Business, Management and Accounting
5 years ago

Private sector innovation revolutionizes public works projects, increasing efficiency and transparency.

International Journal of Building Pathology and Adaptation
The researcher's perspective on procuring public works projects
Esther Cheung, Albert P.C. Chan, Stephen L. Kajewski

Paper Summary

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The article discusses interviews with researchers about private sector involvement in public works projects. The researchers found that projects procured through Public-Private Partnerships (PPPs) have different risk profiles and are more innovative and efficient compared to traditional projects. In PPP projects, the public sector transfers project risks to the private sector, which is also more efficient and innovative. Key success factors for PPP projects include transparency in the process and meeting market needs. The study compared views from researchers in Hong Kong and Australia, showing differences in perspectives on PPP projects.