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Risk Management in Public–Private Partnership Contracts

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  • Tahir Nisar

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Abstract

Public–private partnerships (PPPs) allow private companies to build, own and operate public projects such as schools and hospitals on behalf of the public sector. PPP contracts commonly require the private agent to take responsibilities for the performance of the asset over a long term, at least for a significant part of its useful life, so that efficiencies arising from long-term investment and asset management can be realized. However, the evidence is finely balanced on the effectiveness of such initiatives in obtaining the intended goals. This brings to the fore the challenge of designing and implementing innovative partnership plans to manage public services more effectively. More emphasis needs to be placed on strategies for the transfer of risk for the successful conclusion of PPP contracts. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Tahir Nisar, 2007. "Risk Management in Public–Private Partnership Contracts," Public Organization Review, Springer, vol. 7(1), pages 1-19, March.
  • Handle: RePEc:kap:porgrv:v:7:y:2007:i:1:p:1-19 DOI: 10.1007/s11115-006-0020-1
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    File URL: http://hdl.handle.net/10.1007/s11115-006-0020-1
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    References listed on IDEAS

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    1. Timothy Besley & Maitreesh Ghatak, 2001. "Government Versus Private Ownership of Public Goods," The Quarterly Journal of Economics, Oxford University Press, vol. 116(4), pages 1343-1372.
    2. M.G. Pollitt, 2000. "The Declining Role of the State in Infrastructure Investments in the UK," Cambridge Working Papers in Economics 0001, Faculty of Economics, University of Cambridge.
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    Cited by:

    1. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Discussion Paper 2014-017, Tilburg University, Tilburg Law and Economic Center.
    2. Cruz, Carlos Oliveira & Marques, Rui Cunha, 2011. "Contribution to the study of PPP arrangements in airport development, management and operation," Transport Policy, Elsevier, vol. 18(2), pages 392-400, March.
    3. Ph.D. Candidate Marina ZAHARIOAIE, 2011. "Analiza utilizarii parteneriatului public-privat in externalizarea activitatii administrative - The Analysis of the Use of Public-Private Partnership in Outsourcing Administrative work (Romanian versi," Logos Universalitate Mentalitate Educatie Noutate - Sectiunea Stiinte Economice si Administrative/ Logos Universality Mentality Education Novelty - Section: Economical and Administrative Sciences, Editura Lumen, Department of Economics, vol. 1, pages 197-206, February.

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