Critical Risk Factors Identification And Analysis For Public Private Partnership Waste-to-energy Incineration Projects

Due to the long concession period,various participants involved,external uncertainties and other factors,PPP WTE incineration projects face more risks than traditional public projects.Meanwhile,the PPP WTE incineration project in China is in its infancy,the practice experience is insufficient and there isn't clear and reasonable understanding of the risks in the field.Increased risk factors and the poor risk management practice have led to frequent risk events,which resulted in many incineration projects failing to reach their expected performance.Therefore,identifying the risk factors during the construction and operation of PPP WTE incineration projects is of great significance for the sustainable development of PPP WTE industry in China.Based on data drawn from the Internet and some relevant documents originating from authorities such as governments and operators,critical risk factors(CRFs)affecting PPP WTE incineration projects are identified and analyzed by using literature review,multiple case study and Delphi.First,the risk factors checklist for PPP projects is established by using the extensive literature analysis;then,using multiple case study and Delphi,risk factors affecting PPP WTE incineration projects in China are identified by drawing on experience from the real-life risk events of 35 PPP WTE incineration plants;moreover,critical risk factors affecting PPP WTE incineration projects are selected from the 18 identified risk factors by a questionnaire survey and the risk significance index(RSI)scores;finally,response strategies and policy recommendations are presented.18 risk factors are identified in the multiple case studies,and the most critical of which being public opposition,environmental pollution,government decision-making risk,lack of supporting infrastructure,and government credit.The results of the study provide a solid foundation for the future risk analysis,risk allocation and risk response of PPP WTE incineration projects,and shed light on performance improvement of PPP WTE incineration projects as well as the development of the PPP WTE industry in China.