A risk allocation model among the elements of freeway projects in public-private partnership (PPP) method using integrated fuzzy multi-criteria decision-making techniques

ABSTRACT

In the present study, an appropriate risk assessment and allocation model was developed between the various elements of PPP based infrastructure projects. For this purpose, after a review of the research literature and identification of the most important risks, with a case study on PPP-based freeway projects in Iran, a systematic model for risk assessment using fuzzy MCDM methods including FAHP has developed in order to critical risk assessment (Objective 1), FTOPSIS Identification of Common Risks in PPP Transportation Projects (Objective 2) and FDEMATEL for Allocation and Impact of Risk Between Different Project Elements (Objective 3). The results of risk analysis by FAHP method showed that economic and financing, construction and operational risks have the greatest impact, respectively. In addition, the results of FTOPSIS method showed that projects Isfahan-Shiraz Freeway, Salafchegan-Arak Freeway and Khorramabad-Arak Freeway, respectively, were more affected by risks. Finally, the results of FDEMATEL analysis show the degree of interaction and impact strength of risks for each risk and from the perspective of each project manager, which indicates a significant relationship between different risks. The results of this research can be used as a management model in the process of evaluation and risk management of PPP projects.

KEYWORDS:

• Risk assessment model
• risk allocation
• public-private partnership (PPP)
• freeway projects
• integrated fuzzy multi-criteria decision making techniques

Disclosure statement

No potential conflict of interest was reported by the author(s).