Best practice for financial models of PPP projects

Fredy Kurniawan*, Sri Wiwoho Mudjanarko, Stephen Olubodunwa Ogunlana

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

33 Citations (Scopus)
387 Downloads (Pure)


Public-private partnership (PPP) project's arrangement involves many participants with complex transactions and diverse interests at 5 different project stages. Especially in the project financing perspective, this arrangement creates the entire project evaluation process prone to take an extensive period before reaching financial closure. The importance of utilizing financial model as a tool for project evaluation and negotiation is highlighted in this study. 26 input assumptions and 16 output variables have been identified through comparison study of three PPP financial models, and their significances were verified based on pilot studies in India and the UK and expert opinion solicited worldwide through a structured questionnaire survey. SPSS program was used to evaluate the survey responses. The best practice PPP financial model was identified quantitatively by the agreement of four groups of stakeholders (i.e. sponsors, authorities, lenders, and consultants) upon the most preferred financial input and output indicators.

Original languageEnglish
Pages (from-to)124-132
Number of pages9
JournalProcedia Engineering
Publication statusPublished - 23 Nov 2015
Event5th Euro Asia Civil Engineering Forum Conference 2015 - Petra Christian University Indonesia, Surabaya, Indonesia
Duration: 15 Sept 201518 Sept 2015


  • Public-Private Partnershi
  • Stakeholders
  • Financial Model


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