ABSTRACT
This chapter explains the reasons, success factors and value for money measures behind public-private partnership (PPP) projects. The top reason for implementing PPP projects ranked by respondents from Hong Kong was ‘Private incentive’. Obviously practitioners around the world can foresee the advantages of involving the private sector in conducting public works projects. In Australia and the UK this reason for implementing PPP projects was ranked lower at fourth and ninth place respectively, indicating that those respondents did not feel so strongly about involving the private sector for its added value. Due to the size, complexity, challenges and long concession period of PPP projects, they tend to be limited to being conducted only by very large private sector companies. The reason ‘Private incentive’ was attractive because of the added value which could be applied to public works projects by the private sector. Appropriate governing rules, regulations and reference manuals related to PPP have been well established in some developed countries.
