A fuzzy analytic network process method for risk prioritization in freeway PPP projects: an Iranian case study

Abstract

Risk assessment is one of the most important factors in achieving success in public-private partnership (PPP) projects. Some relationships between risks in freeway projects have been established. The occurrence of each risk can worsen the effects of others such as a negative impact of financial risks on construction risks. This paper is aimed at prioritizing significant risks in freeway PPP projects applying a fuzzy analytic network process (FANP) method for overcoming the problems of interdependencies and feedback among different risk-ranking alternatives. Data on the study have been collected through a literature review, an interview and a questionnaire survey distributed to experts in the field of freeway PPP projects. The obtained results have shown that financial, legal and political risks are the most significant groups, although improper design, changes in the value of granted lands and the termination of concession are the most important risks. The findings help with strengthening the capabilities of developing countries for risk management in freeway PPP projects.