The Public-private partnership (PPP) phenomenon is a project delivery system that is frequently used all over the world to ensure economic development and effective completion of infrastructure investments. The main purpose of the model is to realize resilient, sustainable, and effective infrastructure projects by using the financial, managerial, and technical capability of the private sector to provide public infrastructure projects. However, many PPP projects are at risk of failure for a variety of reasons. Depending on the country where the investment is made, the economic class of the country, the type of project, the sector, and many other parameters, failures or distresses may be faced in PPP projects. In this study, the dataset consisting of institutional, macroeconomic, and project characteristics indicators obtained from the World Bank was examined to identify under which conditions the risk of failure in PPP projects was higher. In this context, Pearson correlation analysis was carried out to determine the parameters affecting the PPP project failure and the importance degrees of these parameters. According to the results of the analysis, the parameters that most affect the PPP failure were determined as the year the project, the unsolicited proposal, the project type, the PPP type, and the income source type. It is expected that the findings of the current study will inform the public sector with significant information during the investment decision stage and provide critical outputs to the sponsors and/or insurance companies about the outputs of the projects by indicating under which conditions the PPP projects will result in success or failure. "Assistant Professor, Dept. of Civil Engineering, Yildiz Technical University, Istanbul, Turkey, ORCID NO: 0000-0002-6865-804X"
Anahtar Kelimeler: Construction projects, Construction industry, Public-Private Partnership (PPP), Project failure, Macroeconomic factors
|
