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Towards a model for goal setting and negotiation in public private partnerships

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conference contribution
posted on 06.12.2017, 00:00 by Hui Thia, DG Ross
In Australia, Public Private Partnerships (PPPs) are a relatively new concept to project finance. While there have been many successful infrastructure projects undertaken through PPPs, there are other PPP projects that have been fraught with problems. PPPs such as the Spencer Street Railway Station redevelopment in Melbourne and the Cross City Tunnel in Sydney renewed debate among professionals and academics on both the merits and the future direction of PPPs. PPPs in project finance bring together two disparate organisations with distinctly different goals as project sponsors. Such an arrangement requires the project sponsors to constantly strive to achieve common goals. Therefore, the success of PPPs depends upon, inter alia, the process of goal setting and negotiation by the project sponsors to meet their respective goals and to achieve the best possible performance outcome. Works describing the structuring of project finance and the use of the PPPs are increasingly common (Esty and Christov, 2002, Esty, 2003, Finnerty, 1996, Nevitt and Fabozzi, 2000, Yescombe, 2002). Nonetheless, the authors have not located any works focusing on the goal setting and negotiation issues in PPPs. This paper takes a first step towards addressing this deficiency by presenting a model for goal setting and negotiation in PPPs. This is followed by a review of the literature in each of the key areas of the model that influences goal setting and negotiation in PPPs: strategic factors in project finance, public sector goals and private sector goals. It concludes with the identification of the key research questions emanating from the model.

Funding

Category 1 - Australian Competitive Grants (this includes ARC, NHMRC)

History

Editor

Kennedy J; Di Milia V

Parent Title

Proceedings of the 20th ANZAM Conference [electronic resource] : Management : pragmatism, philosophy, priorities

Start Page

1

End Page

18

Number of Pages

18

Start Date

06/12/2006

Finish Date

09/12/2006

ISBN-10

1921047348

Location

Yeppoon, Qld

Publisher

Australian and New Zealand Academy of Management

Place of Publication

Lindfield, NSW

Peer Reviewed

Yes

Open Access

No

External Author Affiliations

Central Queensland University; Graduate School of Management; International conference;

Era Eligible

No

Name of Conference

Australian and New Zealand Academy of Management. International conference