Effective Risk Allocation In Public Private Partnership (PPP) Projects In Singapore

Literature Review

Public private partnerships (PPP) are now very common in many projects where collaboration of private and public sectors occur. Owing to its effectiveness and benefits, many countries including Singapore have adopted this cooperative arrangement for most of the projects. However, in spite of the benefits and effectiveness, there are the risks in the projects that need to be allocated effectively for assessment, evaluation and finally mitigation (Chou and Pramudawardhani 2015).

It is often seen in case of risk events that one party avoids the risk by saying the other party is responsible for the risk event. In these cases, the risks are not appropriately mitigated and the terms of contract between the public and private sectors are broken resulting in dissolution of the partnership often leading to failure of the project. Hence, it is evident that allocation of risks to the responsible party is a critical success factor behind the public private relationships in the projects.

Public private partnership is a mutual agreement between a private sector and a public sector like the government in order to execute a project where one sector is able to utilize the other’s sector’s resources, e.g. the public sector can utilize skilled human resources from private sector while the private sector can utilize monetary resources from the public sector (Osei-Kyei and Chan 2015). Hence, in PPP projects, both the sectors are interdependent on each other.

In Singapore, PPP is now a widely accepted project management strategy and is utilized in numerous industries and fields around the country. This particular study is focused on the PPP strategy utilized in Singapore and to find solutions regarding the allocation of risks to respective parties in order to effectively manage and resolve the risk events and ensure the success of the projects.

1.1  Problem Statement

The main problem regarding this particular topic involves the allocation of risks to the responsible party in a PPP project. Often during a risk event, confusion arises regarding who is responsible for handling and managing the particular risk.

1.2  Research Questions

 The research questions developed for this particular topic are listed as follows.

• What are the critical success factors in PPP projects?
• How can the risks be allocated to responsible authority in order ensure success of PPP projects?

1.3  Research aim and objectives

The primary aim of this research is to explore PPP project in Singapore and how efficient allocation of risks to respective sectors in the project can be decisive and crucial success criteria in the project.

The objectives of the project are hereby developed as follows.

• To analyse and identify the main risks that continue to occur in the PPP project specific to Singapore
• To analyse the existing techniques that are adopted for the allocation of risks in Singapore PPP projects
• To conduct literature survey regarding risk allocation in PPP projects
• To determine the critical success factors in PPP projects
• 1.4  Research Methodology

The initial part of the research is mainly based on literature review to get a grip on the chosen research topic. However, only literature review is not sufficient for the research as some in depth analysis on the current situation needs to be conducted. Hence, it is also important to collect some primary data from the industry itself in order to conduct the research. For this purpose, a questionnaire based survey will be conducted that will be filled by some project managers of the industry who have taken part in PPP projects. The data collected from this survey will provide sufficient insight on the chosen topic.

Research Methodology

.5  Thesis structure

This particular research report consists of six main chapters that address different aspects of the project. The contents of each chapter are explained below.

Chapter 1: Introduction

This is the introductory part of the assignment that presents to the reader an overall summary and background of the chosen topic. First, it explains the research area that will be analysed and why it is important to explore this particular research area. The reader effectively gets an overall idea about the topic as well as the contents of this particular report. Secondly, this section focuses on the problem statement i.e. the problem area that will be explored in this research in order to find a suitable solution.

Following this part, this chapter focuses on developing research questions that need to be answered at the end of the research. Unless these research questions are answered or contradicted with valid proofs, the research will not be completed and will need to be pursued further subject to approval of the research supervisor. Next, the research aims and objectives are developed that educates the reader regarding the final goal of the research as well as the objectives that needs to be fulfilled throughout the course of the research. The final section of this chapter discusses briefly about the research methodology that will be followed during the course of the research.

Chapter 2: Literature Review

This chapter is mainly focussed on the literature review of the topic of the research. Literature review is mainly required to gather knowledge, understanding and some data regarding the field of research. Thus literature review helps to develop a particular research roadmap that can be followed throughout the course and also to develop the base of the research. In this particular report, for the purpose of literature review, 15 peer reviewed journal articles have been chosen in which the researchers have done considerable work on the topic of PPP projects and the risk allocation strategies used in these projects. The works of these researchers have been analysed in detail including the common factors and contradictions by comparing the works. From the analysis of the literature, sufficient amount of data will be collected that will help to verify and analyse the primary data that will be gathered during the data collection phase of the research.

Chapter 3: Research Methodology

This chapter mainly deals with the method to be followed during the course of the research. In the introductory section, there was a methodology section but in the section, the methodology was only discussed in a summary form. However, in this chapter, the methodology followed in the research is discussed in detail. In this chapter, the research method has been described in detail including the justifications as to why this method was chosen and how it will benefit the research. In addition to the research methodology, a separate section is provided that mainly discusses data collection method. This section includes what type of data will be collected, how the data will be collected and how the collected data will benefit the research.

Research Findings

Chapter 4: Research Findings

This chapter deals with the findings gathered during the entire research phase. The findings include the data collected, analysis results and other information gathered throughout the course of the research.

