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Abdul-Aziz, A R (2009) Locational factors and foreign market-entry considerations for Malaysian contractors. Construction Economics and Building, 9(01), 27-36.

Hardie. M and Saha, S (2009) Builders' perceptions of lowest cost procurement and its impact on quality. Construction Economics and Building, 9(01), 1-8.

Jin, X-H (2009) Allocating risks in public-private partnerships using a transaction cost economic approach: a case study. Construction Economics and Building, 9(01), 19-26.

  • Type: Journal Article
  • Keywords: Transaction cost economics; public-private partnerships; risk allocation
  • ISBN/ISSN: 1445-2634
  • URL: https://doi.org/10.5130/AJCEB.v9i1.3011
  • Abstract:
    Public-private partnership (PPP) projects are often characterised by increased complexity and uncertainty due to their idiosyncrasy in the management and delivery processes such as long-term lifecycle, incomplete contracting, and the multitude of stakeholders. An appropriate risk allocation is particularly crucial to achieving project success. This paper focuses on the risk allocation in PPP projects and argues that the transaction cost economics (TCE) theory can integrate the economics part, which is currently missing, into the risk management research. A TCE-based approach is proposed as a logical framework for allocating risks between public and private sectors in PPP projects. A case study of the Southern Cross Station redevelopment project in Australia is presented to illustrate the approach. The allocation of important risks is put under scrutiny. Lessons learnt are discussed and alternative management approaches drawing on TCE theory are proposed.

Langston, Y and Langston, C (2009) The inherent building energy-cost relationship: an analysis of thirty Melbourne case studies. Construction Economics and Building, 9(01), 9-18.

Ofori, G and Toor, S (2009) Role of leadership in transforming the profession of quantity surveying. Construction Economics and Building, 9(01), 37-44.

Suriyanon, N and Chovichien, V (2009) Applying conjoint analysis to study attitudes of Thai government organisations. Construction Economics and Building, 9(01), 45-54.