Fuzzy Synthetic Evaluation of the Critical Success Factors for the Sustainability of Public Private Partnership Projects in China

Binchao Deng, Dongjie Zhou, Jiachen Zhao, Yilin Yin and Xiaoyu Li
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Binchao Deng: School of Management, Tianjin University of Technology, Tianjin 300384, China
Dongjie Zhou: School of Management, Tianjin University of Technology, Tianjin 300384, China
Jiachen Zhao: School of Management, Tianjin University of Technology, Tianjin 300384, China
Yilin Yin: School of Management, Tianjin University of Technology, Tianjin 300384, China
Xiaoyu Li: School of Management, Tianjin University of Technology, Tianjin 300384, China

Sustainability, 2021, vol. 13, issue 5, 1-23

Abstract: Public Private Partnership (PPP) projects have attracted wide attention from academia and industry over the past 20 years, however, they have been plagued by certain factors. This study identified, classified, and evaluated the success factors that may affect PPP projects for achieving sustainability. First, a list of 32 critical success factors were categorized into 3 groups, then a questionnaire survey was conducted, with 108 responses received from experts, researchers, and PPP project managers in China. Second, using a fuzzy synthetic evaluation (FSE) method, stakeholder relationships (A 1 –A 10 ), external environmental (B 1 –B 8 ), and project management of a special purpose vehicle (C 1 –C 14 ) collected data at three different factor group locations in PPP projects were used in this evaluation. The results obtained nine top factors: private sector financing capacity, government credit, government commitment or guarantee, completeness of legal framework, available financial markets, the feasibility study report and implementation, effectiveness of risk management, project investment, and cost control and revenue distribution. It was demonstrated that fuzzy synthetic evaluation techniques are quite appropriate techniques for PPP projects. The research findings should impact on policy development towards PPP and Private Finance Initiative (PFI) project governance.

Keywords: public private partnership; critical success factors; fuzzy synthetic evaluation; sustainability; project governance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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