Chapter 5: Discussion

This chapter mainly includes the discussion of all the results gathered in the research findings. In the discussion, the data analysis results, the research questions, the research topic and other relevant information are discussed and it is determined whether the research questions are addressed by the collected data.

Chapter 6: Conclusion

This chapter concludes the entire research by summarizing the overall research, the initial research objective and the final results that were used to answer the research question(s).

 Literature Review

.1  PPP Projects: Implementation and Success: Global Context and Singapore

According to the works of Wang and Liu (2015), PPP projects are widely recognized and popular projects in different countries around the world. The concept of PPP was first developed in around 1990 and in the next 20 years, as per the researchers’ findings, there were around 1400 reported PPPs completed with an estimated value of over €260 billion. Furthermore, since the start of 21^st century, it has been reported that for infrastructure investment involving PPP projects, $64 billion has already been spent. The authors have however noted that not all countries have been able to implement PPP projects with success due to lack of sufficient knowledge or management regarding the public private partnership in projects.

Sastoque, Arboleda and Ponz (2016) conducted research in South East Asia, especially in countries like Thailand, Hong Kong, Indonesia, Singapore and others. According to the authors, PPP has faced less success rate in Thailand whereas it has faced more success in Hong Kong. According to the authors, the main reason is that in Thailand, there have not been adequately managed risks and there were not sufficient trust between the public and private sectors. On the other hand, PPP projects were executed without fail in Hong Kong without any major issues or reported project failures.

Hwang, Shan and Supa’at (2017) focussed their research on PPP projects in UK and have reported that PPP projects have been the most successful in UK than any other countries in the world. According to the authors, UK mainly utilized PPP projects for major infrastructure development and in the last 15 years, PPP projects have been the source of 11% of the total expenses that the UK government had to face.

Among the countries in South East Asia, Zhao, Hwang and Gao (2016) reported that Indonesia has been successful in making most investments in PPP projects that also have a very high success rate. The study also states that around 27% of all investments in PPP projects in East Asia have come from Indonesia.

Xiong et al. (2017) studied PPP projects in Singapore and noted that the first PPP project in the country started with the construction of a desalination plant. The author also noted that the government of Singapore actively supported the implementation of PPP projects in the country and also released a number of handbooks regarding guidelines for taking part in PPP. As per the author, from the PPP projects, both the private and public sectors gained significant amount of benefits in Singapore.

Discussion

Babatunde et al. (2016) found out during their research regarding PPP projects that the stakeholders play major roles in efficient risk allocation and management. In the PPP projects, generally there are a large number of stakeholders and stakeholder groups who are appointed from both the public and the private parties. Each of the stakeholders or stakeholder groups is assigned with specific duties and roles that also include taking initiatives during some risk events.

If the stakeholders do not have sufficient idea regarding the allocation and management of the risks, the risk allocation process will not be successful. During the planning of the project, some agreements are generally developed between the two parties that both sign to agree by during the entire course of the project. While reaching this agreement, the stakeholders are to be informed about the expected types of risks that may be faced during the project and what actions they need to take by allocating these risks to the respective parties in the project.

Hwang, Zhao and Chin (2017) researched about the PPP projects and mainly focussed on critical success factors involved in such projects. According to the researchers, most of the project managers in PPP follow specific CSF (critical success factor) models in order to execute the project. The benefit of this approach is that based on the critical success factors, realistic targets can be set before the project is being executed. In the initial days of PPP projects, the project managers mainly developed CSFs on their own before making final plans for the project. For the current managers in project, especially in Singapore, the CSFs are built and based on previous usage and success rates in other projects.

2.2  Risk Allocation and Critical Success Factor in PPP Projects

Several researchers focussed specifically on the topic of risk allocation in PPP projects. According to the works of Xu et al. (2015), one major problem related to the PPP projects is the allocation of the risks. As per the study made by the authors, it is stated in most of the initial and failed PPP ventures, due to lack of policies regarding risk allocation processes, the two parties blamed each other for risks and issues instead of sharing duties to solve the risks. Moreover, the two parties did not trust each other resulting in the growth of such conflicts.

Nguyen and Garvin (2016) discussed about various types of risks and the need for allocating these risks to the partner parties based on their field of expertise and feasibility of solving the risks. The authors have worked on identifying the categories of risks that result in delays in different PPP projects. The eleven risk categories that have been identified by the authors include Politics, Macroeconomics, Social, Legal, Natural, Design, Financial, Project Selection, Operation, Construction and Relationship. These categories of risks have also been discussed and explained by other researchers as they tried to evaluate the effects of these risks on the PPP projects.

(Osei-Kyei and Chan 2017) discussed about the operational risks that may be encountered during the course of the project and the allocation of such risk in the PPP projects. During the execution of a project, there may be several operational risks that may occur from both ends i.e. the private or the public sector. When the operational risk occurs from one end, it can be easily identified and allocated for mitigation. However, when the operational risks occur from both ends, sufficient planning is necessary in order to ensure the risk is managed and addressed.

Conclusion

Again, in some cases, when a private party is working on a project in partnership with the public party, there may occur an operational risk that cannot be solved by the private party due to limitations of budget, resources and others. In this case, the risk must be allocated to the public party for mitigation. Hence, in order to avoid these types of situations, these risks are to be identified early using suitable risk management planning so that there is a proper agreement between the two parties regarding the allocation and management of the risks.

