Abstract
![CDATA[Globally, the management of financial risk is a topic that has gained much attention in the construction management research community in recent years. Existing studies rank financial risks among the top three risk factors that leads to the failure of a PPP project. Available literature on Public Private Partnership (PPP) projects also acknowledges the need for specific and suitable maturity models to tackle this problem of financial risks. However, there are limited (almost non-existent) studies on specific maturity models on financial risks of PPP projects. In this paper, we developed, tested and validated a financial risk maturity model (FRMM) to enhance the management of financial losses of PPP projects. The FRMM uses a list of statements extracted from financial risk management literature on PPP projects. The statements in the designed model were tested and validated with data from surveys and interviews of experts and practitioners in the PPP market in Australia, China and Ghana. According to the findings backed by experts and literature, FRMM improves the financial success of PPPs. Project managers could use the FRMM as a guide to control financial losses of the project, and the results support further research.]]
Original language | English |
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Title of host publication | Proceedings of the Thirty-seventh Annual Conference of the Association of Researchers in Construction Management (ARCOM), September 6-7, 2021, U.K. |
Publisher | Association of Researchers in Construction Management |
Pages | 412-421 |
Number of pages | 10 |
ISBN (Print) | 9780995546356 |
Publication status | Published - 2021 |
Event | ARCOM (Association). Annual Conference - Duration: 6 Sept 2021 → … |
Conference
Conference | ARCOM (Association). Annual Conference |
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Period | 6/09/21 → … |