Public Private Partnership to Brownfield Remediation Projects in China: A Combined Risk Evaluation Approach

Qingye Han (), Yan Qin, Heng Zhang and Ginger Y. Ke
Additional contact information
Qingye Han: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Yan Qin: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Heng Zhang: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Ginger Y. Ke: Faculty of Business Administration, Memorial University of Newfoundland, St. John’s, NL A1B 3X5, Canada

Land, 2024, vol. 13, issue 1, 1-18

Abstract: Brownfields have been receiving significant attention all over the world because of their potential threats to the environment and public health. However, a funding shortage constitutes the main obstacle to the brownfield remediation (BR). In China, to ease financial dilemmas, the governments seek collaborations with private-sector companies, i.e., the Public Private Partnership (PPP) mode. Despite all the benefits, BR and PPP contain high risks, making stakeholders extremely cautious about investing in such projects. To support the decision-making process of the public and private parties, this paper designs a comprehensive approach to evaluate the risks of BR PPP projects in China. In more detail, several commonly used risk methods, such as TOPSIS, GRE, and FSE, are employed to construct a combined risk evaluation process, which applies multiple combined evaluation techniques to iteratively integrate individual results from those methods until a valid common result is achieved. To show the practical implementation procedure of the proposed combined approach, a hypothetical case study is performed to assess the risks of seven BR PPP projects. The analytical process also verifies that the consistency and reliability of the risk evaluation result can be achieved effectively and efficiently by jointly deploying multiple risk methods through combined techniques. The proposed decision framework facilitates a novel research idea in evaluating complicated risk situations, and can be applied to other similar scenarios where uncertainties and inconsistencies are inevitable.

Keywords: brownfield; public private partnership; risk assessment; combined evaluation (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2073-445X/13/1/56/pdf (application/pdf)
https://www.mdpi.com/2073-445X/13/1/56/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:13:y:2024:i:1:p:56-:d:1312329

Access Statistics for this article

Land is currently edited by Ms. Carol Ma

More articles in Land from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().