Evaluation of PPP projects in Australia and India: An Information Asymmetry Perspective

Devkar, G; Sankaran, S; Ke, Y

Evaluation of PPP projects in Australia and India: An Information Asymmetry Perspective

Devkar, G Sankaran, S

Ke, Y

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Publication Type:: Conference Proceeding
Citation:: Accelerating Development: Harnessing the Power of Project Management, 2017, pp. 225 - 234
Issue Date:: 2017

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	PMI RAC 2017 Paper on PPP Devkar, Sankaran & Ke 2017.pdf	Published version	1.89 MB	Adobe PDF	View/Open

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Field	Value	Language
dc.contributor.author	Devkar, G	en_US
dc.contributor.author	Sankaran, S https://orcid.org/0000-0001-5485-6216	en_US
dc.contributor.author	Ke, Y https://orcid.org/0000-0003-3426-703X	en_US
dc.contributor.editor	Ayer, KC	en_US
dc.contributor.editor	Deshmukh, SG	en_US
dc.contributor.editor	Sawhney, A	en_US
dc.contributor.editor	Saha, R	en_US
dc.contributor.editor	Singh, SP	en_US
dc.date	2017-03-02	en_US
dc.date.issued	2017	en_US
dc.identifier.citation	Accelerating Development: Harnessing the Power of Project Management, 2017, pp. 225 - 234	en_US
dc.identifier.uri	http://hdl.handle.net/10453/93169
dc.description.abstract	Public private Partnership (PPP) model has been widely used for infrastructure delivery across the globe. However, the practice of PPP indicates mixed results, showing on the one hand, much hyped and glorified success on model PPP projects, while on the other hand failed and jinxed PPP projects also exist. This scenario stresses the need to identify and analyse the reasons behind the divergence of the PPP model from its much expected theoretical benefits. In this context, a research study was undertaken evaluate failed PPP transportation projects in Australia and India with the primary focus to understand why these projects failed to attain the expected theoretical benefits. In this paper, we evaluated six PPP projects through the theoretical lens of "information symmetry" – as provided by principal agent theory. We adopted the qualitative research methodology for this study involving collection and analysis of secondary data pertaining to these PPP projects. the findings show that the information asymmetry during the procurement stage of PP projects manifests into problems like adverse selection, total hazard and hold up. These problems are very evident at the procurement stage but have been neglected and sidelined by the government, financiers and decision makers. We conclude this paper with various propositions that have to be verified with further in-depth research procedure.	en_US
dc.relation.ispartof	Accelerating Development: Harnessing the Power of Project Management	en_US
dc.relation.ispartof	PMI India Research & Academic Conference	en_US
dc.title	Evaluation of PPP projects in Australia and India: An Information Asymmetry Perspective	en_US
dc.type	Conference Proceeding
utslib.location.activity	Indian Institute of Technology Delhi	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/e-Press
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
pubs.organisational-group	/University of Technology Sydney/Strength - CCDP - Contemporary Design Practice
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.finish-date	2017-03-04	en_US
pubs.start-date	2017-03-02	en_US

Abstract:

Public private Partnership (PPP) model has been widely used for infrastructure delivery across the globe. However, the practice of PPP indicates mixed results, showing on the one hand, much hyped and glorified success on model PPP projects, while on the other hand failed and jinxed PPP projects also exist. This scenario stresses the need to identify and analyse the reasons behind the divergence of the PPP model from its much expected theoretical benefits. In this context, a research study was undertaken evaluate failed PPP transportation projects in Australia and India with the primary focus to understand why these projects failed to attain the expected theoretical benefits. In this paper, we evaluated six PPP projects through the theoretical lens of "information symmetry" – as provided by principal agent theory. We adopted the qualitative research methodology for this study involving collection and analysis of secondary data pertaining to these PPP projects. the findings show that the information asymmetry during the procurement stage of PP projects manifests into problems like adverse selection, total hazard and hold up. These problems are very evident at the procurement stage but have been neglected and sidelined by the government, financiers and decision makers. We conclude this paper with various propositions that have to be verified with further in-depth research procedure.

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http://hdl.handle.net/10453/93169