Public Private Partnership (PPP) is a well established methodology for procuring public works projects. By incorporating the private sector’s expertise, efficiency, innovation, business sense, risk sharing, financing etc. into public works projects, the quality of public services and facilities can be uplifted. Like many jurisdictions, Hong Kong is also keen to take aboard this methodology which is so familiar but yet so distant. Although they have been one of the first jurisdictions to utilise the private sector in public works projects, their comfortable financial reserves has meant that there has been no urge to push the movement until recently. PPP has become increasingly popular amongst governments. The Hong Kong Special Administrative Region (HKSAR) government is no exception. Some of the more active works departments have commissioned studies to investigate the best ways to deliver these projects, others have even trialed the method themselves. The efficiency Unit of the HKSAR government has also become an active arm in conducting research in this area. Although so, the information that is currently available is still very broad. Building from their works there is a need to develop a best practice framework for implementing PPP projects in Hong Kong by incorporating international experiences. To develop a best practice framework will require thorough investigation into the benefits, difficulties and critical success factor of PPP. PPP should also be compared with other procurement methods. In order to do so it is important to clearly understand the local situation by an analysis of projects conducted to date. Lessons learnt can further be derived from other countries and incorporated to those derived locally. Finally the best conditions in terms of project nature, complexity, types, and scales for adopting PPP should be derived. The aim and objectives of this study were achieved via a comprehensive literature review, in-depth case analyses, interview survey with experts from both Hong Kong and overseas, and finally a large scale data collection was conducted via a questionnaire survey with PPP practitioners. These findings were further triangulated before they were used as the basis to form the best practice framework presented in this thesis. The framework was then further validated by PPP experts to ensure it is comprehensive, objective, reliable and practical. This study has presented a methodology that can be adopted for future studies. It has also updated our knowledge on the development trends of PPP as well as opened up the experiences of other jurisdictions. The findings have shown that the local industry is familiar with “what” should be done in PPP projects but they are unsure of “how” these goals can be achieved. This framework has allowed this further knowledge to be delivered to PPP practitioners. As a result, the development of this framework can help to resolve the current economic crisis by encouraging more developments and business opportunities for the private sector. In addition, the correct projects can be delivered by PPP, the advantages of PPP can be maximised, and the general public can benefit from the private sector’s participation.

Made available in DSpace on 2014-08-20T13:44:36Z (GMT). No. of bitstreams: 1 dissertacao_milton_dalbosco.pdf: 577802 bytes, checksum: 94b9c132d3628e092a6a42632f64e0de (MD5) Previous issue date: 2013-08-29 / The Brazilian Agricultural Research Corporation (Embrapa) and the Southern Foundation for Agricultural Research Support (Fundação Meridional), signed in the beginning of year 2.000, a Public-Private Partnership (PPP), looking forward to develop strategies for an efficient model of technology transfer, specially in the dissemination of results from the research projects developed with soybean crop. Among the techniques used by this model, which served as communication channels, are items such as ranking, validation, Special Observation Unit (UOE) and Special Field Day (DCE), Annual Technology Transfer Plan (PATT), Expositive Crop Areas, Technical Trainings, Field Days and also Technical and Commercial Meetings (CRTC). Each one of these tools has its limitations, weaknesses, strengths, flexibilities and generate many benefits, but also suffer the influence of brazilian seed market requirements. Another fact mentioned in this study is that the strategies developped and employed by this public-private partnership provide improvements in effectiveness of instruments for technology transfer and so improved technical and economic performance, specially by bringing together the work of researchers, technicians and farmers. The information exchange among the agents involved in this process and the activity interaction, performed in this model, certainly increase agricultural research in Brazil. / A Embrapa e a Fundação Meridional de Apoio à Pesquisa Agropecuária firmaram no início deste século XXI, uma Parceria Público-Privada (PPP), que buscou delimitar estratégias para a criação de um eficiente modelo de transferência de tecnologia, especialmente na divulgação do projeto de pesquisa desenvolvido com a cultura da soja na safra 2012/2013. Entre as técnicas utilizadas por este modelo e que serviram de canais de comunicação estão itens como Ranqueamento, Validação, UOE e DCE (Unidade de Observação Especial e Dia de Campo Especial), Plano Anual de Transferência de Tecnologia (PATT), Lavouras Expositivas, Treinamentos Técnicos, Dias de Campo e Ciclo de Reuniões Técnicas e Comerciais (CRTC). Cada uma dessas ferramentas apresenta limitações, fragilidades, fortalezas, flexibilidades, geram muitos benefícios, mas sofrem com a influência das exigências do mercado de sementes no País. Outro fator mencionado neste estudo é que as estratégias empregadas por esta parceria propiciam melhorias no nível de eficácia dos instrumentos de transferência de tecnologias e um melhor desempenho técnico e econômico, principalmente pela aproximação entre os trabalhos realizados por obtentores, pesquisadores, profissionais e agricultores , pois o emprego destas técnicas tem colaborado decisivamente para que possam participar conjunta e ativamente das etapas dos programas de melhoramento genético desenvolvidos pela parceria pública-privada Embrapa e Fundação Meridional. O intercâmbio de informações - entre os agentes envolvidos no processo - e a interação das atividades desempenhadas neste modelo contribuem ainda mais para o fortalecimento da pesquisa agropecuária no Brasil.

