Privatization of Transportation—The Risks Associated with Operationby Serge Dassonville, SOFRETU, France,
Document Type: Proceeding Paper
Part of: Major Development and Transportation Projects: Public/Private Partnerships
Abstract: Privatization is mainly characterized through: a new distribution of technical and financial responsibilities between public authorities and private partners, potentially profit-generating but entailing risks as well; long-term commitments one must be capable of managing. This frame necessitates to set up a new form of management of responsibilities between partners as suppliers, financiers, operator and public agencies, a new scope for relationship. Establishment of clearly defined relationships between the various partners requires that all risks of the project be accurately analysed and be fairly distributed between all partners, among them the operation risks are the more specific in the case of a mass transit franchise.
Subject Headings: Public private partnership | Risk management | Privatization | Public transportation | Public health and safety | Private sector | Profits
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