Public‐private partnership: Elements for a project‐based management typology

The polysemic concept of public‐private partnership (PPP) covers a great diversity of institutional arrangements. In this paper, we propose a typology based on the management of public projects that constitute partnerships with private firms. Our typology is founded on two key variables: (1) the proximity of the target and (2) the capacity to generate projects. We can then identify four distinct models of PPP: situational, elementary, symbiotic, and forward‐looking. The management challenges, the risks, and the major issues particular to each type of PPP are described in order to enlighten management teams and contribute to the production of useful knowledge in the field.     

What makes public-private partnerships work? Survey research into the outcomes and the quality of cooperation in PPPs

Public–private partnerships (PPPs) are often regarded as the solution for time and budget overruns in large infrastructural projects, but not all are successful. This raises the question of what really makes PPPs work. Focusing on the role of relational aspects, this article examines the degree to which trust and managerial activities correlate to the perceived performance and cooperation process in PPP projects. A multilevel analysis of survey data from 144 respondents involved in Dutch PPP projects shows that both trust and management correlate significantly to the perceived performance of these projects. Moreover, trust is associated with a good cooperation process.     

How does risk transference to private partner impact on public-private partnerships’ success? Empirical evidence from developing economies

This work analyses how risk transference to the private partner affects the success of public-private partnerships (PPP). For this purpose, a broad sample from the World Bank database of 6,022 PPP infrastructure projects in 59 developing countries in the period 1997 to 2016 is analysed. Using multilevel logistic models our results show that PPPs' success is more likely when the private partner takes more risk and the economic and institutional environments are better. Another interesting finding is that an excessive transference of risks to the private party when certain institutional features show good records could prejudice PPPs’ performance.     

交通施工企业基础设施PPP项目风险管理研究

当前,新的融资方式即PPP模式的出现提高了民间资本在基础设施项目中的比率,在减轻政府压力的同时能够提高项目收益。论文就交通施工企业基础设施PPP项目风险管理措施进行探讨,希望能够实现公私双方共赢。     

Toward High Reliability Project Organizing in Safety‐Critical Projects

High reliability organizations claim to be special organizations that have consistently demonstrated safe performance in operating environments, which are simultaneously of high technical complexity, high consequence, and high tempo. This article argues that the literature on high reliability organizing, which emerged through studying day‐to‐day operations in the nuclear industry, air traffic control industry, and U.S. navy aircraft carriers, might hold important lessons for how the project management community can approach the management of safety‐critical projects—projects in which safety is of paramount importance. Its aim is to consider how high reliability organizing might be realized in these safety‐critical projects.     

Why do U.S. states adopt public–private partnership enabling legislation?

Public–private partnerships, or PPPs, have the potential to address a range of urban economic issues. As of late 2012, thirty-two U.S. states and Puerto Rico had enacted legislation enabling the use of PPPs. PPP enabling laws address such issues as the treatment of unsolicited PPP proposals, prior legislative approval of PPP contracts, and the mixing of public and private funds. We utilize 13 key elements of PPP enabling laws to develop an index reflecting the degree to which a state’s law is encouraging or discouraging of private infrastructure investment. We examine why states pass such laws, and why some states pass legislation that is relatively more favorable to private investment. We consider demand side, supply side, and political/institutional drivers of passage. Vehicle registration growth and greater traffic congestion both increase the likelihood of passage, as does political agreement between a state’s executive and legislative branches. Traffic congestion, growth in per-capita income, and the percent of Republicans in the state’s House of Representatives all increase a law’s favorability to private investment. There is little indication that traditional public finance variables, such as federal highway aid, affect the likelihood of passage or the favorability of a state’s PPP enabling law.     

When bigger is better: Investment volume drivers in infrastructure public-private partnership projects

This research studies the factors that favour the establishment of high-investment infrastructure public-private partnership (PPP) projects. We analyse 9121 PPPs, hosted in 107 developing countries, in the period 1997–2017. We find that PPP projects adopting contractual forms in which the private party takes more risks, awarded through competitive methods and benefitting from indirect government support programmes, are characterized by a larger investment volume. A more business-friendly economy and robust institutions configure the most conducive environment to establish larger investment PPPs. Furthermore, multilateral development banks’ support of the projects relates positively to their investment volume.     

