Conceptual model assessing complex the public-private partnership projects effectiveness

Abstract

The article presents the author’s model assessing complex the public-private partnership (hereinafter PPP) projects effectiveness based on the multifaceted development of this tool for the development of regional economic systems. The relevance of the research topic is since accelerating the pace of fundraising, expanding the range of possible options for public-private partnership agreements, increasing the number of innovative projects increase the problem of developing comprehensive criteria for the PPP effectiveness assessing. Most modern studies are rather narrow in nature and consider only one of the aspects of the development of a PPP instrument: the mutually beneficial union of public and private capital. In this regard, the presented study purpose is to develop a conceptual model for the PPP projects effectiveness comprehensive assessment. The sources of this work are the regulatory legal Russian Federation acts in the field of public-private partnerships, the works of domestic and foreign authors in this area, as well as official information pages from the Internet. The developed model includes three stages of efficiency assessment. At the first stage, a qualitative PPP project assessment is carried out. The principles of integrated PPP projects assessment future model are being formed. The risks are to identify in a PPP project for each stakeholder. The second stage analyzes the value of partnerships. This analysis is based on an assessment of various comparative project performance kinds. At the third stage, a three-aspect assessment of the project’s effectiveness is carried out, considering the potential social result from the project and the benefits of the state and private partners. Based on this, the practical significance of the proposed integrated assessment model is determined, both in the regulations development to justify and the individual PPP projects effectiveness.