Adm. Sci. 2019, 9(1), 17; https://doi.org/10.3390/admsci9010017
Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview
Hadi Sarvari 1,*
, Alireza Valipour 2, Nordin Yahya 3, Norhazilan MD Noor 3, Michael Beer 4 and Nerija Banaitiene 5
, Alireza Valipour 2, Nordin Yahya 3, Norhazilan MD Noor 3, Michael Beer 4 and Nerija Banaitiene 5
1
Department of Civil Engineering, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan 81595-39998, Iran
2
Department of Civil Engineering, Shiraz Branch, Islamic Azad University, Shiraz 74731-71987, Iran
3
Department of Structure and Materials, Faculty of Civil Engineering, Universiti Teknologi Malaysia, Johor 81310, Malaysia
4
Institute for Risk and Reliability, Leibniz Universität Hannover, Callinstrasse 34, 30167 Hannover, Germany
5
Faculty of Civil Engineering, Vilnius Gediminas Technical University, Saulėtekio al. 11, LT-10223 Vilnius, Lithuania
*
Author to whom correspondence should be addressed.
Received: 20 December 2018 / Revised: 21 January 2019 / Accepted: 23 January 2019 / Published: 10 February 2019
(This article belongs to the Special Issue Rational Decision Making in Risk Management)
Abstract
The complexity of public–private partnership (PPP) projects ensures that risks could emerge and spread in unpredictable ways if they are not well identified and managed. The emergence of PPP projects has brought major changes in the construction industry, the most notable being in procurement methods influencing risk allocation to private parties. Thus, it is crucial to have an effective risk management for public and private partners to eliminate or minimise risks. Formulating an effective risk management system is a crucial challenge faced by both of parties in order to minimise or optimise risks. The aim of this study was to investigate the process of risk identification of private partners in Malaysian PPP projects. Data were collected throughout a 2-month period using a survey with a sample of nine Malaysian companies engaged in PPP projects, and the survey results were analysed using mean scores. The findings indicate that due to a lack of knowledge and experience of Malaysian private partners in the risk identification process, a comprehensive database for risk identification is highly necessary for the private sector. Another issue emerging from the findings is that it may be reasonable to use a combination of risk identification tools for PPP projects with a high level of complexity. The findings of the present study can greatly assist public and private partners to select the most appropriate tools for risk identification at the early stages of PPP projects. View Full-TextKeywords:
risk identification; risk management; PPP; private partner; Malaysia
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Sarvari, H.; Valipour, A.; Yahya, N.; Noor, N.M.; Beer, M.; Banaitiene, N. Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview. Adm. Sci. 2019, 9, 17.
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