Of all the categories of risks, Ameyaw and Chan (2015) discussed about the severity of political risks that seriously hamper the projects if suitable actions are not taken. The authors noted that in various countries, the project partnerships are often affected by political corruptions. Since the political factor is mainly associated with the public sector, the private party is mostly affected by this issue that also results in delay or even cancellation of the project. One way to solve this issue is to ensure both the parties come to a mutual agreement that is feasible for both the parties. Thus, this risk should be allocated on a shared basis so that both the parties can solve the issue together.

Shen  et al. (2016) discussed about other risk categories like social, legal, natural and design in which, the author stated that the respective parties must take responsibilities in order to address the risks instead of creating dispute over who should be responsible for the occurrence of the risks. For instance, the design risk should be allocated to the private party whereas the social risk will have to be allocated to the public sector. Again, there are certain risks that cannot be managed by one party alone. In this case, both the parties should take equal responsibilities and prepare suitable mitigation plan together to address the risks.

In their works, authors Shrestha et al. (2018) researched about critical success factors that are associated with the PPP projects. In addition to Singapore, the authors conducted their research in some other countries and determined several critical success factors (CSFs) that have affected the projects. According to the authors, these CSFs must be managed on the top priority in order to ensure the project is completed with success.

While some of the researchers as well as the project managers already consider risk allocation as a CSF for a PPP project, Likhitruangsilp, Do and Onishi (2017) investigated more to prove the importance of risk allocation behind the success of the projects. According to these authors, PPP projects are driven forward by the cooperation and mutual agreement between the public and the private parties. However, it is common in most of the cases that due to some dispute or lack of agreement between the two parties, the project is delayed significantly. These delays not only result in missing the deadline for project delivery but also cause loss of huge amounts of funds for both the parties. Hence, it is important to establish a final agreement that must cover all the critical success factors including the problem of risk allocation.

According to Wang, Liu and Hwang (2016), in all the current PPP projects, the works are not initiated until a contract is signed between both the parties. The authors suggested that identification of the risks associated with the project must be done prior to the preparation of the contract. Based on all the risks identified for the project, the two parties should meet together discussing how these risks should be allocated and how these risks will be managed. These will be included in the contract that will be signed later by both the parties.

2.3  Summary

From the literature review, several main perspectives have been collected regarding risk allocation in PPP projects. While the primary aim of the research was to explore the risk allocation processes in PPP projects in Singapore, the literature review has provided sufficient insight on the risk allocation process as well as its importance in PPP projects. It has been found that in PPP projects, there are a large number of possible risks that need to be avoided at any cost. In many such PPP projects studied, delays occur due to conflict between the parties regarding risk management duties and may even lead to failure of the entire project.

Hence, risk allocation is important to ensure there is sufficient coordination between the public and the private parties. As per the analysis of literature, it has been found that there are roughly eleven categories of risks that include different types and effects of risks. Among these eleven categories, the public party should take responsibility for some risks, the private party should take responsibility for some risks and the rest will be addressed together by both the parties.

Research methodology is a framework that is followed for the execution of a research. The selection of the research methodology depends upon the field of research and the type of data required in order to address the research questions. In addition to the type of data required for the research, the research methodology also helps to work within the scope of research and avoid any research related problems and errors (Mackey and Gass 2015). There are several existing theories and concepts related to the selection and types of research methodologies that help in developing a more detailed insight regarding the project topic. However, selection of wrong methodology for a particular research may also lead to some common errors and issues that should be avoided. Hence, it is important to select the most appropriate research methodology before proceeding to the research.

3.2  Research Method

A particular research method is chosen based on the requirement of the research and the nature of the research topic chosen. Research onion is a useful tool in this regard and can be used to determine the main divisions within the research that will be conducted based on the given topic. A research onion is broadly classified into six main categories that include approach, philosophy, choice, strategy, time horizon, technique and procedure (Taylor, Bogdan and DeVault 2015). An overall research methodology, irrespective of its type, should include all these categories and hence, during the documentation of the research methodology, each of these categories must be explained in detail.

A research onion also helps to determine several other related methods for the research that include research philosophy, research approach and research design.

3.2.1    Research Philosophy

Research philosophy is generally utilized to determine the nature of work required to collect data for the research. There are several different philosophies that explain different methods of collection and selection of data for research. It is to be noted that selection of the appropriate research philosophy is essential depending on the nature of research topic and without sufficient alignment of philosophy with the topic, the research may fail in the long run. There are three main research philosophies that are followed in various researches: positivism, realism and interpretivism. Positivism is a subject of philosophy that is used to determine some hidden facts from collected data following a scientific approach (Taylor, Bogdan and DeVault 2015).

In spite of being a scientific approach, positivism does not include metaphysics and allows the researcher to conduct detailed investigation of the data for gathering in-depth knowledge of the topic. Interpretivism is an approach related to epistemology and is mainly used for research in the field of business and management activities (Mackey and Gass 2015). This philosophy uses concepts of natural laws to define any particular issue or topic and also allows the researcher to interpret the research data in such a way that it suits the overall topic or nature of the research. Realism is a philosophy that is a mixture of both positivism and interpretivism. This particular approach has the characteristics of both and allows the researcher to analyze human beliefs and interaction of human beings with the realities considered in the research.

