Risk Assessment of Public-Private Partnership Projects Using SMART Financing

Abstract

Risk assessment is one of the main tools used in the implementation of public-private partnership (PPP) projects in any economic sector. Risk analysis is necessary for the formation of a resource-efficient system of distribution and risk management, i.e. a SMART system.Aim. The presented study aims to develop and test a risk assessment methodology for PPP projects based on the concept of SMART financing.Tasks. The authors formulate a criteria framework for the formation of PPP projects using the concept of SMART financing, develop a risk assessment methodology, and conduct applied research based on one of economic sectors.Methods. This study is based on the systematization of publications of Russian and foreign economists on the problem of forming public-private partnership projects using risk management tools, statisti cal and economic-mathematical methods for analyzing the economic indicators of the selected sector and the living standards in the regions of the Central Federal District (CFD), and a comprehensive approach to assessing the risks of PPP projects using SMART financing.Results. A criteria framework for the formation of PPP projects using the concept of SMART financing and a methodology for assessing the risks of PPP projects in the housing and utilities sector using the concept of SMART financing are developed.Conclusions. The practical significance of the study consists in the development of a methodology for assessing the risks of PPP projects using the concept of SMART financing, which is based on the principle of point distribution of financial resources based on risk assessment. This will make it possible to prioritize the distribution of financial resources in the implementation of PPP projects.