Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/31537
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dc.contributor.authorXu, Yen_US
dc.contributor.authorSun, Cen_US
dc.contributor.authorSkibniewski, MJen_US
dc.contributor.authorChan, APCen_US
dc.contributor.authorYeung, JFYen_US
dc.contributor.authorCheng, Hen_US
dc.date.accessioned2015-04-29T07:26:09Z-
dc.date.available2015-04-29T07:26:09Z-
dc.date.issued2012-
dc.identifier.citationInternational journal of project management, 2012, v. 30, no. 2, p. 240-251en_US
dc.identifier.issn0263-7863-
dc.identifier.urihttp://hdl.handle.net/10397/31537-
dc.description.abstractThe design of concession price is essential to financial viability of Public-Private Partnership (PPP) highway projects. It is one of the most important variables that need to be determined during the negotiation period. However, there are few methods available for calculating the value of this variable. Research described in this paper aims to develop a reliable, objective, and systematic model for determining a rational concession price for PPP highway projects based on pro forma financial statements developed during the feasibility study period. The pricing parameters and price risk factors of PPP highway project were first identified and compiled through a comprehensive literature review. A concession pricing model using System Dynamics technique was then developed based on concession pricing parameters and the effectiveness of the proposed SD-based concession pricing model was verified by a real toll tunnel project located in China. The test result shows that the proposed model is reliable, accurate, and suitable for the application by practitioners for concession price determination. To overcome the effect of risk factors on concession price, a pricing adjustment model using Case-base Reasoning (CBR) technique was proposed to consider the unquantifiable risk factors. It is believed that a rational and practical concession pricing model can create a 'win-win' situation for both the private investor and the host government. This research framework can also be used as a reference to study other facilities' pricing models.en_US
dc.description.sponsorshipDepartment of Building and Real Estateen_US
dc.language.isoenen_US
dc.publisherPergamon Pressen_US
dc.relation.ispartofInternational journal of project managementen_US
dc.subjectCase-base Reasoningen_US
dc.subjectConcession pricingen_US
dc.subjectHighwayen_US
dc.subjectPublic-private partnershipen_US
dc.subjectSystem dynamicsen_US
dc.titleSystem Dynamics (SD) -based concession pricing model for PPP highway projectsen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage240-
dc.identifier.epage251-
dc.identifier.volume30-
dc.identifier.issue2-
dc.identifier.doi10.1016/j.ijproman.2011.06.001-
dc.identifier.isiWOS:000300136900009-
dc.identifier.scopus2-s2.0-84655169586-
dc.identifier.eissn1873-4634-
dc.identifier.rosgroupidr59614-
dc.description.ros2011-2012 > Academic research: refereed > Publication in refereed journal-
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