Risks in Public-Private Partnerships: A Systematic Literature Review of Risk Factors, Their Impact and Risk Mitigation Strategies

Public-private partnerships (PPPs) are a popular way to form synergies between public and private partners in order to overcome modern challenges and develop new opportunities. However, recent research suggests that PPPs entail more risks than other projects. In this systematic literature review, we analyze 159 articles published in international journals and identify eight major risk factors in PPPs. We integrate our results into a risk management framework and examine how the risk factors potentially impact PPPs before summarizing risk mitigation strategies. Our findings offer a cross-sectoral perspective and bridge the gap between research and practical implementation. By developing a novel conceptual model we advance the understanding of risks in PPPs and contribute to the theoretical foundations.