In this particular research, positivism philosophy is followed in order to determine the facts regarding risk allocation in the PPP projects in Singapore (Lewis 2015). This is mainly because this research demands collection of various facts related to the critical success factors of the PPP projects and the risk allocation process followed by the various organizations participating in PPP projects. Since there is no specific rule or guideline followed regarding risk allocation in PPP projects in Singapore, it is important to determine the hidden facts and the actual rules or guidelines followed by the parties involved in such projects. Hence, positivism will be the most realistic and useful philosophy for this particular research.

3.2.2    Research Approach

Research approach follows the research philosophy and enables the researcher to develop a particular framework that he will follow throughout the course of the research. There are two major research approaches that are mainly followed – inductive approach and deductive approach. Inductive approach is chosen by the researchers when there is not sufficient data available on the particular data. In that case, using the data collected, the outcomes are developed based on observation and inductive ideas. Deductive approach involves the use of general theories and specifications to deduce a particular outcome of the research (Flick 2015). Deductive approach also assists the researcher when he aims to develop a theory or a set of theories based on this research topic using the data he collected from the entire research.

In this particular research, deductive approach will be followed. During the analysis of PPP projects in Singapore and the risk allocation methods followed, sufficient amount of data will be collected (mainly from literature review and primary data collection). Based on the analysis of data, the research outcome will be deduced and relevant theory can be developed regarding risk allocation in PPP projects in Singapore.

3.2.3    Research Design

Similar to research philosophy and approach, research design is also of different types and the appropriate research design is chosen based on the nature of research. Three main research designs that are mainly followed by researchers include exploratory, explanatory and descriptive research designs (Taylor, Bogdan and DeVault 2015).

Exploratory research design mainly explores various types of data, theories and information regarding the research topic in order to develop an overall framework of the research outcome.

Explanatory research design tries to explain the occurrence of events or incidents that have been recorded during the research process until the final research outcome is reached or a hypothesis is developed to solve the research questions.

Descriptive research design uses both exploratory and explanatory approach to explain the causes and occurrences of the specific events and incidents with proper description and justification backed up by suitable evidences from the literature (Mackey and Gass 2015).

The process of risk allocation in PPP projects in Singapore needs to be explored to collect suitable data that will be used to answer the research questions. Explanatory research will not be applicable as there are no specific events or incidents in this topic. Hence, the most suitable research design that will be applicable for this research is exploratory research design.

3  Data collection

For the aid of the research, data collection is an important requirement. Within the field of research, data is collected from various sources that will validate or contradict the proposed research hypothesis. Based on the nature and type, data is generally classified into two different types: primary data and secondary data. Primary data is the one that the research collects by himself through various techniques like analysis, interview, questionnaire survey and others. On the other hand, secondary data is the one that the researcher gathers from other’s works and already existing data published in various reports, journals and others.

For this research on risk allocation in PPP projects in Singapore, primary data collection will be conducted. This is mainly because there is not sufficient previous documentation or published statistics regarding the same research topic and hence, secondary data collection is not possible (Taylor, Bogdan and DeVault 2015). As a part of the primary data collection process, a questionnaire survey will be conducted on a number of project managers and organization chiefs who have taken part in PPP projects in Singapore in order to determine the risk allocation processes followed by them.

Data is also classified into two main categories depending on their type and use. These two categories are qualitative and quantitative.

Qualitative data mainly includes information that is not statistical in nature and cannot be measured using any parameters. It deals with the qualities of a particular object and is mainly explanatory in nature.

Quantitative data includes statistical information that can be measured using specific quantities and parameters (Silverman 2016). This type of data is used when a certain quantity or amount is needed to be determined during the course of the research.

In this research, a questionnaire survey will be conducted on a sample size of 50. In this questionnaire, although the data is collected in quantities, mainly qualitative data will be collected. This research is based on the analysis of risk allocation in PPP project in Singapore in which there is no scope of analysing quantitative or measurable data.

3.4  Data analysis

Data analysis is required in order to reach a suitable outcome in the research. This research mainly deals with the primary data as data will be collected through questionnaire. The questionnaire will be distributed among 50 project managers who were involved in PPP projects at some points in their careers. In addition to this data, some secondary data will also be collected from organizational reports from which, suitable conclusions can be reached regarding the research topic and focus.

3.5  Research Timeline, Team, Resource and Cost

The entire research will be conducted within a specific timeline so as to ensure the research is started at the right time and completed within the pre-set deadline set by the supervisor. Moreover, due to the large number of activities in the project, the work packages must be allocated within the team members (research associates) so that the overall time period for the research is reduced considerably (Taylor, Bogdan and DeVault 2015). Moreover, there should also be considerations for resources required for the research and various costs involved in the entire research. Accordingly, a timeline has been developed for the entire research that also includes allocation of duties to the team members, resources required in different work packages of the research and the associated costs. The timeline is shown as follows.

