A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Financial Impact Assessment of Construction Delay in BOT Infrastructure Projects
In Thailand, a PPP arrangement called build-operate-transfer or BOT is commonly employed for large-scale infrastructure projects. The life cycle of BOT arrangement can be divided into three phases: the design phase, the construction phase, and the operation phase. In this paper, the focus is on the construction phase since it appears to be the phase with the highest level of risk. Several studies have also found that many large-scale infrastructure projects experienced a chronic problem of construction delay, some of which even led to contract termination. In a PPP setting, the consequences of construction delay can be more acute and thus worth studying. The objective of this research is therefore to evaluate financial impacts resulting from construction delay. Financial model of a hypothetical BOT infrastructure project will be employed in this study. Risk analysis using Monte Carlo simulation will also be performed in order to identify level of risk exposed by the project sponsor. The results of this study may provide an insight into how construction risk shall be mitigated and managed by both the public sector and the private sector so as to create a fair and robust BOT contract in the future.
Financial Impact Assessment of Construction Delay in BOT Infrastructure Projects
In Thailand, a PPP arrangement called build-operate-transfer or BOT is commonly employed for large-scale infrastructure projects. The life cycle of BOT arrangement can be divided into three phases: the design phase, the construction phase, and the operation phase. In this paper, the focus is on the construction phase since it appears to be the phase with the highest level of risk. Several studies have also found that many large-scale infrastructure projects experienced a chronic problem of construction delay, some of which even led to contract termination. In a PPP setting, the consequences of construction delay can be more acute and thus worth studying. The objective of this research is therefore to evaluate financial impacts resulting from construction delay. Financial model of a hypothetical BOT infrastructure project will be employed in this study. Risk analysis using Monte Carlo simulation will also be performed in order to identify level of risk exposed by the project sponsor. The results of this study may provide an insight into how construction risk shall be mitigated and managed by both the public sector and the private sector so as to create a fair and robust BOT contract in the future.
Financial Impact Assessment of Construction Delay in BOT Infrastructure Projects
Kasemsukh, Supattaradech (author) / Kokkaew, Nakhon (author)
International Conference on Construction and Real Estate Management 2020 ; 2020 ; Stockholm, Sweden (Conference Held Virtually)
ICCREM 2020 ; 425-434
2020-10-14
Conference paper
Electronic Resource
English
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