Evaluating key risk factors for PPP water projects in Ghana: a Delphi study

Purpose - This paper aims to report on the partial findings of a research project on risk allocation in public-private partnership (PPP) water projects. It identifies risk factors encountered in PPP water infrastructure projects, evaluates their associated risk levels and presents an authoritative risk factor list to assist the sector institutions to understand the important risks associated with such projects in Ghana. Design/methodology/approach - A ranking-type Delphi survey was conducted to develop a rank-order list of critical risk factors. Findings - Twenty critical risk factors with high impact on water PPPs were established. The top-five risks relate to foreign exchange rate, corruption, water theft, non-payment of bills and political interference. Originality/value - Being the pioneering study, it holds implications for practitioners. By prioritising the risks according to their relative impacts on the success of water PPP projects, public and private participants will become more aware of and leverage efforts and scarce resources to address those significant factors with serious consequences on projects objectives. The paper adopts a research approach that can be used by future researchers in similar environments where PPP is novel and experts are hard to find.