This study is about the perceptions, feelings, attitudes and knowledge of people towards government with regard to service delivery and participation with communities in order to accelerate social development. Government's enthusiasm to get things done often results in development not occurring at all. Entering into balanced partnerships with the private sector and communities needs to be explored a lot deeper. It must be borne in mind that people's attitudes, perceptions and feelings may differ according to the different strata of government. The study was undertaken to ascertain how people feel and thereby assess how effective government has been in the past seven years. This in turn will enable government to focus its efforts in the right direction. The study took into account various theoretical issues regarding the role of the state in developing a nation, the importance of knowledge and the management thereof as well as the changing face of development over the years. The shift in paradigm of the study of development is discussed as a matter of importance with structural adjustment programmes often resulting in slowed development and negative economic growth. Often schools of thought in development try to impose their thinking, but what this paper proposes is that schools of thought are not of importance here but quality of life in terms of social development and empowerment are. The study was conducted by means of three focus groups whereby each focus group had different characteristics. After the focus groups were conducted coding of the information gathered took place so as to facilitate analysis and interpretation. The study found that people are generally happy with the efforts of national government but that the delivery of service by regional and local government does not meet their expectations. It is also clear that the private and NGO sector seem to concentrate on the big urban townships whilst ignoring the plight of rural areas. The road ahead seems to indicate that consultation must take place and be improved with the communities as well as with big business who wish to develop their social responsibility programmes. It is recommended that local government be improved in terms of its effectiveness and responsiveness to its communities. Private sector must also re-assess its role in social development in the communities of its employees. The importance of this is then that government and private sector can work together in partnership in order to accelerate the pace of development. The credibility of government amongst the people as well as the reinforcement of democracy is at stake and the development of impoverished areas by ways of innovative strategies can only benefit all the peoples of our country. / Thesis (MA (Sociology))--University of Pretoria, 2004. / Sociology / unrestricted

Seit einigen Jahren erfolgt in Deutschland eine verstärkte Einbindung von privatwirtschaftlichen Akteuren bei der Bereitstellung öffentlicher Leistungen. Insbesondere im Bereich der Infrastrukturbereitstellung haben sich Öffentlich-Private-Partnerschaften als eine alternative Beschaffungsvariante etabliert. Diese Vertrags-ÖPP sind in den Kontext einer allgemeinen Privatisierungskritik geraten, vor allem wird die Wirtschaftlichkeit dieser Variante bzw. deren Berechnung diskutiert. Vor diesem Hintergrund liegt das Ziel der Studie darin, die geringe empirische Datenlage zum Status quo der Umsetzungspraxis zu vergrößern, die Beschaffungsalternativen konventionelle Beschaffungsvariante (KBV) und ÖPP komparativ gegenüberzustellen und dabei auch auf Aspekte einzugehen, die im Erfahrungsbericht der Rechnungshöfe nicht behandelt werden, da dieser ausschließlich die Wirtschaftlichkeit von ÖPP fokussiert. Der Untersuchungsgegenstand fokussiert nur kommunale ÖPP-Projekte die einen Lebenszyklusansatz verfolgen, folglich Infrastruktureinrichtungen wie Schulen, Kindertagestätten und Verwaltungsgebäude. Allen diesen Projekten ist inhärent, dass während der Vertragslaufzeit kein öffentliches Eigentum veräußert wird, die Aufgabenverantwortung folglich stets bei der öffentlichen Hand verbleibt und somit auch keine Privatisierung öffentlichen Eigentums erfolgt. Die Studie zeigt, dass bei vielen KBV-Projekten die Betriebskosten in den anfänglich zu erstellenden Wirtschaftlichkeitsvergleichen