Risk management by SPV partners in toll road public private partnerships

ABSTRACT

Research on risk management in Public Private Partnerships (PPPs) has largely overlooked that the Special Purpose Vehicle (SPV) is made up of several project partners with different interests and objectives to manage risk. This paper makes an important contribution to this literature as it articulates SPV partners’ perceptions of how they manage risk in toll road PPPs. Our case studies show that the different skillsets of both the international and domestic partners with their sub-contractors provide opportunities for mitigating and managing risk but also pose potential problems in terms of measuring and obtaining value for money for taxpayers.     

低碳经济下专用汽车发展路径——以随州专用汽车发展为例

专用汽车产业是衡量一个国家国民经济和汽车工业发展水平的重要标志,湖北随州市现已发展成为我国专用汽车主要生产基地之一,并被中国机械工业联合会命名为"中国专用汽车之都",这一产业的发展却主要以高能耗、高污染、高排放为代价。因此,对低碳经济下随州专用汽车的发展对策进行研究很有必要。     

浅论PPP模式下高速公路工程投资控制

随着大量PPP模式下高速公路工程项目进入实施阶段,不可避免地出现了项目总投资超估算或超概算的现象,对项目的建设与管理带来了负面影响。本文针对PPP模式下高速公路工程项目投资控制中存在的问题进行分析,并提出一些建议,希冀能对国内PPP模式下高速公路工程项目建设有所帮助。     

基于PPP项目的风险分担机制研究综述

公私合作模式(PPP)是应用于公共基础设施建设的一种融资模式,由于参与者多,风险分担是PPP项目取得成功的关键.目前对PPP项目风险分担机制的研究主要有两种:一是政府与私人投资者双方之间的风险分担机制.二是项目各参与方之间的风险分担机制.重点论述和评价了国内外关于PPP项目风险分担的涵义、风险分担的原则、风险分担条件、风险分担谈判过程、风险分担矩阵和风险分担的相关模型,并对风险分担的研究作了进一步展望.     

电脑式汽车故障诊断仪原理

设计一款电脑式汽车故障诊断仪,详细介绍了其系统硬件电路及工作原理。仪器由专用汽车协议转换芯片及高性能单片机组成,适用于CAN总线、K线、L线等协议的汽车诊断。     

Partnerships and the private recruitment industry

This article, based on a postal survey and qualitative interview‐based research, examines the relationship between major private recruitment bureaux and their clients in the UK, with particular attention to the recruitment and selection of temporary workers. The private recruitment industry is growing and large bureaux are seeking closer partnership arrangements with clients. Contracts for labour services are being developed on a 'preferred' supplier basis – similar in type to the approach taken for the purchase or supply of goods or components. However, formal preferred supplier contracts with temporary work bureaux were used by only a minority of clients, usually larger organisations or those having projects or workplaces with high volume demand. While such bureaux seek models of relational contracting or partnering, many clients prefer less fully engaged or 'semi‐distanced' relations facilitated by the informal dimensions of inter‐organisational contacts.     

成都市廉租房建设应用PPP融资模式的风险研究

当前成都市廉租房项目建设中存在融资难问题,探析廉租房建设中引入国外基础设施建设中常用的PPP融资模式。政府通过长期合同协议邀请私营部门参与项目融资、施工和运营。对于政府来说,投资更为经济,可以将一部分风险转移给私营部门。对于私营部门来说,通过投资和管理风险获取收益。文章采用模糊综合评价法对成都市廉租房采用PPP融资存在风险进行分析,为政府廉租房融资提供一条新的思路。     

Further Evidence on PPP Adjustment Speeds: the Case of Effective Real Exchange Rates and the EMS*

