A decision method of concession period for traffic projects in a build-operate-transfer scheme

Critical review on PPP Research – A search from the Chinese and International Journals

“…There are also PPP researchers using literature review as the sole research method to construct a research framework. For example, Wang et al (2009) used literature review method to develop concession period decision model in BOT projects; Du and Yin (2011) identified the methods and principles of risk allocation between PPP participants on the basis of extensive literature review; and S.B. Zhang et al (2014) conducted the critical review on governance issue in PPP project and proposed future research directions under the topic.…”

“…Since it is difficult to determine concession period with large amount of parameters being considered and to accurately forecast the parameter fluctuation with dynamic nature because of long-term operation, flexible concession period decision method has been adopted increasingly as an alternative instead of fixed decision method. In this regard, Wang et al (2009) conducted a comparative study on the two decision methods and proposed research directions in these fields; Song et al (2013) compared the characteristic and application conditions of three sub-category of flexible concession period decision methods, i.e. single-parameter revenue decision model, multi-parameter revenue decision model, and renegotiation model.…”

“…However, there is no such systematic analysis on the PPP research progress in the context of China. The existing Chinese literature review articles only focused on a specific PPP research field with qualitative methods, such as concession period decision method (Wang et al, 2009), real option evaluation method (Liu et al, 2010), risk allocation (Du and Yin, 2011), project governance (S.B. Zhang et al, 2014), trust (Du and Wang, 2012), etc.…”