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Al-Sobiei, O S, Arditi, D and Polat, G (2005) Managing Owner’s Risk of Contractor Default. Journal of Construction Engineering and Management, 131(09), 973–8.

Gambatese, J A, Behm, M and Hinze, J W (2005) Viability of Designing for Construction Worker Safety. Journal of Construction Engineering and Management, 131(09), 1029–36.

Goodrum, P M and Dai, J (2005) Differences in Occupational Injuries, Illnesses, and Fatalities among Hispanic and Non-Hispanic Construction Workers. Journal of Construction Engineering and Management, 131(09), 1021–8.

Harper, D G and Bernold, L E (2005) Success of Supplier Alliances for Capital Projects. Journal of Construction Engineering and Management, 131(09), 979–85.

Jiang, G and Shi, J (2005) Exact Algorithm for Solving Project Scheduling Problems under Multiple Resource Constraints. Journal of Construction Engineering and Management, 131(09), 986–92.

Kilian, J J and Gibson, G E (2005) Construction Litigation for the U.S. Naval Facilities Engineering Command, 1982–2002. Journal of Construction Engineering and Management, 131(09), 945–52.

Mohamed, Y and AbouRizk, S (2005) Technical Knowledge Consolidation using Theory of Inventive Problem Solving. Journal of Construction Engineering and Management, 131(09), 993–1001.

O’Connor, J T and Huh, Y (2005) Crew Production Rates for Contract Time Estimation: Bent Footing, Column, and Cap of Highway Bridges. Journal of Construction Engineering and Management, 131(09), 1013–20.

Riley, D R, Diller, B E and Kerr, D (2005) Effects of Delivery Systems on Change Order Size and Frequency in Mechanical Construction. Journal of Construction Engineering and Management, 131(09), 953–62.

Wibowo, A and Kochendörfer, B (2005) Financial Risk Analysis of Project Finance in Indonesian Toll Roads. Journal of Construction Engineering and Management, 131(09), 963–72.

  • Type: Journal Article
  • Keywords: Indonesia; Risk analysis; Simulation; Toll roads; Build/operate/transfer; Financing; Construction industry;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2005)131:9(963)
  • Abstract:
    If a project is implemented using a project-finance approach, the debt service payment relies solely on the project cash flows and its assets. This paper identifies, quantifies, and evaluates major financial risks associated with project-financed toll road projects in Indonesia. Ordering payments by priority level, subject to cash availability, enables risk to be evaluated from the different perspectives of multiple parties involved. The paper makes use of Latin Hypercube simulations for risk analysis because they deal with problems involving large and complex systems. To better illustrate the concept, a case study is presented. A sensitivity analysis of the impact of delay-in-adjustment risk and of the adoption of a new regulation related to the toll adjustment is performed and discussed. Simulation results show that the project sponsor fares worse as delay-in-adjustment risk increases but that the creditor can fare better, given that the risk level is low or moderate. Output statistics also reveal that the adoption of the new regulation has negative impact on the project cash flows from both the project sponsor’s and the creditor’s perspectives under different scenarios associated with delay-in-adjustment risk.

Yang, I (2005) Chance-Constrained Time–Cost Tradeoff Analysis Considering Funding Variability. Journal of Construction Engineering and Management, 131(09), 1002–12.