Risk Allocation in the Operational Stage of Private Finance Initiative Projects
Publication: Journal of Performance of Constructed Facilities
Volume 25, Issue 6
Abstract
A qualitative analysis based on four private finance initiative (PFI) projects during the operational monitoring stage is demonstrated in this paper. The investigation focused on how the design and contractual risks were reflected and handled at the operational stage of the PFI projects. Some unforeseen project risks that occurred during the operational stage were highlighted, and more focus on the risk control of future PFI procurement from the various parties involved is recommended. The research process includes documentation review and a semistructured interview survey. It is found that the public sector still is liable to some unforeseen risks during the operational stage, although the private sector takes most of the risks according to the contract. Recommendations are made for further research and improvements on the PFI project management.
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Acknowledgments
This research project was funded by the Independent Innovation Foundation of Shandong University, IIFSDU.
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Published In
Journal of Performance of Constructed Facilities
Volume 25 • Issue 6 • December 2011
Pages: 598 - 605
Copyright
© 2011 American Society of Civil Engineers.
History
Received: Jun 8, 2010
Accepted: Dec 21, 2010
Published online: Dec 23, 2010
Published in print: Dec 1, 2011
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