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Kurniawan, F, Ogunlana, S and Motawa, I (2010) An integrated project evaluation tool for PFI seaport projects. In: Egbu, C (Ed.), Proceedings 26th Annual ARCOM Conference, 6-8 September 2010, Leeds, UK. Association of Researchers in Construction Management, Vol. 2, 1317–27.
- Type: Conference Proceedings
- Keywords: bidding; estimating; risk; procurement; decision analysis
- ISBN/ISSN: 978-0-9552390-4-5
- URL: http://www.arcom.ac.uk/-docs/proceedings/ar2010-1317-1327_Kurniawan_Ogunlana_and_Motawa.pdf
- Abstract:
The evaluation of the financial viability for seaport projects is a critical activity for bidders and governments under traditional procurement or through private finance initiative (PFI). The aim of this research is to assist government agencies in evaluating bids and making decision efficiently for seaport development projects through the use of an integrated project evaluation tool. The proposed tool is expected to integrate the results of the financial model and the risk sharing strategy. The integrated project evaluation tool can be mutually used by the government agency and the sponsor(s). This paper discusses the proposed tool to be tested in future study. The research strategy uses literature review, questionnaire surveys, interviews, and document analyses in order to develop the proposed tool. The tool will be tested through case studies and experts’ opinion to validate its applicability and effectiveness. The main conclusion of this paper is that the knowledge gap between the sponsor(s) and the government agency can be improved if the government agency is provided with efficient tools that consider both the financial and the risk factors affecting a new project.