Open AccessThe implementation of public-private partnership models in road engineering
Author(s) -
Miloš N. Mladenović,
Draženko Glavić,
Marina Milenković
Publication year - 2021
Publication title -
put i saobraćaj/put i saobraćaj
Language(s) - English
Resource type - Journals
eISSN - 2406-1557
pISSN - 0478-9733
DOI - 10.31075/pis.67.03.02
Subject(s) - general partnership , public–private partnership , negotiation , key (lock) , business , process (computing) , quality (philosophy) , investment (military) , transport engineering , finance , risk analysis (engineering) , computer science , engineering , computer security , philosophy , epistemology , politics , political science , law , operating system
Investment in road infrastructure, i.e. its construction and maintenance, requires significant financial resources. When it comes to undeveloped and developing countries with limited funds, the available resources must be exploited in the most rational manner while obtaining the maximum benefits. One of the possible solutions is a public-private partnership (PPP) model. This paper analyzes different examples of applying PPP models in road engineering and their different rates of success. The analysis highlighted several key factors for the success of road infrastructure designs financed according to a PPP model. The key factors involve the appropriate traffic flow prediction, high-quality design process and construction cost prediction, the public partner’s decisive and strong attitude in negotiation with the private partner, as well as the contract based on positive regulations and containing thoroughly defined obligations of all parties. The conducted analysis should help decision-makers when making decisions regarding the selection of the appropriate PPP model in road design.