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Options-based negotiation management of PPP-BOT infrastructure projects

机译:PPP-BOT基础设施项目的基于选项的协商管理

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摘要

The success of public-private partnership (PPP)-build-operate-transfer (BOT) projects largely depends on effectively mitigating the impact of a variety of risks and uncertainties, especially those influencing the revenue over time. Revenue instability is one of the main obstacles of PPP form of procurement. Government support, which is established as a clause in the concession agreement, should be carefully designed and well formulated. Options which arise from certain clauses in the contract are more valuable for risky projects. The purpose of this paper's proposed model is to evaluate early fund generation options and also to calculate equitable bounds for a guaranteed revenue for the project sponsor under uncertainty and risk. The model is specially designed to alleviate the concern of revenue risk. To illustrate its applicability the methodology is then applied to a freeway PPP project and a power plant PPP project in Iran. The results show that the value of these options can indeed be significant and by applying the proposed systematic negotiation mechanism both public and private sectors can take advantage of its flexibility at the negotiation table. The proposed mechanisms can facilitate negotiations on the verge of a break down as well as accelerating ongoing negotiations that have become moribund.
机译:公私伙伴关系(PPP)-建设-运营-转让(BOT)项目的成功很大程度上取决于有效缓解各种风险和不确定性的影响,尤其是随着时间的推移影响收入的不确定性。收入不稳定是PPP采购形式的主要障碍之一。特许协议中作为一项条款确立的政府支持,应经过精心设计和精心设计。合同中某些条款引起的选择权对于风险项目更有价值。本文提出的模型的目的是评估早期的资金生成方案,并计算不确定性和风险下项目发起人保证收入的公平范围。该模型是专门为减轻收入风险而设计的。为了说明其适用性,该方法随后应用于伊朗的高速公路PPP项目和电厂PPP项目。结果表明,这些选择的价值确实是巨大的,通过应用提议的系统性谈判机制,公共部门和私营部门都可以利用其在谈判桌上的灵活性。拟议的机制可以促进濒临崩溃的谈判,并可以加快正在进行的谈判的步伐。

著录项

  • 来源
    《Construction Management and Economics》 |2017年第12期|676-692|共17页
  • 作者单位

    Department of Civil and Environmental Engineering, National University of Singapore (NUS), Singapore, Singapore,School of Civil and Environmental Engineering, Nanyang Technological University (NTU), Singapore, Singapore;

    Department of Civil and Environmental Engineering, National University of Singapore (NUS), Singapore, Singapore;

    Institute for Risk and Reliability, Leibniz Universitaet Hannover,Germany,lnstitute for Riskand Uncertainty,University of Liverpool,Liverpool, UK,International Joint Research Center for Engineering Reliability and Stochastic Mechanics (ERSM),Tongji University, Shanghai, China;

    Department of Civil and Environmental Engineering, National University of Singapore (NUS), Singapore, Singapore;

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  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Real options; private finance; public-private partnerships; build-operate-transfer; negotiation;

    机译:实物期权;私人融资;公私伙伴关系;建立-运营-转让;谈判;

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