keine oder nur eine untergeordnete Rolle spielen, während bei ÖPP in der Regel von Anfang an der gesamte Lebenszyklus der Infrastruktureinrichtung betrachtet wird, da der Großteil der Gesamtkosten der Infrastrukturmaßnahme während der Betriebsphase anfällt. (Kostensparende) Synergieeffekte bleiben deshalb bei den KBV vielfach ungenutzt. Die Nutzung von ABC-Ausschreibungen löst dieses Problem nur bedingt, da durch sie Aufwand und Transaktionskosten enorm gesteigert werden. Die Betrachtung unterschiedlicher Wertschöpfungsstufen (Planung, Bau, Finanzierung, Betrieb, Verwertung) stellt den entscheidenden Punkt für die Wirtschaftlichkeit von ÖPP-Projekten im Vergleich zur KBV dar, da die private Seite veranlasst ist, die Bauleistungen betriebsoptimierend zu planen und durchzuführen. Ferner zeigt die Studie, dass die von den Rechnungshöfen angemahnte Verfahrenstransparenz eine Herausforderung bei allen öffentlichen Beschaffungsvarianten darstellt und das Fehlanreize, die durch die Prinzipal-Agent-Problematik entstehen, ebenfalls kein singuläres Defizit des ÖPP-Ansatzes sind. Dem Vorwurf, dass ÖPP-Projekte dazu genutzt würden, Schulden in öffentlichen Haushalten zu verschleiern und Kosten möglichst intransparent darzustellen, wird mit der schrittweisen bundesweiten Umstellung der Kommunen auf doppische Haushaltsführung weitestgehend der Boden entzogen, da ÖPP-Projekte mit Forfaitierung sogar Transparenzvorteile gegenüber den KBV aufweisen. Ziel der Studie ist nicht, die ÖPP als „Königsweg“ der öffentlichen Beschaffung darzustellen, sondern den Versuch zu unternehmen, einen kritischen Blick auf die Beschaffungsvariante selbst und die an ihr geäußerte Kritik zu werfen. Es gilt: Vor dem Hintergrund der langfristigen Bindung des privaten Partners und der damit verbundenen Verantwortungs- und Risikoteilung ist es nach wie vor möglich, dass wirtschaftlichere und bedarfsgerechtere Lösungen als bei der KBV gefunden werden.

A public-private partnership (PPP) is a collaborative partnership between the publicsector and a private entity. The adoption of PPPs has risen throughout the years, utilizedfor developing cultural infrastructure. With the increase in opting for PPPs, the numberof failed PPPs has shown to be due to inefficient risk management procedures. This thesisdelves into the realm of public-private partnerships (PPPs) and examines the integrationof stakeholder management in the risk identification process, aiming to answer thefollowing research question: How do the public sector and private sector in a public-private partnership respectivelyconsider stakeholder management when identifying risks? Through a qualitative single case study of a PPP project in Sweden, the research aims toprovide insights into how key actors in PPPs consider stakeholders when identifyingrisks. The study emphasizes the importance of stakeholder theory in enhancing riskidentification practices within the context of collaborative ventures. By exploring thecomplexities of PPPs and the dynamics of stakeholder engagement, this researchcontributes to the existing literature on effective partnership arrangements and riskmanagement in public-private partnerships (PPPs). The findings highlight thesignificance of incorporating stakeholder perspectives in risk identification strategies tofoster successful outcomes in PPP projects. To answer the research question, semi-structured interviews were conducted with thepublic and private entity involved in the PPP chosen for the case study. This study notonly offers theoretical implications for understanding the interplay between stakeholdertheory and risk management but also provides practical insights for organizations seekingto establish and maintain successful PPPs. The research underscores the critical role ofclear project objectives, defined partnership responsibilities, communication, andcollaboration in sustaining long-term partnerships. By bridging the gap betweenstakeholder theory and risk management, the study offers a theoretical contribution forunderstanding how stakeholder engagement can enhance risk identification strategies in PPP projects. Overall, this thesis contributes to advancing knowledge on stakeholder considerations inPPPs and offers recommendations for enhancing risk identification measures incollaborative ventures.