Two different approaches intend to resolve the ‘puzzling’ slow convergence to purchasing power parity (PPP) reported in the literature [see Rogoff (1996) , Journal of Economic Literature, Vol. 34.] On the one hand, there are models that consider a non‐linear adjustment of real exchange rate to PPP induced by transaction costs. Such costs imply the presence of a certain transaction band where adjustment is too costly to be undertaken. On the other hand, there are models that relax the ‘classical’ PPP assumption of constant equilibrium real exchange rates. A prominent theory put together by Balassa (1964, Journal of Political Economy, Vol. 72) and Samuelson (1964 Review of Economics and Statistics, Vol. 46) , the BS effect, suggests that a non‐constant real exchange rate equilibrium is induced by different productivity growth rates between countries. This paper reconciles those two approaches by considering an exponential smooth transition‐in‐deviation non‐linear adjustment mechanism towards non‐constant equilibrium real exchange rates within the EMS (European Monetary System) and effective rates. The equilibrium is proxied, in a theoretically appealing manner, using deterministic trends and the relative price of non‐tradables to proxy for BS effects. The empirical results provide further support for the hypothesis that real exchange rates are well described by symmetric, nonlinear processes. Furthermore, the half‐life of shocks in such models is found to be dramatically shorter than that obtained in linear models.     

PPP项目政府补偿决策研究综述

随着越来越多的PPP项目签约落地,政府补偿作为促进PPP项目可持续发展的重要策略已经成为研究热点。论文采用内容分析法对选自CNKI数据库2006年以来分析PPP项目政府补偿决策的样本文献,从模型方法、补偿方式、研究内容和研究趋势四个维度进行了研究,总结了PPP项目政府补偿决策的研究现状,从不同角度分析了研究的不足,提出了相应的建议,并对未来的研究方向进行了探讨,具有一定的理论价值。     

Old Wine in Private Equity Bottles? The Resurgence of Contract‐for‐Deed Home Sales in US Urban Neighborhoods

This article describes the reemergence, in the wake of the mortgage crisis, of a predatory financial practice in predominantly black neighborhoods in the US: the contract for deed (CFD). The CFD has a notorious urban history; it was a focus of social justice organizing in 1960s Chicago, which helped lay the groundwork for advocacy that culminated in two important laws in the US: the Home Mortgage Disclosure Act of 1975 and the Community Reinvestment Act of 1977. This article places the reemergence of the CFD in the post‐crisis cycle of housing investment and disinvestment, estimates the minimum scale of CFD ownership, and examines the geography of a well‐known CFD seller in the Atlanta area. As policymakers in the US took efforts to restrict predatory lending fueled by private‐label securitization following the subprime crisis, capital markets shifted toward private equity financiers who provided a new supply of lightly regulated capital for urban housing markets. Predominantly black neighborhoods became prey for high‐return schemes meant to extract as much cash flow out of vulnerable residents as possible, offering them the illusion of homeownership. The findings show that the CFD seller focused on black neighborhoods and suggests that its profits from this activity have been quite lucrative.     

Public–Private Partnerships and the Design Process: Consequences for Architects and City Building

Governments are increasingly using public–private partnerships (PPPs) to deliver public infrastructures and facilities. The prime motivation to embark on these partnerships is often to deliver products and services on time and on budget. It is generally assumed that by transferring project risks and responsibilities to private‐sector actors, governments can achieve better value for money. This article provides a novel perspective on the standards applied in PPP endeavors as it examines the tensions between the public management rationale behind value for money on the one hand, and conceptions of design and city building on the other. We focus on planning practice in the Canadian province of Ontario to show that governments apply different understandings of value in PPPs which, in turn, affect the way the design process is run. Architects, who are used to playing the role of master builder in a traditional public infrastructure project, are shifted into a less influential position and struggle with their new role. Furthermore, a different set of priorities applies in the new procurement process. The increasing use of PPPs can thus have significant consequences for city building.     

基于项目可持续性表现评价模型的公私合作制模式

基础设施项目的建设与可持续发展有着密切的联系。可持续性发展的原则应用于基础设施建设中要求社会、经济和环境方面的统一和平衡。研究认为在基础设施建设中应用公私合作制(PPP)模式能推动可持续发展的实践,并以可持续发展的原理为基础,建立了评价基础设施建设中应用PPP模式的有效性模型。在这个评价模型中,采用专家打分法,考虑政府和私人在PPP模式中的参与程度,对基础设施项目可持续性评价指标体系中各个指标进行打分,并对得分进行不确定性分析,以期望值表示专家意见,从而得出项目的可持续性表现得分值,以此确定PPP模式项目的效益值。     

PPP项目风险因素和承担机制研究

PPP项目成功的风险承担机制,使公共部门在PPP项目建设的前期建立更行之有效的风险承担框架.