Cross-country comparisons of key drivers, critical success factors and risk allocation for public-private partnership projects

Public-private partnerships (PPPs) are an effective and established strategy for procuring infrastructure. Although numerous countries have implemented PPPs for infrastructure development in recent years, not all projects have been successful. Most PPP failures result from inappropriate risk allocation and a lack of information on success factors in specific countries. For this study, we compared the categories of key drivers, critical success factors (CSFs), and preferred risk allocation in PPPs established in Taiwan, Singapore, China, the United Kingdom, and Indonesia. Mean value analysis, confirmatory factor analysis, and dimensional importance were used to analyze and compare these categories. Data on PPPs in Taiwan, Singapore, China, and the United Kingdom were obtained through comprehensive literature reviews. Data for Indonesia were obtained through structured surveys distributed to PPP practitioners and academicians. Considering Indonesia as the baseline, the results revealed that Indonesia and Taiwan exhibit several similar indicators of key drivers. Furthermore, comparisons with several countries revealed that Indonesian CSFs are most similar to those of China. Regarding risk allocation preference, the analytical results indicated that Singapore exhibits the most similarity with Indonesia. This study provides useful information for people seeking to invest in PPP projects, enabling them to enhance their understanding of key drivers, CSFs, and risk allocation in the researched countries. Based on our findings, international investors can apply investment strategies by considering the similarities and differences in each country. (C) 2014 Elsevier Ltd. APM and IPMA. All rights reserved.