Equitable Financial Evaluation Method for Public-Private Partnership Projects |
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Authors: | KE Yongjian LIU Xinping WANG Shouqing |
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Institution: | [1]Department of Construction Management, Tsinghua University, Beijing 100084, China; [2]China Development Bank Zhejiang Branch, Hangzhou 310009, China |
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Abstract: | The feasibility study of a public-private partnership (PPP) project is regarded as one of the critical factors for successful implementation,but unfortunately the common financial evaluation methods currently used only represent the benefits of the private sector.There is,therefore,an urgent need to develop an equitable financial evaluation method for PPP projects.This paper presents a comprehensive literature review that examines international practices.An equitable financial evaluation method was then developed taking into account the inherent characteristics of PPP projects using six separate indicators and Monte Carlo simulations.The result for a bridge project in Romania shows that the method combines the viewpoints of all the relevant stakeholders to achieve an equitable financial evaluation of PPP projects. |
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Keywords: | financial evaluation risk analysis public-private partnership (PPP) |
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