Analysis of appropriate stakeholder model and critical success factors (CSFs) of public-private partnership (PPP) investment program: empirical evidence of infrastructure development in Thailand
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2022
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2565
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eng
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177 leaves
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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National Institute of Development Administration. Library and Information Center
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Supachai Rakpanitmanee (2022). Analysis of appropriate stakeholder model and critical success factors (CSFs) of public-private partnership (PPP) investment program: empirical evidence of infrastructure development in Thailand. Retrieved from: https://repository.nida.ac.th/handle/662723737/6579.
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Analysis of appropriate stakeholder model and critical success factors (CSFs) of public-private partnership (PPP) investment program: empirical evidence of infrastructure development in Thailand
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Abstract
This dissertation aims to review the concepts and theories relating to PPP interventions, exploring PPP practices at both international and country (Thailand) levels as well as identifying their strengths and limitations. The targeted findings will focus on the strategic stakeholder institutional, policy and operational regulating frameworks with their critical success factors (CSFs) for PPP implementation in Thailand. Public end users’ participation as well as sustainable development goals (SDGs) and specific stakeholders’ success criteria (SC) will also be taken into account in the explored stakeholder model.
The researcher utilized the sequential mixed method research, using both qualitative and quantitative approaches. The qualitative method was firstly applied to validate the proposed hypotheses derived from literature review stage, and the quantitative method was subsequently applied to confirm the reliability of research findings. Based on literature review, qualitative analysis involving executive interviews, and quantitative analysis involving survey of operational staffs, the research findings recommend a new Public-Private-People Partnership (PPPP) strategic stakeholder institutional model-along with its success goal, success criteria, and critical success factors-to be both policy and operation regulating frameworks that reinforce the merit of PPP practice, in Thailand and beyond.
The results of the in-depth face to face interviews with 22 executives from PPP executing agencies confirmed that the people sector is one of key stakeholders to create more PPP success. The explored Public-Private-People Partnership (PPPP) model was proposed to be the strategic stakeholder institutional model. The success criteria (SC) of PPP for each particular sector are mostly accepted as follows: Good public welfare delivery for public owner as contracting agency, rational/reasonable business profitability for private investor, and good quality of life for the public end-user groups. This research concluded that the highest concern of the public sector is good governance, followed by managerial system, legal framework, finance, and politics, respectively. The highest concern of the private sector is also good governance, followed by managerial system, finance, and business policy. And the highest concern of the people sector is project configurations, followed by legal framework, and good governance. Six critical success factors (CSFs) which include politics, legal framework, finance, project configurations, managerial system, and good governance are the key attributes of the explored model. The seventy (70) sub-critical success factors (SCSFs) of the public (29), private (25), and people (16) sectors have been identified and proposed to be policy regulating framework of PPP intervention. The quantitative research, which involved 65 respondents of surveyed questionnaires from 15 agencies, confirms that public or people participation in every stage of PPP procedure is highly essential-with the preferred participation channels involving by academic or professional agency. Lastly, 41 sub-critical success factors (SCSFs) of the public (17), private (13), and people (11) sectors are confirmed and proposed to be the operation regulating framework for PPP intervention.
In conclusion, this research recommends that the reform of PPP mechanism in Thailand should be considered and pursued as such actions would likely lead to more sustainable benefits derived from large-scale public physical infrastructure development. The PPPP strategic stakeholder institutional model and its critical success factors discussed in this research could serve to help guide this pursuit. In addition, more research regarding both policy and operation in practice and academic evolution of the proposed PPPP strategic stakeholder institutional model are strongly recommended. And these key research topics should likely include the risk management, performance monitoring, and evaluation system as well as mutual partnership between government and private investors that would result in fair risk allocation, and strengthened PPP knowledge sharing system among all involved parties. Ultimately, the author hopes that the appropriate executions of this PPPP model and guided by the proposed PPPP strategic institutional, policy and operation regulating frameworks would continue to progressively evolve the outcome of sustainable public infrastructure development projects and affectively contribute to the better well-being of people who are end-users and/or impacted groups.
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Thesis (Ph.D. (Development Administration))--National Institute of Development Administration, 2022