Risk allocation in the private provision of public infrastructure

Caracterização da gestão de fatores de risco em projetos de infraestrutura

“…This infrastructure in a country represents a set of assets, which if managed effectively, can become attractive to foreign investments, in addition to supporting the development and social, cultural, and economic stability of a nation (Ng & Loosemore, 2007). According to these authors, there are different types of infrastructure projects, divided into two categories: a) economic: bridges, drainage systems, industrial plants, telecommunications, rail transport, etc.…”

“…Among the risk factors (Wang & Tiong, 2000;Ghosh & Jintanapakanont, 2004;Shen et al, 2006;Bing et al, 2007;Ng & Loosemore, 2007;Lam et al, 2007;Ke et al, 2010;Mu et al, 2014) in infrastructure projects include: a) contractual and legal: risks related to the management of contracts; b) financial and economic: risks associated with the financial capacity of the contractor and market conditions; c) not controllable forces: risks from circumstances beyond control; d) suppliers: risks inherent to suppliers; e) natural/physical: risks related to the infrastructure; f) operational: risks associated with productivity and operations; g) political: risks from policy interventions; i) planning: risks inherent to planning variances; j) procrastination: hazards from the way as the projects are managed; k) safety and social: risks related to the safety, environmental issues and social aspects.…”

“…The risk assessment process is one of the most applied by managers (Lyons & Skitmore, 2004), but the lack of ability for the execution of this task limits their efficiency (Globerson & Zwikael, 2002;Raz et al, 2002). Thus, it should be noted that the performance impact of the projects varies with the level of presence of risk factors (Datta & Mukherjee, 2001;Ng & Loosemore, 2007) and with the risk factor type involved in the project (Ghosh & Jintanapakanont, 2004;Thamhain, 2013).…”

“…Few countries have been able to mobilize resources, in a horizon of more than 20-30 years, without reductions that compromise the integrity and quality of the projects in this sector (Frischtak, 2009). In general, and regarding the experience of developed countries and emerging economies (Fay & Morrison, 2005), it is observed that these projects result in assets that, if well managed, can contribute to sustainable gains in competitiveness (Ng & Loosemore, 2007).…”

An Empirical Study on Influencing Mechanism Between Risk Allocation and Project Management Performance

“…In the field of project management, risk allocation (RA) is widely seen as an effective path for project management performance (PMP) improvement, and a large number of researches focused on the programs, procedures and methods of RA between the owners and contractors [1][2][3][4]. The above studies attempted to propose a decision-making philosophy that the owner and the contractor should reasonably allocate the project risk in the process of project transaction, but the actual RA between the owners and contractors are often deviated from the RA strategies recommended by the theoretical study in practice [5].…”