Search Results (3)

The incentive mechanism functions as a core safeguard to ensure the efficient execution of consortium-based Public–Private Partnership (PPP) projects and the realization of value-added outcomes. The heterogeneity of consortium members, their reciprocal preferences, and the collaborative dynamics of the team collectively contribute to the formation of project alliances characterized by resource synergy, complementary advantages, and risk sharing. However, these same factors also contribute to the multi-layered structure of principal–agent relationships and the inherent complexity of incentive pathways and mechanisms in consortium-based PPP settings. Drawing upon the team collaboration effect and reciprocal preferences among consortium members, this study incorporated the member heterogeneity and developed three incentive models for such projects, such as the Dual-Performance (DP) mode, the Total-Performance (TP) mode, and the Individual-Performance (IP) mode. This study examined the conditions under which these incentive modes were established, the relationship between incentive intensity and optimal effort levels of consortium members, and the influence of reciprocal preferences on incentive effectiveness. Further, the selection criteria and appropriate application scenarios for each of the three incentive models were analyzed according to a comparative analysis, thereby putting forward effective suggestions for improving the effort levels of private investors in consortium-based PPP projects. The study results indicate that team synergy effects play an imperative role in improving the optimal effort levels under all three modes, whereas reciprocity preferences exhibit a negative relationship with effort in the DP and TP modes. When reciprocity remains within a moderate range, the DP mode achieves highest aggregate effort levels, whereas the IP mode induces positive incentive effects only under extreme reciprocity conditions. Thus, the application of dual incentive coefficients can enhance operational adaptability and allocative efficiency and governments should establish a multidimensional collaborative incentive for consortium-based PPP projects to strengthen effectiveness and project quality. This comprehensive evaluation provides crucial insights for policymakers, emphasizing the strategic selection of incentive mechanisms to enhance the sustainability and effectiveness of consortium-based PPP Projects. Full article

The public–private partnership (PPP) based model for the execution of infrastructure projects originated from Anglo-Saxon countries and was initially used in 1977 by the United Kingdom (U.K). Since then, its popularity has increased worldwide. Earlier studies by researchers and many other professional sectors and departments have introduced PPP contracts into different execution modes like Build, Operate, and Transfer (BOT); Build, Own, Operate, and Transfer (BOOT); and Build, Lease, and Transfer (BLT), etc. All definitions of PPP contracts are different but have a few common characteristics and risks. Previously, numerous pieces of literature were available on these common risks for various execution modes of PPP contracts. However, each PPP mode still has unique risks that must be identified to understand and successfully implement the PPP projects properly. This paper fills the gap mentioned above and aims to identify various commonly used PPP execution modes in infrastructure projects and their corresponding risks after placing the different PPP execution modes into four (04) different categories. Identified risks for the corresponding PPP categories were also divided into seven (07) stages of the PPP life cycle. Semi-structured interviews were conducted to gather information from thirty-four (34) PPP experts worldwide. Accordingly, interviews are transcribed and processed for thematic analysis in academic NVIVO software. These identified risks are further placed in the respective PPP category for the convenience and better understanding of the study’s outcome to the users and for the subsequent prioritization and allocation of these identified risks accordingly to the PPP parties during the finalization of the PPP execution mode. Full article

Solid Waste Management (SWM) is a technical subject which requires comprehensive planning, execution, and effective operational monitoring under cost-effective modes compatible with environmentally sound technologies. The policymakers made some enormous efforts for the sustainability of this sector as well as setting a benchmark for other municipalities and Waste Management Companies (WMCs) in the country. Provincial Government prioritizes its focus on SWM, i.e., waste collection, transportation, treatment, and final disposal. The waste management sector in Lahore has achieved sustainability in waste collection and haulage components by gaining experience from international outsourcing and, now, sharing its knowledge with other municipalities to strengthen the sector in the country. Lahore has emerged with the highest collection efficiency (84%) in SAARC countries and placed fifth in rank in comparison to 54 low–middle-income countries/cities worldwide. The sectorial interventions in Lahore reveal an aspiration for the sustainability of the SWM sector in Pakistan. However, there is an urgent need to focus and invest in waste-related infrastructure development, i.e., permanent/mobile transfer stations, semi-underground containers for commercial and planned areas, material recovery facilities (MRF), and landfill. Environmental and economic sustainability in this sector can be achieved through public–private partnership (PPP) modality in compost, anaerobic digestion, recycling, and refuse-derived fuel (RDF) as it is a more feasible option to strengthen the industry in the country. Full article