id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ajceb-2996	Li, Jie; Zou, Patrick	Risk Identification and Assessment in PPP Infrastructure Projects using Fuzzy Analytical Hierarchy Process and Life-Cycle Methodology	2012	15	.pdf	application/pdf	6435	232	46	Li et al 2005, UK Lemos, et al, 2004, Portugal Grimsey, et al, 2002, UK WANG, et al, 2000, China Akintoye, et al, 1998, UK Total Feasibility study Environmental pollution √ √ √ √ √ √ 6 Risk of not-permit/ approval √ √ √ √ √ 5 Land acquisition and compensation problems √ √ √ √ √ 5 Public opposition √ √ √ √ 4 Pre-investment risk √ √ √ 3 Exclusivity, (i.e. not providing second facility √ √ √ 3 Level of demand for project √ √ √ 3 Political opposition/hostility √ √ 2 Poor public decision-making process √ √ 2 Financing Interest rate volatility √ √ √ √ √ √ 6 Inflation rate volatility √ √ √ √ √ √ 6 Legislation change √ √ √ √ √ √ 6 Low financial attraction of project to investors √ √ √ √ √ 5 High finance costs √ √ √ √ √ 5 Poor financial market √ √ √ √ 4 Design Design deficiency √ √ √ √ √ 5 Too many design changes √ √ √ √ √ 4 Unproven engineering techniques √ √ 1 Construction Construction cost overrun √ √ √ √ √ √ 6 Delay completion √ √ √ √ √ √ 6 Table 1: Risk identification and classification based on project lifecycle Risk category Risk factors Singh et al, 2006,India Li et al 2005, UK Lemos, et al, 2004, Portugal Grimsey, et al, 2002, UK WANG, et al, 2000, China Akintoye, et al, 1998, UK Total Environmental pollution √ √ √ √ √ √ 6 interest rate volatility √ √ √ √ √ √ 6 Inflation rate volatility √ √ √ √ √ √ 6 Difficulties in land acquisition and compensation √ √ √ √ √ 5 Too many late design variation √ √ √ √ √ 5 Non-reliability and creditworthiness of local parties √ √ √ √ √ 5 public opposition √ √ √ √ 4 Construction force majeure events √ √ √ √ 4 Poor quality workmanship √ √ √ 3 Excessive contract variation √ √ √ 3 non-availability of material / Labour √ √ √ 3 Insolvency / default of subcontractor or suppliers √ √ √ 3 Bad weather √ √ √ 3 Poor Geotechnical conditions √ √ 2 Operation Operation revenues below expectation √ √ √ √ √ √ 6 Fluctuating market demand √ √ √ √ √ √ 6 Operation / maintenance cost overrun √ √ √ √ √ √ 6 Environmental pollution √ √ √ √ √ √ 6 interest rate volatility √ √ √ √ √ √ 6 Inflation rate volatility √ √ √ √ √ √ 6 Legislation change √ √ √ √ √ √ 6 Risk category Risk factors Singh et al, 2006,India Li et al 2005, UK Lemos, et al, 2004, Portugal Grimsey, et al, 2002, UK WANG, et al, 2000, China Akintoye, et al, 1998, UK Total Lack of reliability and creditworthiness of local parties √ √ √ √ √ √ 6 Low productivity during operation √ √ √ √ √ 5 Technology risk √ √ √ √ √ 5 public opposition because of high product/service price/fees √ √ √ √ 4 Operator’s inability √ √ √ √ 4 Exclusivity, (i.e. not second facility) √ √ √ 3 Political force majeure events √ √ √ 3 Debt risk √ √ 2 Expropriation, revoke, sequestration of assets √ √ 2 Prolonged downtime during operation √ √ 2 Transfer low residual value √ √ √ 3 Transmission failure √ √ 2 the joint venture projects to support the rational decision making of project stakeholders. Level 1 objective Level 2 risk group Level 3 risk factor PPP Risks Assessment and Ranking (R1) Risk ranking in  Feasibility  study (R2‐1)  … … … R isks (R 3-11) R isks (R 3-1x) Risk ranking in  Design  ( ) … … … R isks (R 3-31) R isks (R 3-3x) Risk ranking in  Financing  … … … R isks (R 3-21) R isks (R 3-2x) Risk ranking in  Construction (R2-4) … … … R isks (R 3-41) R isks (R 3-4x) Risk ranking  in Operation (R2-5) … … … R isks (R 3-51) R isks (R 3-5x) Risk ranking in  Transfer (R2-6) … … … R isks (R 3-51) R isks (R 3-5x) Figure 2: PPP Risks hierarchy structure Fuzzy scale Definition of the fuzzy set Intensity of importance 1 1 Two activities contribute equally to the objective 1% ~	cache/ajceb-2996.pdf	txt/ajceb-2996.txt