Task Name	Duration	Start	Finish	Predecessors	Resource Names	Cost
Research Timeline for Studying Risk Allocation in PPP Projects in Singapore	86 days	Mon 04-06-18	Mon 01-10-18			$5,986.00
Topic Selection and Discussion	11 days	Mon 04-06-18	Mon 18-06-18			$1,040.00
Receive Approval to Select a Topic for Research	1 day	Mon 04-06-18	Mon 04-06-18		Research Supervisor	$400.00
Select a Field of Research	1 day	Tue 05-06-18	Tue 05-06-18	2	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Consider a Number of Topics for the Research	1 day	Wed 06-06-18	Wed 06-06-18	3	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Consider the Scope of the Topics	1 day	Thu 07-06-18	Thu 07-06-18	4	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Analyze Feasibility of the Topics	1 day	Fri 08-06-18	Fri 08-06-18	5	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Select a Particular Research Topic	1 day	Mon 11-06-18	Mon 11-06-18	6	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Get the Topic Approved by Supervisor	1 day	Tue 12-06-18	Tue 12-06-18	7	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Prepare Research Proposal	1 day	Wed 13-06-18	Wed 13-06-18	8	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Submit Research Proposal	3 days	Thu 14-06-18	Mon 18-06-18	9	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$192.00
Receive Approval to Proceed for the Research	0 days	Mon 18-06-18	Mon 18-06-18	10	Research Supervisor	$0.00
Research Planning	10 days	Tue 19-06-18	Mon 02-07-18			$640.00
Develop the Overall Scope of the Research	1 day	Tue 19-06-18	Tue 19-06-18	11	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Develop a Work Breakdown Structure for the Entire Research	1 day	Wed 20-06-18	Wed 20-06-18	13	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Develop a Research Schedule Using Gantt Chart	0.5 days	Thu 21-06-18	Thu 21-06-18	14	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$32.00
Allocate Duties to the Team Members	0.5 days	Thu 21-06-18	Thu 21-06-18	15	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$32.00
Prepare Resource Plan	2 days	Fri 22-06-18	Mon 25-06-18	16	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$128.00
Request Funds from Supervisor	1 day	Tue 26-06-18	Tue 26-06-18	17	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Determine Research Methodology	0.5 days	Wed 27-06-18	Wed 27-06-18	18	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$32.00
Determine Research Approach	0.5 days	Wed 27-06-18	Wed 27-06-18	19	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$32.00
Determine Data Collection Method	1 day	Thu 28-06-18	Thu 28-06-18	20	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Receive Funds for Research	2 days	Fri 29-06-18	Mon 02-07-18	21	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$128.00
Proceed to Research	0 days	Mon 02-07-18	Mon 02-07-18	22	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4,Conveyance[0]	$0.00
Research Initiation and Execution	48 days	Tue 03-07-18	Thu 06-09-18			$2,882.00
Gather Resources for Research	3 days	Tue 03-07-18	Thu 05-07-18	23	Research Associate 1, Research Associate 3, Research Resources[1]	$596.00
Get Access to Online Literature Database	1 day	Fri 06-07-18	Fri 06-07-18	25	Online Resources[1], Research Associate 2, Research Associate 4	$282.00
Collect Literature Samples Related to Research Topic	3 days	Mon 09-07-18	Wed 11-07-18	26	Research Associate 1, Research Associate 4	$96.00
Conduct Literature Review	5 days	Thu 12-07-18	Wed 18-07-18	27	Research Associate 1, Research Associate 4	$160.00
Collect Data from Literature	4 days	Thu 19-07-18	Tue 24-07-18	28	Research Associate 1, Research Associate 4	$128.00
Set Up Research Roadmap	2 days	Wed 25-07-18	Thu 26-07-18	29	Research Associate 1, Research Associate 4	$64.00
Develop Research Hypothesis	1 day	Fri 27-07-18	Fri 27-07-18	30	Research Associate 1, Research Associate 4	$32.00
Start Data Collection	1 day	Mon 30-07-18	Mon 30-07-18	31	Research Associate 2, Research Associate 3	$32.00
Contact 50 Project Chiefs in Singapore involved in PPP Projects	2 days	Tue 31-07-18	Wed 01-08-18	32	Research Associate 2, Research Associate 3, Research Resources[1]	$564.00
Conduct Questionnaire Survey	10 days	Thu 02-08-18	Wed 15-08-18	33	Research Associate 2, Research Associate 3	$320.00
Collect Data from Survey	2 days	Thu 16-08-18	Fri 17-08-18	34	Research Associate 2, Research Associate 3	$64.00
Collect Data from Other Sources	2 days	Mon 20-08-18	Tue 21-08-18	35	Research Associate 2, Research Associate 3	$64.00
Start Data Analysis	2 days	Wed 22-08-18	Thu 23-08-18	36	Research Associate 2, Research Associate 3	$64.00
Analyze All Collected Data	5 days	Fri 24-08-18	Thu 30-08-18	37	Research Associate 2, Research Associate 3	$160.00
Find Results	2 days	Fri 31-08-18	Mon 03-09-18	38	Research Associate 2, Research Associate 3	$64.00
Verify or Contradict Research Questions	1 day	Tue 04-09-18	Tue 04-09-18	39	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Develop Research Outcome	1 day	Wed 05-09-18	Wed 05-09-18	40	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Set Base for Future Research	1 day	Thu 06-09-18	Thu 06-09-18	41	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Complete the Research Process	0 days	Thu 06-09-18	Thu 06-09-18	42	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$0.00
Research Submission and Closing	17 days	Fri 07-09-18	Mon 01-10-18			$1,424.00
Prepare Dissertation Based on Entire Research	15 days	Fri 07-09-18	Thu 27-09-18	43	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$960.00
Submit Dissertation	1 day	Fri 28-09-18	Fri 28-09-18	45	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4	$64.00
Get Approval from Supervisor	1 day	Mon 01-10-18	Mon 01-10-18	46	Research Supervisor	$400.00
Sign Off	0 days	Mon 01-10-18	Mon 01-10-18	47	Research Associate 1, Research Associate 2, Research Associate 3, Research Associate 4, Research Supervisor	$0.00

