Neurofuzzy Decision Support System for Efficient Risk Allocation in Public-Private Partnership Infrastructure Projects

by Xiao-Hua Jin, Lecturer; School of Architecture and Building, Faculty of Science and Technology, Deakin Univ., Geelong, Victoria 3217, Australia.,,

Serial Information: Issue 6, Pg. 525-538

Document Type: Journal Paper

Abstract: The performance of public-private partnership (PPP) infrastructure projects is largely contingent on whether the adopted risk allocation (RA) strategy is efficient. Theoretical frameworks drawing on the transaction cost economics and the resource-based view of organizational capability are able to explain the underlying mechanism but unable to accurately forecast efficient RA strategies. In this paper, a neurofuzzy decision support system (NFDSS) was developed to assist in the RA decision-making process in PPP projects. By combining fuzzy and neural network techniques, a synthesized fuzzy inference system was established and taken as the core component of the NFDSS. Evaluation results show that the NFDSS can forecast efficient RA strategies for PPP infrastructure projects at a highly accurate and effective level. A real PPP infrastructure project is used to demonstrate the NFDSS and its practical significance.

Subject Headings: Public private partnership | Infrastructure | Risk management | Decision support systems | Forecasting | Economic factors | Organizations | Fuzzy sets |

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