Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review
Public–private partnerships (PPPs) are widely applied in the procurement of capital infrastructure, encompassing phases such as financing, design, construction, operation, and transfer. Of these, the operational phase of PPPs is particularly critical to project success given this is when revenues ar...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-11-01
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| Series: | Buildings |
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| Online Access: | https://www.mdpi.com/2075-5309/12/11/1905 |
| _version_ | 1797468856041603072 |
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| author | Weiling Jiang Qianying Yang Jie Jiang Igor Martek Fanjie Gao |
| author_facet | Weiling Jiang Qianying Yang Jie Jiang Igor Martek Fanjie Gao |
| author_sort | Weiling Jiang |
| collection | DOAJ |
| description | Public–private partnerships (PPPs) are widely applied in the procurement of capital infrastructure, encompassing phases such as financing, design, construction, operation, and transfer. Of these, the operational phase of PPPs is particularly critical to project success given this is when revenues are generated, and costs recouped. However, the revenue stream will be exposed to numerous risks over the relatively long period of infrastructure operation. Management of PPP operational risk is therefore critical. Despite this importance, research dedicated to PPP operational risk management remains limited. Thus, this paper addresses this deficiency by systematically reviewing related studies and proposing an operational risk management framework. A qualitative bibliometric literature review is conducted on 60 papers pertinent to operational risk management, published across 12 peer review journals. Findings reveal that the industry lacks a systematic operational risk factor list, while the impacts of risks are rarely considered when allocating operational risk factors, and moreover that the research on the selection and efficacy of operational risk management strategies remains undeveloped. This study reveals where further efforts in the research of operational risk management of PPP infrastructure projects could be more fruitfully applied. |
| first_indexed | 2024-03-09T19:13:17Z |
| format | Article |
| id | doaj.art-63f9e29259d84613b27787c61af64e3f |
| institution | Directory Open Access Journal |
| issn | 2075-5309 |
| language | English |
| last_indexed | 2024-03-09T19:13:17Z |
| publishDate | 2022-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Buildings |
| spelling | doaj.art-63f9e29259d84613b27787c61af64e3f2023-11-24T03:59:32ZengMDPI AGBuildings2075-53092022-11-011211190510.3390/buildings12111905Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature ReviewWeiling Jiang0Qianying Yang1Jie Jiang2Igor Martek3Fanjie Gao4School of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaSchool of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaSchool of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaSchool of Architecture and Built Environment, Waterfront Campus, Deakin University, Geelong 3220, AustraliaSchool of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaPublic–private partnerships (PPPs) are widely applied in the procurement of capital infrastructure, encompassing phases such as financing, design, construction, operation, and transfer. Of these, the operational phase of PPPs is particularly critical to project success given this is when revenues are generated, and costs recouped. However, the revenue stream will be exposed to numerous risks over the relatively long period of infrastructure operation. Management of PPP operational risk is therefore critical. Despite this importance, research dedicated to PPP operational risk management remains limited. Thus, this paper addresses this deficiency by systematically reviewing related studies and proposing an operational risk management framework. A qualitative bibliometric literature review is conducted on 60 papers pertinent to operational risk management, published across 12 peer review journals. Findings reveal that the industry lacks a systematic operational risk factor list, while the impacts of risks are rarely considered when allocating operational risk factors, and moreover that the research on the selection and efficacy of operational risk management strategies remains undeveloped. This study reveals where further efforts in the research of operational risk management of PPP infrastructure projects could be more fruitfully applied.https://www.mdpi.com/2075-5309/12/11/1905operational risk managementinfrastructurePPPprincipal-agent theoryliterature review |
| spellingShingle | Weiling Jiang Qianying Yang Jie Jiang Igor Martek Fanjie Gao Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review Buildings operational risk management infrastructure PPP principal-agent theory literature review |
| title | Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review |
| title_full | Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review |
| title_fullStr | Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review |
| title_full_unstemmed | Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review |
| title_short | Operational Risk Management of Public–Private Partnership Infrastructure Projects: A Bibliometric Literature Review |
| title_sort | operational risk management of public private partnership infrastructure projects a bibliometric literature review |
| topic | operational risk management infrastructure PPP principal-agent theory literature review |
| url | https://www.mdpi.com/2075-5309/12/11/1905 |
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