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Due to the geographical and cultural environment factors, there are insufficient considerations in risk management for the Taiwan local construction contractors in bidding Taiwan public works project compared to the international contractors. This study is utilize the literature review, integrated risk management concept, and the project risk management methodology published by project management...
To address the shortage of supply of urban infrastructure, a large amount of private capital is required to participate in construction and operation of the urban infrastructure project. At present, the policy has allowed the private capital to participate in such project through project financing pattern (such as BOT, TOT and PPP, etc.). In order to attract more private capital to participate in...
To properly determine the concession period is one of the most important questions of BOT (Build-Operate-Transfer) projects. Project life and total investment are always pre-given in extant models such as ACM and RCM, which needs more discussion. Social benefit is one crucial factor for a host government to accelerate infrastructure construction by the BOT mechanism, which has been much more concerned...
Carrying out the way of operation with the BT investment building has gradually become a very new and effective model among governmental economic cooperation and enterprise. It has a strong advantage of financial capability, high efficiency of construction, low government risk and higher return on investment, well favor of the government and enterprises, in line with national trends in the implementation...
BT model is widely used in municipal infrastructure construction financing in recent years. The repurchase price of BT project is the core issues between project sponsor and BT investors. Repurchase price consists of two parts: project settlement price and investment income. Return on investment is closely related to bank lending rates, social discount rate and the risk level of investor tolerance...
Selection method of construction agent is the crucial issue in the implementation process of agent construction system in China. At present, selecting construction agent by public tendering appears weaknesses due to the restrictions that brought from imperfect competition in construction agent market. Some domestic regions introduced construction agent list to select construction agent, which can...
As a reformation method for government investment projects in China, government centralized management mode has faced some problems to improve the projects management performance under current project management environment and Institutional innovation is the primary solution. By analyzing the governance structure of centralized management mode, together with transaction costs at different levels...
A new method based on the integration of evidence theory and unascertained measure is put forward for the government investment projects evaluation. The dimensions of index system are reduced by evidence theory. Then, the data of the indexes reduced is input into unascertained measure. Empirical study has shown that the method used in the government investment projects evaluation is feasible and reliable.
The performance auditing of national infrastructure project is the important regulatory measure to improve the project's performance, and risk aversion of audit could improve the auditing's quality effectively. The paper conducted investigation in-depth based on the existing research, designed a set of measuring scale for national infrastructure project performance auditing risk's controllability,...
My Project Istanbul is the name of the Research Fund given by Istanbul Metropolitan Municipality for research projects directed to Municipality related subjects, and carried out by about 22 Universities located in Istanbul. Due to restricted funds, municipality has to be careful about supporting right projects. In this paper, we evaluate the success of completed projects by the help of conducted surveys...
The Agent Construction System (ACS) for government investment project is a primary solution for investment system reformation in China. However, the implementation of ACS has encountered some incentive problems, and the agent construction service pricing mechanism is one of the most important incentive problems. By formulating a primary pricing model be comprised of basic price and incentive price,...
For the government investment project, there is a long-term cooperation between the government principal and the agent enterprise. The incentive model of reputation effect of the agent enterprise was built to solve the long-term reward incentive of the agent enterprise under long-term game. The effort degree of the agent enterprise was analyzed with the influence of the reputation effect, and incentive...
Project portfolios of EU programme organizations typically contain hundreds or even thousands of diverse projects, carried out by public or private organizations each being at a different level of organizational project management maturity. As a result an embedded risk exists regarding the allocation of funds to potential project organizations which could lead to high opportunity costs from not being...
The author studies the methods of second-price sealed bid-auction for choosing participants of the governmental investment construction projects. To introduce the auction model based on secondary price when choosing professional project management companies, will effectively avoid the abnormal phenomenon of "Bad money drives good money out of circulation" in the construction projects, so...
Agent-construction system is an innovative management method for the Chinese government in delivering public project, in which the government client choose a professional company to undertake the managing responsibilities of investment and construction, and hand over to the user party when the project completed. In agent-construction system, the agent (the professional company) implements the developer's...
With the high-speed development of Chinese economy, large and medium-sized engineering projects are developing fast. But their huge investment and high risk cause difficulties in projects financing. BOT project financing becomes an effective method for attracting investment to large and medium-sized projects. This paper puts forward a generalized BOT model concerning the problems of general BOT model...
This paper proposes a new method for valuing a major public investment project. The method allows also the study and determination of the optimal time to begin the investment. Such a project needs long-term investment, requires tools of analysis able to collect and systematize the future uncertainty, which is present in the evolution of the problem variables. Valuation is difficult and must take into...
Public-private partnerships (PPP) are a mechanism for financing large infrastructure development such as transportation projects, hospitals, schools, and public works facilities. In addition, the benefits of PPP stretch well into the realm of engineering management. Most notably, PPPs provide the opportunity for more efficient project management, proficient risk mitigation, and enhanced technological...
At first the risk in infrastructure project is analyzed in the paper, and as a good path the project insurance is put forward for transferring latent risk. Then the relationship between the option and insurance industry is revealed, the intrinsic value of insurance risk options is studied, the feasibility of the insurance options and the characteristics of the options products are analyzed,. At the...
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