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Borgeson, S and Brager, G (2011) Comfort standards and variations in exceedance for mixed-mode buildings. Building Research & Information, 39(02), 33.

C├óndido, C, Lamberts, R, de Dear, R, Bittencourt, L and de Vecchi, R (2011) Towards a Brazilian standard for naturally ventilated buildings: guidelines for thermal and air movement acceptability. Building Research & Information, 39(02), 145–53.

de Dear, R (2011) Revisiting an old hypothesis of human thermal perception: alliesthesia. Building Research & Information, 39(02), 108–17.

Guo, K, Zhang, L and Wang, T (2021) Concession period optimisation in complex projects under uncertainty: a public–private partnership perspective. Construction Management and Economics, 39(02), 156–72.

  • Type: Journal Article
  • Keywords: PPP; concession period; optimal design; complex systems; real option analysis; global sensitivity analysis;
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446193.2020.1849752
  • Abstract:
    Concession period is decisive in public–private partnership (PPP) projects, particularly for complex projects. A systematic approach incorporating real option analysis (ROA) is proposed to optimise the concession under uncertainty. Options are explored to manage uncertainty in the long concession of PPP projects and an optimisation principle is proposed for the concession optimisation. Sensitivity analysis and case comparison are suggested to test the validity of the optimised concession. Applicability of the approach is tested with a PPP utility tunnel case, in which options to expand and recoup are investigated. Important findings include: (1) interests of participants are balanced through the optimisation, the investment value of the project is increased; (2) profit-sharing mechanism is identified as the most important factor, and a prudent design of it can effectively manage uncertainty; (3) option to recoup can optimise the concession period without harming private developer's interest. This research's novelty lies in (a) exploring the management flexibility and identifying potential options in the concession period of PPP projects; (b) a hybrid approach with the integration of ROA and Sobal-based global sensitivity analysis is proposed to perform the concession optimisation; (c) the profit-risk allocation between participants in PPP projects is balanced under the optimisation principle.

Le, P L, Jarroudi, I, Dao, T and Chaabane, A (2021) Integrated construction supply chain: an optimal decision-making model with third-party logistics partnership. Construction Management and Economics, 39(02), 133–55.

Moezzi, M and Goins, J (2011) Text mining for occupant perspectives on the physical workplace. Building Research & Information, 39(02), 169–82.

Scharpff, J, Schraven, D, Volker, L, Spaan, M T J and de Weerdt, M M (2021) Can multiple contractors self-regulate their joint service delivery? A serious gaming experiment on road maintenance planning. Construction Management and Economics, 39(02), 99–116.

Strengers, Y and Maller, C (2011) Integrating health, housing and energy policies: social practices of cooling. Building Research & Information, 39(02), 154–68.

Wang, R, Lu, W and Wei, Y (2021) Owners’ use of contract-based power in construction project transactions: restrictions from process specificity and uncertainty. Construction Management and Economics, 39(02), 117–32.

Zhang, H, Arens, E and Pasut, W (2011) Air temperature thresholds for indoor comfort and perceived air quality. Building Research & Information, 39(02), 134–44.

Zhang, J and Yuan, X (2021) Stochastic modelling of maintenance flexibility in Value for Money assessment of PPP road projects. Construction Management and Economics, 39(02), 173–91.