Abstract:
Infrastructure investments are essential to foster the economic growth of a
nation and providing a platform in which new forms of partnerships and
collaborations for project delivery can be explored. Owing to the scarcity of
financial outlay in public sector agencies to develop and maintain the
infrastructure, public-private partnership as one of the project delivery method has
gained wide acceptability world over. Built operate transfer (BOT) as part of
public-private partnership is considered a viable substitute to conventional public
funding for infrastructure development projects. Private sector or promoter/
concessionaire of the BOT project are exposed to multiple risks which necessitate
effective risk management methods in ensuring the success of such projects. This
research work identifies major risk factors contributing towards the highway asset
management of BOT projects. A questionnaire-based survey was employed to
various stakeholders including clients, consultants, and contractors and 69 risk
factors were analyzed and ranked using statistical tool PASW-18. The study
revealed that the selection of inappropriate project; improper pre-bid evaluation of
the project; entering into loose concession; selection of inexperienced construction
and supervision team during construction phase; weak management and
maintenance team for operational phase are the major contributing factors for the
poor highway asset management of the BOT projects in Pakistan.