Table 1: Research Timeline and Cost

(Source: Created by Author)

Hence, the total estimated time period for the research is 86 days and the total budget required for the project is around $6000.

3.6  Summary

This chapter describes the overall methodology that will be followed throughout the course of the research. It describes about the research method, research approach and research design that will be the most appropriate for this particular project. Furthermore, this chapter also discusses about the project timeline in detail as well as the budget requirements owing to the resources required to conduct this research. Finally, it is to be noted that this research also needs to have some ethical considerations that will be help the researcher to follow a particular code of conduct and also ethical guidelines that must be followed in any research activity. Some of the ethical considerations to be made are discussed as follows.

Application of Collected Data: All the data collected during this time period will solely be used for research purpose only and not for commercial use. Furthermore, no data will be collected from the sources without the prior permission or approval of the owner.

Survey: Since in this project, a survey will be conducted on 50 project chiefs who have participated in PPP projects, it will be important to ensure the privacy of the participants and thus, their names will not be disclosed to anyone. Also, in order to get favourable opinion from them, no influence will be applied and only their personal opinions will be accepted.

In this research, these ethical considerations have been followed to ensure the ethical code of conduct is maintained while searching for the research outcome throughout the entire course.

In this research, various industries and sectors that have participated in PPP Projects in Singapore have been studied and analysed. The main target area in the PPP projects is the risk allocation process that is generally being followed by the organizations. Although there is not any specific rule for risk allocation, the project chiefs follow their own conventions regarding the allocation of risks in order to ensure smooth execution of the risks. The research findings are hereby summarized.

4.1  Risk Allocation in PPP Projects: A Survey

During the research, a questionnaire survey was conducted on 50 project managers who have worked in PPP projects in the past. The answers generated from each of the managers are noted in the following table.

