Public-private partnerships: Critical factors for procurement of capital projects

Looking for innovative approaches towards procurement of projects through public-private partnerships has become more common in the public sector which has the largest capital project spending. It is used to improve efficiency in the procurement of projects and get more value for money. The critical success factors in public-private partnerships for procurement of capital projects identify factors contributing to the successful procurement of capital projects which is seen as one of the many management practices that contribute to corporate success. A model based on an analytical hierarchy process was developed to investigate the critical success factors using information from owners, project managers, consultants/contractors, financiers and operators worldwide for procurement of capital projects. Owner satisfaction with the delivered project, clearly defined project mission, objective and scope definitions, adequacy of plans and specifications, lack of legal encumbrances, and appropriate funding mechanisms were shown to be the topmost of the success factors.