Journal
JOURNAL OF INFRASTRUCTURE SYSTEMS
Volume 21, Issue 2, Pages -Publisher
ASCE-AMER SOC CIVIL ENGINEERS
DOI: 10.1061/(ASCE)IS.1943-555X.0000228
Keywords
Economic factors; Partnerships; Infrastructure; Private sector; Ex-ante evaluation; Public-private partnerships; Key performance indicators; Macroeconomic environment
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Public-private partnerships (PPPs) are currently a popular approach for governments to procure social and economic infrastructure. The macroeconomic environment plays a critical role and influences the factors that can lead to the successful delivery of a PPP project. Despite the importance of the macroeconomic environment, limited attention has been paid to ex-ante (that is, before the event, or forecast) evaluation. A review of the normative literature was undertaken, aiming to derive key performance indicators (KPIs) of PPP success. The KPIs were validated by using a vector error correction model. It is suggested that the developed KPIs can be used to evaluate the suitability of the macroeconomic conditions in which a PPP project will be implemented. These KPIs can provide governments and stakeholders with a platform to conduct an effective ex-ante evaluation of PPP projects that will be significant in policy and decision making. (C) 2014 American Society of Civil Engineers.
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