A review of public-private partnership: critical factors of concession period

Abstract

Purpose

The purpose of this paper is to investigate the critical decision factors of public–private partnership (PPP) concession which is complex due to a number of uncertain and random variables. To identify critical factors contributing to determination of concession period, this study reviews the published literature. It also identifies countries contributing most in PPP research. As a whole, it provides a mutually beneficial scenario by formulating a decision-making matrix.

Design/methodology/approach

This paper reviews the literature published during the period 2005-2015. A two-staged methodology is followed on retrieved scholarly papers: first, countries contributing to PPP are identified along with authors and affiliated institutions. Second, using frequency analysis of shortlisted critical factors, yearly appearance and stakeholders affected, a decision matrix is formulated.

Findings

The most contributing country toward PPP research is China, followed by the USA both in terms of country- and author-based contribution. In total, 63 factors are identified that affect PPP concession out of which, 8 per cent are highly critical and 21 per cent are marginally critical for decision-making.

Practical implications

Critical factors of PPP concession period will be identified with the help of decision-making matrix. This will help in adequate resource allocation for handling critical factors ensuring project success. Researchers may also understand the research trends in the past decade to usher ways for future improvements.

Originality/value

This paper reports findings of an original and innovative study, which identifies critical success factors of PPP concession period and synthesizes them into a decision-making matrix. Many of the previous studies have identified and ranked the critical factors but such a synthesis has not been reported.

Citation

Ullah, F., Ayub, B., Siddiqui, S.Q. and Thaheem, M.J. (2016), "A review of public-private partnership: critical factors of concession period", Journal of Financial Management of Property and Construction, Vol. 21 No. 3, pp. 269-300. https://doi.org/10.1108/JFMPC-02-2016-0011