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Ünsal Altuncan, & and Tanyer, A M (2018) Context-Dependent Construction Conflict Management Performance Analysis Based on Competency Theory. Journal of Construction Engineering and Management, 144(12).

Alomari, K A, Gambatese, J A and Tymvios, N (2018) Risk Perception Comparison among Construction Safety Professionals: Delphi Perspective. Journal of Construction Engineering and Management, 144(12).

Chen, H, Hu, H, Tang, M, Yang, X and Zhu, J (2018) Hybrid Bored Prestressed Concrete Cased Piles: Equipment and Construction Procedures. Journal of Construction Engineering and Management, 144(12).

Leandro, R, O’Connor, J T and Khwaja, N (2018) Development and Application of a Production-Rate Resource for Contract Time Determination. Journal of Construction Engineering and Management, 144(12).

Lee, J I, Lee, H and Park, M (2018) Contractor Liquidity Evaluation Model for Successful Public Housing Projects. Journal of Construction Engineering and Management, 144(12).

Mazher, K M, Chan, A P C, Zahoor, H, Khan, M I and Ameyaw, E E (2018) Fuzzy Integral–Based Risk-Assessment Approach for Public–Private Partnership Infrastructure Projects. Journal of Construction Engineering and Management, 144(12).

Moon, S, Yang, B and Choi, E (2018) Safety Guideline for Safe Concrete Placement Utilizing the Information on the Structural Behavior of Formwork. Journal of Construction Engineering and Management, 144(12).

Nguyen, A, Mollik, A and Chih, Y (2018) Managing Critical Risks Affecting the Financial Viability of Public–Private Partnership Projects: Case Study of Toll Road Projects in Vietnam. Journal of Construction Engineering and Management, 144(12).

  • Type: Journal Article
  • Keywords: Public–private partnerships; Critical risks; Financial viability; Infrastructure projects; Toll road projects; Developing countries; Vietnam;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001571
  • Abstract:
    Public–private partnerships (PPP) have been widely applied in infrastructure projects in developing countries. However, many projects have been abandoned or canceled owing to an insufficient understanding of risk factors, lack of awareness of the financial consequences of risk, and a limited understanding of risk bearers’ capacity to handle risks. Using a mixed research method, this study identified critical risks in PPP toll road projects in Vietnam that affect the projects’ financial viability, determined the PPP partners capable of managing these risks, and explored the causes to these risks and their management strategies. Empirical data collected from quantitative and qualitative studies revealed 22 risks critically affecting toll road projects’ financial viability in Vietnam, either by inflating projects’ cash outflows or reducing projects’ cash inflows in a commonly used net present value (NPV) analysis model. This confirms the important role of government support and guarantees in the mitigation of the risks in developing countries and indicates that governments need to actively get involved in managing these risks and planning for the associated government support. This study provides a comprehensive understanding of risk management in PPP toll road projects in Vietnam, which will not only benefit public management, policy consultants, and investors, but also academics interested in studying PPP projects in developing countries.

Rafiei, M H and Adeli, H (2018) Novel Machine-Learning Model for Estimating Construction Costs Considering Economic Variables and Indexes. Journal of Construction Engineering and Management, 144(12).

Sepasgozar, S M E, Forsythe, P and Shirowzhan, S (2018) Evaluation of Terrestrial and Mobile Scanner Technologies for Part-Built Information Modeling. Journal of Construction Engineering and Management, 144(12).