Nas últimas décadas a administração pública, em nível mundial, vem se transformando, passando de burocrática e ineficaz para uma administração gerencial buscando a eficiência na prestação dos serviços públicos. Assim diversos países optaram por delegar alguns serviços públicos para o setor privado, dando-se início às privatizações e concessões e o Estado mudou a sua postura de empresário a regulador. Os contratos de concessão não são padronizados, com características econômicas distintas gerando diversos eventos contábeis. Esse trabalho tem como objetivo analisar a contabilização desses arranjos para que as demonstrações contábeis dos parceiros privado e público evidenciem a essência econômica em detrimento da forma jurídica, com uma representação patrimonial mais próxima da realidade. Para o alcance desse objetivo foi feita uma revisão conceitual sobre as concessões e suas características econômicas e a necessidade de normatização contábil específica quanto ao tema, principalmente porque esses arranjos em sua maioria não constavam dos balanços patrimoniais (off-balance sheet). Em seguida discorreu-se sobre a contabilização desses arranjos de acordo com as normas internacionais: IFRIC 12 (normativo contábil para o parceiro privado) e ED 43 (minuta de interpretação para o parceiro público). Também através da análise de conteúdo foram analisadas as minutas de interpretações relativas a contabilização dos contratos de concessão que foram disponibilizadas para audiência pública e os comentários de diversos órgãos e profissionais a fim inferir se os órgãos regulamentadores (IASB e IFAC) buscaram evidenciar nos normativos a verdadeira substância econômica desses arranjos. E ainda foi realizada a contabilização do contrato de parceira público-privada (que é uma modalidade de concessão), na modalidade patrocinada da PPP MG-050, tendo por base a recente regulação para o parceiro privado e ainda em discussão a regulação para o parceiro público. Conclui-se que ao buscar a essência sobre a forma nas demonstrações contábeis principalmente nesses arranjos, com os diversos riscos a que estão expostos, a contabilidade contribui com a sua função social que é de fornecer informações úteis aos seus diversos usuários, e nesse caso específico, que podem auxiliar o parceiro público a tomar decisão quando da fixação das tarifas e nas renegociações contratuais. Quanto aos balanços públicos, o estudo revela que poderão estar mais transparentes evidenciando o endividamento dos entes públicos e o custo social desses arranjos. / In recent decades, public management around the world has been changing from bureaucratic and ineffective to a search for efficiency in public service delivery. Different countries have chosen to delegate some public services to the private sector, starting, with a change in the States posture from entrepreneurial to regulatory. In the concessions context, these contracts are not standardized and display distinct economic characteristics, entailing the need for detailed interpretation and analysis with a view to their accounting treatment in the affected entities. This research aims to analyze the accounting treatment of these arrangements so that the financial statements of public and private partners evidence the contracts economic essence. To achieve this goal, a conceptual review was done about concessions and their economic characteristics, as well as about the need for specific accounting standards on the theme. Next, the accounting treatment of these arrangements was discussed in accordance with the interpretation of international standard IFRIC 12 (accounting standard for the private partner) and ED 43 (draft accounting standard for public partner). Using content analysis, the minutes of interpretations about the accounting treatment of concession contracts made available for public hearing were analyzed in detail, as well as comments by different entities and professionals, in order to infer whether regulatory entities (IASB and IFAC) attempted to disclose the economic substance of these arrangements in their standards. In empirical terms, the public-private partnership contract of PPP MG-050 was analyzed and the financial statements of the private and public partners were estimated throughout the contract period in the framework of the abovementioned standards. Based on these methodological procedures, it is concluded that, by attempting to picture the economic essence in the financial statements of the entities affected by the diverse risks in those contracts, accounting contributes to its social function of offering useful information to its different users and, in this specific case, information that can help the public partner to make tariff decisions and in contract renegotiations. As for public balance sheets, the research reveals that these can be more transparent, evidencing public entities indebtedness and the social cost of these arrangements.

