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Ahmadi Esfahani, N and Shahandashti, M (2020) Post-hazard labor wage fluctuations: a comparative empirical analysis among different sub-sectors of the U.S. construction sector. Journal of Financial Management of Property and Construction , 25(03), 313–30.

Akinradewo, O I, Aigbavboa, C O and Oke, A E (2020) Improving accuracy of road projects’ estimates in the Ghanaian construction industry. Journal of Financial Management of Property and Construction , 25(03), 407–21.

Gupta, P K and Verma, H (2020) Risk perception in PPP infrastructure project financing in India. Journal of Financial Management of Property and Construction , 25(03), 347–69.

• Type: Journal Article
• Keywords: Infrastructure projects; Risk management; Public private partnership; Risk perception; Key risk mitigation measures;
• ISBN/ISSN: 1366-4387
• URL: https://doi.org/10.1108/JFMPC-07-2019-0060
• Abstract:
  The purpose of this paper is to examine the risk perception of project sponsors in financing of public–private partnership (PPP) infrastructure projects in India. The methodology used is survey questionnaire that seeks the perception of risk managers in PPP projects. Rating and relative ranking of risk at various phases of PPP project have been analyzed and supplemented by unstructured interviews. This paper shows that the perception of project sponsors for various levels of project risk categories differ significantly in PPP infrastructure projects. The practices of assessing risk and handling differ among the financing institutions. The ranking of risks shows a disagreement among respondents for relative importance. The project financiers that include major banks and financial institutions funding for the PPP infrastructure projects perceive risks differently, and their disagreement on the relative importance of risks may create a sub-optimality in risk management, and the essence of project sponsorship may be lost. This paper examines the perceptions of the various risks involved in PPP infrastructure project financing. The authors emphasize on the infrastructure projects in the transportation and energy sector that are undertaken in the PPPs. This research can further be extended to the other infrastructure sectors such as roads, shipping and communication. Experiences reveal that risk perception profoundly influence the implementation of infrastructure projects involving PPPs. To ensure smooth implementation and success of PPP infrastructure projects, the project sponsors must align, synchronize and develop consensus on the various funding and non-funding risks into the project curriculum. The PPP infrastructure projects carry huge investment and are of strategic importance to the nation and society. In order that the provision of infrastructure which can be most economically and efficiently delivered through PPPs, the risk concordance assumes crucial importance. The authors believe that this research may provide new direction to the visible and invisible misbalances in risk postures of project partners, which has been a cause of concern to the government and policymakers in India in the recent times.

Onubi, H O, Yusof, N and Hassan, A S (2020) Effects of green construction on project’s economic performance. Journal of Financial Management of Property and Construction , 25(03), 331–46.

W., F A (2020) Impacts of capital structure: profitability of construction companies in Ethiopia. Journal of Financial Management of Property and Construction , 25(03), 371–86.

Williams, C and Kosta, B (2020) Explaining the cash-in-hand consumer culture in the European home repairs and renovations sector. Journal of Financial Management of Property and Construction , 25(03), 387–405.

Windapo, A O, Olugboyega, O and Odediran, S (2020) Impacts of procurement strategies on construction SMEs’ growth. Journal of Financial Management of Property and Construction , 25(03), 423–46.