A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Renegotiating PPP contracts : reinforcing the P' in partnership
Abstract: The issue of renegotiation is becoming increasingly important as a tool to address uncertainty of publicprivate partnership (PPP) projects and as a mechanism to restore its economic and financial equilibrium. This paper aims to understand how and why renegotiations occur in long-lasting PPP projects and what are the pros and cons of the renegotiation. We depart from a literature review on contract incompleteness and on the determinant factors for the renegotiation of infrastructure concessions. To illustrate the discussion, the case studies of nine European PPP projects are analysed by examining the specific exogenous and endogenous determinant factors that conduce to renegotiating contracts. The implications of contractual renegotiations are explained and summarized through a comparison of our case studies with literature. Although renegotiation, per se, is not a solution for the successful implementation of PPP projects, our findings reinforce the idea of contractual flexibility as a tool that allows adapting to uncertainty. Moreover, effective communication mechanisms allow a better response to unforeseen events, reinforcing the partners commitment to deliver a winwin project.
Renegotiating PPP contracts : reinforcing the P' in partnership
Abstract: The issue of renegotiation is becoming increasingly important as a tool to address uncertainty of publicprivate partnership (PPP) projects and as a mechanism to restore its economic and financial equilibrium. This paper aims to understand how and why renegotiations occur in long-lasting PPP projects and what are the pros and cons of the renegotiation. We depart from a literature review on contract incompleteness and on the determinant factors for the renegotiation of infrastructure concessions. To illustrate the discussion, the case studies of nine European PPP projects are analysed by examining the specific exogenous and endogenous determinant factors that conduce to renegotiating contracts. The implications of contractual renegotiations are explained and summarized through a comparison of our case studies with literature. Although renegotiation, per se, is not a solution for the successful implementation of PPP projects, our findings reinforce the idea of contractual flexibility as a tool that allows adapting to uncertainty. Moreover, effective communication mechanisms allow a better response to unforeseen events, reinforcing the partners commitment to deliver a winwin project.
Renegotiating PPP contracts : reinforcing the P' in partnership
Domingues, Sérgio (author) / Zlatkovic, Dejan (author)
2015-01-01
0144-1647 ; Transport reviews
Article (Journal)
Electronic Resource
English
Renegotiating PPP Contracts: Reinforcing the ‘P' in Partnership
| Taylor & Francis Verlag | 2015
Renegotiating PPP Contracts: Reinforcing the 'P' in Partnership
| Online Contents | 2015
| Elsevier | 2014
Renegotiating the Architectural Space, Landscape
| British Library Conference Proceedings | 2012