The purpose of our thesis is to investigate the incentive mechanisms that may be used for a timely and successful implementation of Public-Private Partnership (PPP) projects. This purpose is achieved by investigating challenges and success factors within one of the largest Public-Private Partnership projects in Europe, the SESAR programme which stands for Single European Sky ATM Research and that aims at modernising the European air traffic management (ATM) system. The categories of SESAR actors that we investigated include: stakeholders (airspace users such as Air France, KLM, SAS; ANSPs from Sweden,Finland, Netherlands and the CANSO organisation; airport representatives including Swedavia, Zürich Airport and Guernsey Airport); as well as manufacturers (e.g. Airbus, Frequentis, Thales); international organisations as principals (e.g. European Commission – SESAR Joint Undertaking-, EUROCONTROL) and advisers (e.g. Helios UK). Referring to our contribution to the theory, we identify four categories of incentive mechanisms for timely implementation of large PPP projects: i. Financial incentives such as loans, proportionate with the level of risks the implementer bears; the deduction of loan fees or reduction of service charges can motivate stakeholders to implement earlier, once they identify a positive business case. ii. Operational incentives can refer to certain preferential treatment to those who comply and detrimental treatment to those who do not comply. iii. Legal incentives such as mandates can force commitment and have an impact on the timely implementation of PPP projects within a certain time-frame. iv. Intangible incentives, such as transparent communication, collaboration and less political behaviour, are seen as major factors contributing to the commitment and trust level among the actors involved, thus, enabling the success of the PPP project implementation.

Public-Private-Partnership (P3) is gaining momentum as the delivery method for the development of public infrastructure. These projects, however, are exposed to economic risks. If the private parties are not comfortable with the level of the risks, they would not participate in the project and, as a result, the infrastructure will most likely not be realized. As an incentive for participation in the P3 project, private parties are sometimes offered guarantees against unfavorable economic risks. Therefore, the valuation of these guarantees is essential for deciding whether or not to participate in the project. While previous works focused on the valuation of guarantees, the incorporation of credit risk in the value of the P3 projects and the guarantees has been neglected. The effect of credit risk can be taken into account by using the rigorous Credit Value Adjustment method (CVA). CVA is a computationally demanding method that the valuation methods currently in the literature are not capable of handling. This research offers a novel approach for the valuation of guarantees and P3 projects which is computationally superior to the existing methods. Because of this computational efficiency, CVA can be implemented to account for credit risk. For the development of this method, a continuous stochastic differential equation (SDE) is derived from the forecasted curve of an economic risk. Using the SDE, the partial differential equation (PDE) governing the value of the guarantees will be derived. Then, the PDE will be solved using Finite Difference Method (FDM). A new feature for this method is that it obtains exercise strategies for the Australian guarantees. The present work extends the literature by providing a valuation method for the cases that multiple risks affect P3 projects. It also presents an approach for the valuation of the Asian style guarantee, a contract which reimburses the private party based on the average of risk factor. Finally, a hypothetical case study illustrates the implementation of the FDM-based valuation method and CVA to obtain the value of the P3 project and the guarantees adjusted for the counterparty credit risk.

Public-Private-Partnership (P3) is gaining momentum as the delivery method for the development of public infrastructure. These projects, however, are exposed to economic risks. If the private parties are not comfortable with the level of the risks, they would not participate in the project and, as a result, the infrastructure will most likely not be realized. As an incentive for participation in the P3 project, private parties are sometimes offered guarantees against unfavorable economic risks. Therefore, the valuation of these guarantees is essential for deciding whether or not to participate in the project. While previous works focused on the valuation of guarantees, the incorporation of credit risk in the value of the P3 projects and the guarantees has been neglected. The effect of credit risk can be taken into account by using the rigorous Credit Value Adjustment method (CVA). CVA is a computationally demanding method that the valuation methods currently in the literature are not capable of handling. This research offers a novel approach for the valuation of guarantees and P3 projects which is computationally superior to the existing methods. Because of this computational efficiency, CVA can be implemented to account for credit risk. For the development of this method, a continuous stochastic differential equation (SDE) is derived from the forecasted curve of an economic risk. Using the SDE, the partial differential equation (PDE) governing the value of the guarantees will be derived. Then, the PDE will be solved using Finite Difference Method (FDM). A new feature for this method is that it obtains exercise strategies for the Australian guarantees. The present work extends the literature by providing a valuation method for the cases that multiple risks affect P3 projects. It also presents an approach for the valuation of the Asian style guarantee, a contract which reimburses the private party based on the average of risk factor. Finally, a hypothetical case study illustrates the implementation of the FDM-based valuation method and CVA to obtain the value of the P3 project and the guarantees adjusted for the counterparty credit risk.

