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Chassiakos, A P and Sakellaropoulos, S P (2005) Time-Cost Optimization of Construction Projects with Generalized Activity Constraints. Journal of Construction Engineering and Management, 131(10), 1115–24.

Eldin, N N and Mayfield, J (2005) Determination of Most Economical Scrapers Fleet. Journal of Construction Engineering and Management, 131(10), 1109–14.

Kale, S and Arditi, D (2005) Diffusion of Computer Aided Design Technology in Architectural Design Practice. Journal of Construction Engineering and Management, 131(10), 1135–41.

Kumaraswamy, M M, Ling, F Y, Rahman, M M and Phng, S T (2005) Constructing Relationally Integrated Teams. Journal of Construction Engineering and Management, 131(10), 1076–86.

Kumaraswamy, M M, Rahman, M M, Ling, F Y and Phng, S T (2005) Reconstructing Cultures for Relational Contracting. Journal of Construction Engineering and Management, 131(10), 1065–75.

Mbabazi, A, Hegazy, T and Saccomanno, F (2005) Modified But-For Method for Delay Analysis. Journal of Construction Engineering and Management, 131(10), 1142–4.

Mohamed, Y and AbouRizk, S (2005) Application of the Theory of Inventive Problem Solving in Tunnel Construction. Journal of Construction Engineering and Management, 131(10), 1099–108.

Rahman, M M and Kumaraswamy, M M (2005) Relational Selection for Collaborative Working Arrangements. Journal of Construction Engineering and Management, 131(10), 1087–98.

Weinstein, M, Gambatese, J and Hecker, S (2005) Can Design Improve Construction Safety?: Assessing the Impact of a Collaborative Safety-in-Design Process. Journal of Construction Engineering and Management, 131(10), 1125–34.

Wong, P S, Cheung, S O and Ho, P K (2005) Contractor as Trust Initiator in Construction Partnering—Prisoner’s Dilemma Perspective. Journal of Construction Engineering and Management, 131(10), 1045–53.

Zhang, X (2005) Concessionaire’s Financial Capability in Developing Build-Operate-Transfer Type Infrastructure Projects. Journal of Construction Engineering and Management, 131(10), 1054–64.

  • Type: Journal Article
  • Keywords: Build/Operate/Transfer; Financial management; Infrastructure; Risk management; Project management;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2005)131:10(1054)
  • Abstract:
    The concessionaire of a build-operate-transfer (BOT) type infrastructure project undertakes many responsibilities, and consequently, assumes a broad scope of risks and potential financial consequences. In addition, appropriate financial engineering skills are required in nonrecourse or limited-recourse financing, which is usually used in BOT-type projects. Therefore, strong financial capability of the concessionaire is an important prerequisite to the successful development of a BOT-type project. A common set of 35 financial criteria has been identified through a systematic research approach, and their relative significances determined based on worldwide expert opinions solicited by a structured questionnaire survey. Statistical analyses of the responses to the survey conclude that (1) the public, private, and academic sectors consider financial criteria rather similarly in the evaluation of the concessionaire’s financial capability, and there is no significant statistical difference in the rating of the significances of the 35 financial criteria across these sectors; (2) almost all of the 35 financial criteria are important in measuring the concessionaire’s financial capability; and (3) the 35 financial criteria can be grouped to measure the concessionaire’s financial capability in four dimensions: “strong financial engineering techniques,” “advantageous finance sources and low service costs,” “sound capital structure and requirement of low-level return to investments,” and “strong risk management capability.” Outputs of this research facilitate the private sector in assessing their financial capability and making corresponding improvements to increase their financial competitiveness, and the public sector in evaluating potential concessionaires’ financial capability for BOT projects in general.