Your working unit?	Your field of expertise?	Your work experience?	Work position?	Experience in PPP Projects?	No. of PPP Projects you were involved in?	Understanding level in PPP projects?	Infrastructure type using PPP strategy
Local Government	Engineering	2-6 Years	Undertaking	2-6 Years	3-6	Somewhat understanding	Sport facilities
Central Government	Finance	6-10 Years	Management	6-10 Years	7-10	Understanding of the basics	Cultural and education facilities
Central Government	Engineering	0-2 Years	Management	0-2 Years	Less than 3	Little bit of understanding	Transportation facilities
Local Government	Public Administration	2-6 Years	Management	2-6 Years	3-6	Somewhat understanding	Environmental pollution prevention facility
Finance	Facility Management	10-25 Years	Management	0-2 Years	3-6	Understanding of the basics	Major facilities for tour site
Local Government	Finance	10-25 Years	Other	10-25 Years	3-6	Very much proficient and understanding	Sewage, water supply and water conservancy facilities
Local Government	Engineering	2-6 Years	Management	2-6 Years	3-6	Very much proficient and understanding	Environmental pollution prevention facility
Consultant	Engineering	6-10 Years	Management	10-25 Years	11-20	Somewhat understanding	Sewage, water supply and water conservancy facilities
Local Government	Finance	More than 25 Years	Undertaking	2-6 Years	7-10	Very much proficient and understanding	Power facilities and public gas and fuel supply facilities
Central Government	Finance	10-25 Years	Undertaking	0-2 Years	3-6	Somewhat understanding	Sewage, water supply and water conservancy facilities
Contractor	Transport Department	6-10 Years	Other	6-10 Years	11-20	Very much proficient and understanding	Sport facilities
Finance	Transport Department	More than 25 Years	Other	More than 25 Years	3-6	Understanding of the basics	Development of new town
Local Government	Engineering	6-10 Years	Undertaking	6-10 Years	3-6	Understanding of the basics	Power facilities and public gas and fuel supply facilities
Government Agency	Engineering	2-6 Years	Undertaking	6-10 Years	3-6	Very much proficient and understanding	Transportation facilities
Government Agency	Urban Planning	More than 25 Years	Undertaking	10-25 Years	11-20	Understanding of the basics	Power facilities and public gas and fuel supply facilities
Contractor	Urban Planning	2-6 Years	Other	6-10 Years	7-10	Very much proficient and understanding	Sewage, water supply and water conservancy facilities
Finance	Public Administration	0-2 Years	Undertaking	0-2 Years	Less than 3	Little bit of understanding	Transportation facilities
Central Government	Urban Planning	0-2 Years	Other	10-25 Years	More than 20	Little bit of understanding	Environmental pollution prevention facility
Finance	Public Administration	6-10 Years	Management	6-10 Years	3-6	Somewhat understanding	Sanitation and medical facilities
Central Government	Finance	2-6 Years	Undertaking	2-6 Years	Less than 3	Little bit of understanding	Environmental pollution prevention facility
Finance	Transport Department	10-25 Years	Management	2-6 Years	11-20	Understanding of the basics	Sport facilities
Finance	Urban Planning	2-6 Years	Management	6-10 Years	More than 20	Little bit of understanding	Development of new town
Academics	Facility Management	0-2 Years	Undertaking	More than 25 Years	Less than 3	Very much proficient and understanding	Environmental pollution prevention facility
Consultant	Facility Management	0-2 Years	Undertaking	0-2 Years	Less than 3	Little bit of understanding	Transportation facilities
Consultant	Facility Management	0-2 Years	Other	0-2 Years	Less than 3	Very much proficient and understanding	Sport facilities
Local Government	Finance	2-6 Years	Management	10-25 Years	More than 20	Somewhat understanding	Environmental pollution prevention facility
Local Government	Facility Management	6-10 Years	Management	6-10 Years	7-10	Somewhat understanding	Sanitation and medical facilities
Academics	Facility Management	6-10 Years	Other	2-6 Years	11-20	Understanding of the basics	Major facilities for tour site
Local Government	Finance	0-2 Years	Undertaking	0-2 Years	Less than 3	Somewhat understanding	Sport facilities
Consultant	Transport Department	0-2 Years	Management	More than 25 Years	3-6	Understanding of the basics	Sanitation and medical facilities
Central Government	Urban Planning	6-10 Years	Undertaking	10-25 Years	More than 20	Understanding of the basics	Cultural and education facilities
Central Government	Facility Management	6-10 Years	Management	6-10 Years	3-6	Very much proficient and understanding	Sanitation and medical facilities
Government Agency	Facility Management	More than 25 Years	Management	2-6 Years	7-10	Understanding of the basics	Environmental pollution prevention facility
Contractor	Engineering	6-10 Years	Other	10-25 Years	More than 20	Very much proficient and understanding	Cultural and education facilities
Contractor	Transport Department	2-6 Years	Other	0-2 Years	Less than 3	Little bit of understanding	Environmental pollution prevention facility
Central Government	Engineering	More than 25 Years	Other	More than 25 Years	More than 20	Very much proficient and understanding	Sanitation and medical facilities
Consultant	Finance	More than 25 Years	Management	10-25 Years	7-10	Little bit of understanding	Sewage, water supply and water conservancy facilities
Academics	Engineering	10-25 Years	Management	6-10 Years	7-10	Understanding of the basics	Sport facilities
Contractor	Engineering	2-6 Years	Management	10-25 Years	11-20	Understanding of the basics	Transportation facilities
Contractor	Urban Planning	10-25 Years	Undertaking	2-6 Years	Less than 3	Somewhat understanding	Environmental pollution prevention facility
Finance	Engineering	10-25 Years	Other	More than 25 Years	7-10	Little bit of understanding	Transportation facilities
Local Government	Finance	0-2 Years	Undertaking	0-2 Years	Less than 3	Little bit of understanding	Environmental pollution prevention facility
Academics	Finance	0-2 Years	Undertaking	0-2 Years	Less than 3	Little bit of understanding	Environmental pollution prevention facility
Contractor	Urban Planning	2-6 Years	Undertaking	6-10 Years	3-6	Somewhat understanding	Sewage, water supply and water conservancy facilities
Local Government	Facility Management	6-10 Years	Undertaking	2-6 Years	7-10	Somewhat understanding	Sewage, water supply and water conservancy facilities
Government Agency	Urban Planning	6-10 Years	Management	6-10 Years	11-20	Understanding of the basics	Major facilities for tour site
Local Government	Engineering	0-2 Years	Undertaking	2-6 Years	7-10	Somewhat understanding	Major facilities for tour site
Contractor	Public Administration	6-10 Years	Undertaking	6-10 Years	7-10	Understanding of the basics	Environmental pollution prevention facility
Finance	Facility Management	0-2 Years	Undertaking	0-2 Years	3-6	Little bit of understanding	Sport facilities
Consultant	Facility Management	10-25 Years	Other	6-10 Years	7-10	Understanding of the basics	Cultural and education facilities

Table 2: Data Collected from Survey

(Source: Collected by Author)

From the survey, sufficient amount of data has been collected from the opinions of the project managers who have taken part in the PPP projects in Singapore. The focus of this survey was to determine the number of years the managers have been associated with the PPP projects and their level of understanding on the same. From the survey data it has been found the majority of the managers (26%) are from engineering expertise and majority (26%) have work experience between 6-10 years. The survey also states that 30% of the managers have basic understanding of PPP process while a total of 48% managers have somewhat or little understanding of PPP projects.

