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- W2181391949 abstract "This project investigates critical success factors in public-private partnership (PPP) projects for infrastructure development in South Africa. PPPs provide governments across the globe with opportunities to develop public infrastructure through collaboration with private sector partners. The advantage for the public sector partners is that they are able to access resources they do not have in-house. PPPs also provide governments with opportunities to share risks with private partners. To ensure that PPPs are implemented successfully, an environment that is attractive should be created. The South African PPP environment is lagging behind those in the developed economies, although it is developing at a faster rate, and this is demonstrated by the results from this research in comparison to previous investigations. The first projects using PPP approach were over 12 years ago, and were subject to a number of research studies such as Fourie (2008), Hlala (1999), and Ahwireng-Obeng and Mokgohlwa (2002). Critical success factors (CSFs) were investigated in these studies, and those factors were also tested in the current research to demonstrate how the environment has changed in South Africa. This research was therefore an exercise to test critical success factors applicable in both developed and developing economies for the South African environment. The sample was therefore South African based, targeting individuals who had experience in PPP projects, both as participants and who work in sectors that have a strategic interest in PPP infrastructure projects. These sectors include energy, transportation, mining, and financial services. A survey questionnaire was distributed with sections that included demographic profiles of respondents, 20 critical success factors to be ranked on the level of importance and the last section requested respondents to respond to three open questions. Three critical success factors were found to rank significantly higher than the mean, in terms of their importance: (1) project technical and financial feasibility, (2) strong contract management control to ensure contract compliance, and (3) a strong and experienced private consortium with technical strengths. These factors highlight a shift from the findings of earlier studies, in which external factors such as macro-economic factors or political stability were more important. The other key finding came through the open questions, where the respondents unanimously shared a view that PPPs are central to the future of infrastructure development in South Africa as they allow the government to overcome challenges such as skills shortage and budgetary constraints by using private sector resources. The three factors clearly demonstrate that the South African environment shares similar challenges with those in developed economies. It is therefore a challenge for primary stakeholders in both the public sector and private sector to align their objectives and ensure that a feasibility analysis is conducted before committing to a PPP project, put a management system in place for the full project life cycle, and pay attention to screening processes when forming a consortium. These steps will ensure that the private sector has resources; both financial and technical skills to deliver the projects; and that the public sector sets clear objectives and is able to hold the private sector accountable, and prevent unforeseen escalating capital and operational costs." @default.
- W2181391949 created "2016-06-24" @default.
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- W2181391949 date "2014-01-01" @default.
- W2181391949 modified "2023-09-27" @default.
- W2181391949 title "Analysis of critical success factors for public-private partnerships in infrastructure development in South Africa" @default.
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