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Antillon, E I, Molenaar, K R and Javernick-Will, A (2017) Evaluating the Effect of Contract Timing on Lifecycle-Design Innovation in Public–Private Partnerships: Comparative Case Study of Highway Projects. Journal of Construction Engineering and Management, 143(04).

Cavalcante, C A V, Alencar, M H and Lopes, R S (2017) Multicriteria Model to Support Maintenance Planning in Residential Complexes under Warranty. Journal of Construction Engineering and Management, 143(04).

Chih, Y, Kiazad, K, Li, M, Capezio, A, Zhou, L and Restubog, S L D (2017) Broken Promises: Implications for the Job Insecurity and Job Performance of Chinese Construction Workers. Journal of Construction Engineering and Management, 143(04).

Delgado-Hernandez, D J, Cruz-Cruz, C C and Vences-García, P Y (2017) Improvement Management Tools in the Construction Industry: Case Study of Mexico. Journal of Construction Engineering and Management, 143(04).

Fang, Y and Cho, Y K (2017) Effectiveness Analysis from a Cognitive Perspective for a Real-Time Safety Assistance System for Mobile Crane Lifting Operations. Journal of Construction Engineering and Management, 143(04).

Gao, R, Chan, A P C, Utama, W P and Zahoor, H (2017) Workers’ Perceptions of Safety Climate in International Construction Projects: Effects of Nationality, Religious Belief, and Employment Mode. Journal of Construction Engineering and Management, 143(04).

Gunduz, M, Birgonul, M T and Ozdemir, M (2017) Fuzzy Structural Equation Model to Assess Construction Site Safety Performance. Journal of Construction Engineering and Management, 143(04).

Khan, A, Do, J and Kim, D (2017) Experimental Optimization of High-Strength Self-Compacting Concrete Based on D-Optimal Design. Journal of Construction Engineering and Management, 143(04).

Liu, R, Du, J, Issa, R R A and Giel, B (2017) BIM Cloud Score: Building Information Model and Modeling Performance Benchmarking. Journal of Construction Engineering and Management, 143(04).

McCabe, B Y, Alderman, E, Chen, Y, Hyatt, D E and Shahi, A (2017) Safety Performance in the Construction Industry: Quasi-Longitudinal Study. Journal of Construction Engineering and Management, 143(04).

Ozorhon, B and Oral, K (2017) Drivers of Innovation in Construction Projects. Journal of Construction Engineering and Management, 143(04).

Praticò, F G (2017) Metrics for Management of Asphalt Plant Sustainability. Journal of Construction Engineering and Management, 143(04).

Wang, D, Arditi, D and Damci, A (2017) Construction Project Managers’ Motivators and Human Values. Journal of Construction Engineering and Management, 143(04).

Xu, J, Jiang, L and Moon, S (2017) Determination of the Optimal Concession Period for BOT Contract Projects Based on a Discrete Stochastic Process Model. Journal of Construction Engineering and Management, 143(04).

  • Type: Journal Article
  • Keywords: Build-operate-transfer project; Concession period; Discrete stochastic process; Utility function; Contracting;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001231
  • Abstract:
    The concession period is one of the most important issues in the contractual arrangement of build-operate-transfer (BOT) projects. When planning a BOT project, the government should aim for a trade-off between the concerned government’s satisfaction and the private concessionaire’s profit. The objective of this paper is to present a discrete stochastic process model to obtain an optimal concession period considering the trade-off. The process model is developed for a highway project by analyzing the actual traffic data. The net present value (NPV) is calculated for use as a constraint condition that indicates the boundary of risk preference in a utility function. Using a utility function, this paper estimates the duration of concession periods at which the government can both attract investments from private concessionaires and satisfy public opinion. A numerical simulation is applied to demonstrate the applicability of the methodology presented. The result of the simulation shows that the discrete stochastic process model contributes to a better understanding of trade-offs in determining the optimal concession period.

Yu, T, Shen, G Q and Shi, Q (2017) Comparing the Performance Quality of Design-Bid-Build and Design-Build Delivery Methods. Journal of Construction Engineering and Management, 143(04).