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A Structural Equation Model of Feasibility Evaluation and Project Success for Public–Private Partnerships in Hong Kong

机译:香港公私合营企业可行性评估和项目成功的结构方程模型

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摘要

A successful public–private partnership (PPP) scheme can be described as one that can lead to the delivery of high-quality end products and/or services, which can satisfy the needs of the community, achieve the intended targets/goals of the government, as well as provide a favorable financial return for the private sector involved with the project. This study aims to establish an evaluation framework for the initial feasibility evaluation of a PPP project that would satisfy all the stakeholders. The factors for evaluating the feasibility of PPP projects can be classified into five broad categories: technical; financial and economic; social; political and legal; and others. Through the structural equation modeling approach, data attained from a questionnaire survey conducted in Hong Kong was analyzed and a model was developed to examine the relationships between different evaluation factors and the overall satisfaction of stakeholders. The results indicate that technical and social aspects are critical to the feasibility of PPP projects, and therefore, are the determining factors for success. This paper should assist relevant stakeholders to improve their understanding on the relative importance of the evaluation factors, and help to establish a comprehensive framework for decision makers to evaluate the feasibility of PPP projects. The predictors for PPP project success were also determined to enrich the knowledge base and help formulate management strategies to better implement the PPP project delivery approach.
机译:成功的公私伙伴关系(PPP)计划可以描述为一种可以带来高质量的最终产品和/或服务的方案,可以满足社区的需求,实现政府预期的目标/目标,并为参与该项目的私营部门提供可观的财务回报。这项研究旨在建立一个评估框架,用于对PPP项目进行初步可行性评估,该评估框架将使所有利益相关者满意。评估PPP项目可行性的因素可分为五大类:技术类;技术类;技术类。财务和经济;社会政治和法律;和别的。通过结构方程建模方法,分析了在香港进行的问卷调查所获得的数据,并开发了一个模型来检验不同评估因素与利益相关者整体满意度之间的关系。结果表明,技术和社会方面对于PPP项目的可行性至关重要,因此是成功的决定因素。本文应协助相关利益攸关方加深对评估因素相对重要性的理解,并有助于为决策者建立一个综合框架,以评估PPP项目的可行性。还确定了PPP项目成功的预测因素,以丰富知识基础并帮助制定管理策略,以更好地实施PPP项目交付方法。

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