI: | http://dspace.vgtu.lt/handle/1/3946 |
ISSN: | 2071-1050 |
Appears in Collections: | Moksliniai straipsniai / Research articles
|
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.
|