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Al-Kheetan, M J, Rahman, M M and Chamberlain, D A (2018) Remediation and protection of masonry structures with crystallising moisture blocking treatment. International Journal of Building Pathology and Adaptation, 36(01), 77–92.

Ali, A S, Azmi, N F and Baaki, T K (2018) Cost performance of building refurbishment works: the case of Malaysia. International Journal of Building Pathology and Adaptation, 36(01), 41–62.

Andersen, L P, Nørdam, L, Joensson, T, Kines, P and Nielsen, K J (2018) Social identity, safety climate and self-reported accidents among construction workers. Construction Management and Economics, 36(01), 22-31.

Bourgeois, D, Reinhart, C F and Ward, G (2008) Standard daylight coefficient model for dynamic daylighting simulations. Building Research & Information, 36(01), 68–82.

Enshassi, A, Ayash, A and Mohamed, S (2018) Key barriers to the implementation of energy-management strategies in building construction projects. International Journal of Building Pathology and Adaptation, 36(01), 15–40.

Gaspar, P L and Brito, J D (2008) Service life estimation of cement-rendered facades. Building Research & Information, 36(01), 44–55.

Hietajärvi, A-M and Aaltonen, K (2018) The formation of a collaborative project identity in an infrastructure alliance project. Construction Management and Economics, 36(01), 1-21.

Hosseini, M R, Roelvink, R, Papadonikolaki, E, Edwards, D J and Pärn, E (2018) Integrating BIM into facility management. International Journal of Building Pathology and Adaptation, 36(01), 2–14.

Lindelöf, D and Morel, N (2008) Bayesian estimation of visual discomfort. Building Research & Information, 36(01), 83–96.

Ogbeifun, E, Mbohwa, C and Pretorius, J C (2018) Developing an effective renovation plan: the influence of data collection tools. International Journal of Building Pathology and Adaptation, 36(01), 63–76.

Opawole, A and Jagboro, G O (2018) Compensation mechanisms for minimizing private party risks in concession-based public-private partnership contracts. International Journal of Building Pathology and Adaptation, 36(01), 93–120.

  • Type: Journal Article
  • Keywords: Contract; Risks; Compensation; Concession;
  • ISBN/ISSN: 2398-4708
  • URL: https://doi.org/10.1108/IJBPA-09-2017-0041
  • Abstract:
    The purpose of this paper is to develop compensation mechanisms against risks factors that impact private party’s costs in concession-based projects as a basis for minimizing failure rate of concession contracts. Design/methodology/approach The study extended earlier work on the factors that impact private party’s costs in concession-based projects by developing compensation mechanisms against the risks factors. It commenced with semi-structured face-to-face interviews which were launched with different stakeholders organizations that had been involved in PPP contracts in the Southwestern Nigeria. Responses from the interview were analyzed using interpretative phenomenal analysis via ATLAS.ti6/7. The mechanisms identified from literature review were assessed through structured questionnaire which were administered on professionals selected from governmental-based organizations (ministries, agencies, corporations/parastatals, etc.), private developers/concessionaires, law firms, banks among others, using the respondent-driven sampling technique. The robustness of the quantitative data was achieved by including the initial respondents to the interview in the questionnaire survey. The quantitative data were analyzed using percentile for better understanding of the flexibility between “most” and “more” preferred mechanisms. The criterion for the selection of appropriate mechanism(s) for the factors was based on minimum average of 20.0 percent (the ratio of maximum percentage (100 percent) of the respondents to total number of variables) suggesting the five identified mechanisms. The results in both cases of qualitative and quantitative assessments were compared. Based on the convergences of the findings, preferred compensation mechanisms were developed against concession contract risk factors. Findings Options of mechanisms were developed against specific investment risks that are consequent to the defaults of the public party in PPP contracts. The findings indicate that the mechanisms in extant literature with respect to administration of traditional models are relevant for PPPs. The study, however, identified new concepts, including “compensative” “zero compensation,” “equitable sharing” and “adjustment of concession period,” which are suitable in specific cases of PPP contracts. Practical implications The study contributes to the body of knowledge on mechanisms for improving PPP project performance. Moreover, insights were provided on mechanisms that satisfy private investor in case of specific risk factors investigated. The findings are therefore expected to guide private party in the preparation of concession contract package that minimizes investments risks and thereby attracting more private investors both from local and international environments. The findings of the study would also contribute to the body of information for documenting standard conditions of concession contract in Nigeria. Originality/value Studies on critical performance factors on PPP were extended by developing compensation mechanisms against the investment risks that impact private party’s cost.

Pan, W, Gibb, A G F and Dainty, A R J (2008) Leading UK housebuilders' utilization of offsite construction methods. Building Research & Information, 36(01), 56–67.

Peltokorpi, A, Olivieri, H, Granja, A D and Seppänen, O (2018) Categorizing modularization strategies to achieve various objectives of building investments. Construction Management and Economics, 36(01), 32-48.

Pivo, G (2008) Responsible property investment criteria developed using the Delphi Method. Building Research & Information, 36(01), 20–36.

Sha, K, Yang, J and b, R S (2008) Competitiveness assessment system for China's construction industry. Building Research & Information, 36(01), 97–109.

Sundquist, V, Gadde, L-E and Hulthén, K (2018) Reorganizing construction logistics for improved performance. Construction Management and Economics, 36(01), 49-65.

Tam, V W Y and Tam, C M (2008) Waste reduction through incentives: a case study. Building Research & Information, 36(01), 37–43.

Yang, W and Kohler, N (2008) Simulation of the evolution of the Chinese building and infrastructure stock. Building Research & Information, 36(01), 1–19.