| Summary: | Concession of transport assets has been widely adopted in transport infrastructure projects to improve efficiency. In developing countries, e.g., Brazil, many concessions have been conducted with the goal of contributing to improve the country’s competitiveness. The concession of transport infrastructure assets is complex and involves many stages, from planning to the end of the contract. In the planning stage, the project’s potential risks can be identified, and strategies to mitigate them can be defined. Many studies have been published recently discussing risks in transport concessions, however, the practices of regulatory agencies in risk identification and mitigation are incipient. In this scenario, this study debates the inclusion of potential project risks in real concession projects in a developing country. The first step to achieving our goal is identifying the main risks in Public-Private Partnership (PPP) published studies through a literature review. As a main result of this phase, 78 risks are presented and classified as measurable and unmeasurable. In a second step, we have selected recent Brazilian transport concession appraisal studies: an airport, a road, and a port terminal. Comparing the risks from the literature review with the Brazilian regulator’s appraisal studies, we have observed no pattern for items to be discussed in the studies and that the results are mainly presented as discrete variables in all cases. The results can give insights into improving the planning process for future concessions.
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