Project Delivery—PPP Concession Periods

  • David G. CarmichaelEmail author
Part of the Management in the Built Environment book series (MABUEN)


Public-Private Partnerships (PPPs, P3s) and related concessional delivery methods have current popularity in the delivery of infrastructure across the world, but have been used in different disguises for several centuries. A defining characteristic of a PPP is a concession period, agreed between the two main parties—a public authority and a private concessionaire. The concession period is the time given to the concessionaire to design and construct the infrastructure and collect revenue, before handing back the infrastructure to the authority.


  1. 1.
    Black J (2014) Traffic risk in the Australian toll road sector. Public Infrastruct Bull 1(9):18–29Google Scholar
  2. 2.
    Carmichael DG (2017) Adjustments within discount rates to cater for uncertainty-guidelines. Eng Econ 62(4):322–335CrossRefGoogle Scholar
  3. 3.
    Carmichael DG, Bustamante BL (2014) Interest rate uncertainty and investment value-a second order moment approach. Int J Eng Manag Econ 4(2), 176–189CrossRefGoogle Scholar
  4. 4.
    Carmichael DG, Handford LB (2015) A note on equivalent fixed-rate and variable-rate loans; borrower’s perspective. Eng Econ 60(2), 155–162CrossRefGoogle Scholar
  5. 5.
    Engel E (2008) Public-private Partnerships: when and how, MIT presentation, MIT, Massachusetts, pp 39Google Scholar
  6. 6.
    Hillier FS (1965) Supplement to ‘The derivation of probabilistic information for the evaluation of risky investments’. Manag Sci 11(3):485–487CrossRefGoogle Scholar
  7. 7.
    Hodges SD, Moore PG (1968) The consideration of risk in project selection. J Inst Actuar 94:355–378CrossRefGoogle Scholar
  8. 8.
    Nombela G, de Rus G (2004) Flexible-term Contracts for Road Franchising. Transp Res Part A 38:163–179Google Scholar
  9. 9.
    Quiggin J (2005) Public-private partnerships: options for improved risk allocation. Aust Econ Rev 38(4):445–450CrossRefGoogle Scholar
  10. 10.
    Shen LY, Li H, Li QM (2002) Alternative concession model for build operate transfer contract projects. ASCE J Constr Eng Manag 128(4):326–330CrossRefGoogle Scholar
  11. 11.
    Shen LY, Wu YZ (2005) Risk concession model for build/operate/transfer contract projects. ASCE J Constr Eng Manag 131(2):211–220CrossRefGoogle Scholar
  12. 12.
    Shen LY, Bao HJ, Wu YZ, Lu WS (2007) Using bargaining-game theory for negotiating concession period for BOT-type contract. ASCE J Constr Eng Manag 133(5):385–392CrossRefGoogle Scholar
  13. 13.
    Vassallo JM (2006) Traffic risk mitigation in highway concession projects: the experience of Chile. J Trans Econ Policy 40(3):359–381Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Civil and Environmental EngineeringUNSW AustraliaSydneyAustralia

Personalised recommendations