Stakeholders’ Perception of Critical Success Sub- Factors (CSSFs) for Implementation of Public –Private Partnership Projects

Abstract

Aim of study is to investigate Critical Success Sub-factors (CSSFs) contributing to successful implementation of PPP projects. Objectives are to compare perception of stakeholders on importance of CSSFs contributing to successful implementation of PPP projects in Nigeria and also to test whether there is significant agreement between the stakeholders on their rankings of CSSFs. Structured questionnaires were used to collect
information from professionals and concessionaires who were involved in PPP projects. Purposive sampling technique was used in selecting fifty (50) respondents and only thirty-six (36) responses were used for data analysis. Results suggest that CSSFs for successful implementation of PPP project are integrity, complexity of project, project management expertise, realistic cost/benefit assessment, government guarantee, private
sector financial capability and adequate financial market that must be considered by all stakeholders. There is an agreement in the opinion of both the Public and Private sectors on the importance of CSSFs except for strong private consortium where opinions differ. Implications of this study for policy makers in government and stakeholders is for government to provide adequate guarantee for implementation of PPP project that would enable equitable participation of the Private sector and for practice concessionaires with good integrity, financial capability and project
management expertise must be considered for future PPP projects. The study concludes that some CSSFs are important for successful implementation of PPP projects in Nigeria and good agreement was obtained between stakeholders perception on the most important CSSFs for successful implementation of PPP projects. The study recommends that governments must provide good guarantee for PPP project implementation. The proposed CSSFs are recommended to all stakeholders and practitioners for their use and adoption in future PPP projects and governments must consider for future PPP projects in Nigeria such concessionaires that will provide realist cost and benefit assessments of the projects.

Keywords: Stakeholders, Perception, Critical Success Sub-Factors, Public-Private Partnership, Nigeria.