O presente estudo tem por objetivo analisar os principais aspectos relativos à formatação de contratos das Parcerias Público-Privadas (PPP), entre o Estado e a iniciativa privada sob a ótica econômica, com foco no setor de saneamento básico, para melhoria dos resultados dos serviços prestados à população. Os instrumentos de análise são as experiências internacionais mais desenvolvidas e a base teórica disponível na literatura internacional, e também, os elementos essenciais considerados nas formatações das parcerias, indicadas por organismos internacionais. É apresentada a evolução das PPPs ao longo da história, os fundamentos teóricos dessas modalidades de atendimento à infraestrutura e provisão de serviços. Os principais modelos de parcerias desenvolvidas e as diferentes formatações das mesmas são expostos, apontando aplicação dessa tecnologia em diferentes áreas ao redor do mundo. Situam-se as principais demandas, dificuldades e oportunidades em saneamento básico no Brasil, no estado do Rio Grande do Sul, na cidade de Porto Alegre, onde a formatação de PPPs é uma alternativa para acessibilidade aos serviços e ao desenvolvimento das infraestruturas demandadas pela sociedade, em um ambiente de restrição de recursos governamentais, em conjunto de normas legais e aspectos regulatórios existentes. Pontuam-se os principais tópicos a serem considerados na constituição, desenvolvimento e implementação de uma PPP, tanto sob a ótica do Estado quanto do operador privado e da sociedade, sendo o norte principal os instrumentos utilizados em diferentes países com sucesso na utilização da tecnologia e as bases dos programas incentivados por organismos como World Bank, Fundo Monetário Internacional e United Nations. Considera o ferramental de análise usado durante as diferentes fases do processo e da efetividade e da eficiência de uma PPP para todos os agentes envolvidos. Do conjunto de informações coletadas e analisadas, percebe-se a grande oportunidade para o Brasil e seus entes federados utilizar a tecnologia para resolver os problemas existentes no setor de saneamento, em especial, embora haja limitação de informações, para a formatação e constituição de PPPs. / This dissertation aims to evaluate the main aspects concerning the format of contracts for public-private partnerships between state and private initiative, under the economic perspective, focusing on the basic sanitation sector, and whose results are to improve services population. The analytical tools are the most developed international experiences and the theoretical basis presented by the international literature, as well as the essential elements to be considered in the formatting of the partnerships listed by international agencies. It shows the evolution of PPPs throughout history, as well as the theoretical foundation behind this type of service infrastructure and service provision. The main partnership models developed and the different formats of them are exposed, pointing application of this technology in different areas around the globe. It presents the main demands, challenges and opportunities in basic sanitation in Brazil, in state of Rio Grande do Sul, in Porto Alegre city, where the formatting of PPP is an alternative to accessibility to services and infrastructure development demands by society, in an environment of restricted resources of government, together with the legal and regulatory issues exist. It punctuates the main topics to be considered in the creation, development and implementation of a PPP, both from the perspective of the state, the private operator and society, with the northern main tools used in different countries with successful use of technology and the bases of the programs encouraged by bodies like the World Bank, International Monetary Fund and United Nations. It exposes analysis tools during different phases of the process and the effectiveness and efficiency of a PPP for all stakeholders. The set of information submitted, we find the greatest opportunity for Brazil and its federal entities to use technology to solve existing problems in the sanitation sector in particular, although there is limited data for formatting and setting up PPPs.