Risk Identification and Evaluation of PPP Procurement for Infrastructure Projects in Chinese Mainland

摘要

Public-Private Partnership (PPP) projects have received increasing attention over the last decade. At the same time, the demand for establishing a systematic risk management framework for PPP projects has increased more than ever before. In order to mange the risk of PPPs effectively and efficiently in the People’s Republic of China (PRC), this paper aims to explore the Critical Risk Factors (CRFs) influencing the success of PPP procurement and evaluate the overall risk level of PPP projects in Chinese specific circumstance. The views from Chinese experts were collected via an empirical questionnaire survey and the findings showed that government risk is the most risky risk group, most of the critical risks factors are related to government or government officers and their actions including government intervention, poor public decisionmaking process, government corruption, the law and the supervision system are imperfect, public credit, project approve delay. Moreover, this survey also implies that the overall risk level of Chinese PPP projects is between “moderate” to “high” degree.