International conference on construction engineering and project management (국제학술발표논문집)
- 2005.10a
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- Pages.996-1001
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- 2005
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- 2508-9048(eISSN)
MODEL FOR GOVERNMENT RESCUE POLICIES IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS
Abstract
Today, government is no longer considered the sole provider of public works or services. Public-Private Partnership (PPP) has been recognized as an important approach to solving problems for governments in providing public works and services. However, the joint ownership of public works/services complicates the administration of PPP projects. Particularly, the fact that government may rescue a distressed project and renegotiate with the developer causes serious problems in project procurement and management. This paper aims to study when and how government will rescue a distressed project and what impacts government's rescue behavior has on project procurement and contract management. A game-theory based model for government rescue will be developed. This pilot study, the author hopes, may provide theoretic foundations to practitioners/policy makers for prescribing creative PPP procurement and management policies and for examining the effectiveness of PPP policies.