Risk Allocation in Unsolicited and Solicited Road Public-Private Partnerships: Sustainability and Management Implications

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dc.contributor.authorCastelblanco, Gabriel
dc.contributor.authorGuevara, Jose
dc.contributor.authorMesa, Harrison
dc.contributor.authorFlores, Diego
dc.date.accessioned2025-01-23T19:51:52Z
dc.date.available2025-01-23T19:51:52Z
dc.date.issued2020
dc.description.abstractRisk allocation plays a crucial role in the successful development of public-private partnership (PPP) projects. However, despite being an important topic for scholars and practitioners, the existing literature does not provide sufficient evidence on how managing risks in solicited (SP) and unsolicited (USP) road PPP projects, and subsequently, on what the sustainability implications are for such managerial processes. This study aims to extend risk allocation studies by analyzing contracts in Chilean highway PPPs over the last decade based on a systematic content analysis framework and case study data. The framework was developed through line-by-line coding of contract provisions associated with risk-related issues, and data were collected from semi-structured interviews with Chilean PPP practitioners. Results show that, although the majority of risks are either shared or transferred to the private party in most contracts, there are important variations in the way allocation procedures are implemented for SPs and USPs. Contracts analyzed revealed that risk arrangement mechanisms have usually focused on the economic dimension of sustainability without fully incorporating social and environmental considerations, increasing protests in the long-term. Conclusions indicate that risk allocation procedures and sustainability considerations are highly dependent on project-specific features and contextual factors. Overall, the analysis uncovers that the level of autonomy given to the private sector in both SPs and USPs has contributed to properly manage technical and economic risks, but has failed to successfully allocate social and environmental concerns.
dc.description.funderUniversidad de los Andes under Fondo de Apoyo para Profesores FAPA
dc.fuente.origenWOS
dc.identifier.doi10.3390/su12114478
dc.identifier.eissn2071-1050
dc.identifier.urihttps://doi.org/10.3390/su12114478
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/100604
dc.identifier.wosidWOS:000543391800141
dc.issue.numero11
dc.language.isoen
dc.revistaSustainability
dc.rightsacceso restringido
dc.subjectrisk allocation
dc.subjectpublic-private partnerships
dc.subjectPPP
dc.subjectunsolicited proposals
dc.subjectsolicited proposals
dc.subjectsustainability
dc.subject.ods17 Partnerships for the Goals
dc.subject.ods09 Industry, Innovation and Infrastructure
dc.subject.odspa17 Alianzas para lograr los objetivos
dc.subject.odspa09 Industria, innovación e infraestructura
dc.titleRisk Allocation in Unsolicited and Solicited Road Public-Private Partnerships: Sustainability and Management Implications
dc.typeartículo
dc.volumen12
sipa.indexWOS
sipa.trazabilidadWOS;2025-01-12
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