Evaluation and Ranking of Risk Factors in Transnational Public–Private Partnerships Projects: Case Study Based on the Intuitionistic Fuzzy Analytic Hierarchy Process
Publication: Journal of Infrastructure Systems
Volume 24, Issue 4
Abstract
Due to the growing trend of world economic globalization and “The Belt and Road” initiative launched by the Chinese government, transnational public–private partnership (TPPP) has become a crucial way for construction and investment companies to invest in other countries. However, investing in another country for PPP projects is not free of risks, due mainly to unfamiliarity with different environments and conditions. This paper aims at identifying and evaluating risk factors in TPPP projects. Drawing on the X hydropower project, the identified 22 critical risk factors affecting the TPPP project were assessed by industry experts who had direct involvement in the project. The intuitionistic fuzzy analytic hierarchy process (IFAHP) technique was used in the assessment of the risk factors. The results indicated that technology, natural environment, construction, administrative, and political risk were the top five risk factors. The findings of this study improve the understanding of the risk factors in TPPP projects and could be useful for risk management professionals and researchers. Future research is needed to develop risk assessment and management models for TPPP projects based on current risk factors in TPPP projects.
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Journal of Infrastructure Systems
Volume 24 • Issue 4 • December 2018
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©2018 American Society of Civil Engineers.
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Received: Nov 15, 2017
Accepted: May 10, 2018
Published online: Aug 22, 2018
Published in print: Dec 1, 2018
Discussion open until: Jan 22, 2019
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