This data shows that the managers in Singapore are still not sufficiently aware of PPP projects and hence, need more knowledge on the same as well as its critical success factors like risk allocation. Only 22% of the managers have complete understanding of the PPP projects. A recommended solution is to provide the rest of the managers (78%) with some training regarding management of PPP projects.

4.2  Risk Allocation as Critical Success Factor in PPP Projects

Another focus of this research was to determine who does the risk allocation process affect the final outcome of the project. From the research, it has been found that risk allocation is one of the critical success factors that determine the final outcome of the project.

According to the points of views of project managers in Singapore, who have participated in PPP projects, there are eleven separate categories of risks that might be faced in the project. These categories include politics, macroeconomics, social, legal, natural, design, financial, project selection, operation, construction and relationship. Based on the data gathered from Singapore, the general convention of risk allocation is summarized in the following table.

	Public (0)	Private (1)	Share (0.5)
Politics			?
Macroeconomics		?
Social	?
Legal			?
Natural		?
Design		?
Financial		?
Project Selection	?
Operation		?
Construction		?
Relationship			?

Table 3: Risk Allocation Trend in Singapore

(Source: Valipour et al. 2016)

The above table shows the trend of risk allocation in PPP projects in Singapore. Of the eleven categories of risks, it is seen that most of the risks are allocated to the private party while the public party takes care of two risks: social and project selection. Three of the risks are shared by the public and the private parties.

4.3  Summary

From the research, it has been found that PPP projects are more or less evenly distributed among different sectors and industries in Singapore. However, from the survey, it is found that most of the project managers have only participated in PPP projects in the last 10 years and most of them have taken part in three to six projects at maximum. Again, out of the 50 project managers in Singapore, only 22% has said that they are very proficient with understanding the requirements of success factors of PPP projects and 78% managers have only basic, little or no understanding of the PPP projects.

5.1  Risk Allocation in PPP Projects in Singapore

So far in this research, it has been determined that project managers in Singapore follow some specific conventions regarding the allocation of risks in the PPP projects. The main idea behind risk allocation is to allow the responsible party to take suitable actions and also ensure the project is executed without being stopped due to conflict regarding risk management duty. Based on the 11 main categories of risk in the PPP projects, there are three main categories developed regarding allocation of risks: public, private and shared (Valipour et al. 2016). Some specific risk events are distributed separately to the public and private party based on the nature of the risks and the ability of the parties to take care of the risks. On the other hand, some risks are categorized into shared category as these risks cannot be handled alone by public or private party.

Hence, both of these parties take joint action to avoid and mitigate such risks. For instance, the political and legal risks affect both the parties significantly and they need to work together to find suitable solutions regarding these particular issues. Again, regarding the relationship risk, both the parties must maintain a strong relationship together in order to ensure coordination between them throughout the course of the project. Without coordination, the project may actually fail in the long run.

5.2  Risk Allocation as Critical Success Factor in PPP Projects

From the analysis of the PPP projects, it has been found that there are several critical factors in these projects, most of which are somehow related to risk allocation. Based on the study of the PPP projects in Singapore, some key drivers of these projects are listed as foll

Conclusion

Finally, this chapter is mainly developed to conclude the entire research that has been conducted during the entire course of the timeline. The topic of this research was risk allocation in PPP projects and the focus of the research study was mainly Singapore although some global data was also collected in order understand the situation and position of Singapore in the world regarding risk management in the PPP projects. While most of the projects in Singapore have been benefitted by PPP contracts and suitable risk allocation techniques, it has also been found that most of the project managers do not have sufficient knowledge or understanding the values and importance of PPP projects. This might lead to problems in complex projects if the managers fail to allocate risks to responsible parties when necessary.

6.2  Contributions of the research to knowledge

In addition to gaining significant research skills, this research has also provided sufficient amount of knowledge regarding project management as well as risk management in projects. Again, the research also helped to gather knowledge on PPP projects, a topic that has not been explored much except only in the most recent times. There has also been knowledge gathered regarding allocation of risks in the PPP projects and how the risk allocation process has become a critical success factor in these projects in Singapore.

3  Research Limitations and Future Work

In spite of gathering significant data regarding the research topic, it can be said that there are some research limitations as well. These limitations are listed below.

• The research only focuses on one specific area although the actual field is extremely vast.
• This research does not focus on the types and effects of the risks on the organizations.
• This research is focussed on one country only instead of a global view.
• The primary data collection is limited to questionnaire survey only.

This particular research has a lot of scope for future work. While this research only focuses on risk allocation in PPP projects in Singapore, future researchers can get into even more detail regarding the nature and types of risks that may affect the performance of the PPP projects. Future work may also include study of PPP projects on a global scale instead of just focussing on one country.

6.4  Recommendations for Further Research

There can be some recommendations for further research, which are mentioned and listed below.

• Further research should focus on how the parties in PPP projects manage and handle risks after allocation.
• Further research can explore what one party can do if the other party is not able to manage a particular risk.
• Further research should explore other countries where PPP projects are common.

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