基础设施PPP项目的风险分担解析.doc

柯永建、刘新平、王守清，基础设施PPP项目的风险分担，《建筑经济》，2008年第4期，第31-35页 ---------------------------------- 基础设施PPP项目的风险分担 柯永建1，王守清1，陈炳泉2（1. 清华大学建设管理系，北京100084；2. 香港理工大学建筑及房地产学系） 摘要：基础设施PPP（Public-PrivatePartnership）项目投资大、时间长、风险高、合同结构相对复杂，项目谈判过程往往旷日持久，很多时候由于在实施过程中无法兑现承诺或发生其他原因而出现争议，以至于实践中只有少量PPP项目能正常运作。其中，很大原因在于公共部门和私营部门之间缺乏公平的定量风险分担标准。本文通过详尽的文献综述，首先归纳风险分担在项目过程中的时点和要点，并总结风险分担对项目资金价值的影响，最后比较分析已有的风险分担准则和不同的风险分担结果，以期为PPP项目风险分担的研究和实际操作提供可参考依据。 关键词：风险分担、基础设施、公私合营、PPP 中图分类号：F294 ? ? ? ? ? ?文献标识码：A Risk Allocation in Infrastructure Public-Private Partnership (PPP) Projects Yongjian Ke1, ShouQing Wang1and Albert PC Chan2 (1. Department ofConstruction Management, Tsinghua University, Beijing100084;2. Department of Building and Real Estate, The Hong Kong Polytechnic University) Abstract: Negotiations among projectparticipants in Public-Private Partnership (PPP) especially between governmentand the private consortium are time-consuming and costly. Disputes often ariseduring the operation period, due to the characteristics associated with PPPmode which typically involves huge investment, long concession period, highrisks and complicated contractual structure. Earlier research works indicatedthat a fair quantitative risk allocation among the stakeholders is essentialfor the success of PPP projects; however, actual empirical research on theground is limited. In light of these, this paper suggests the timing and keypoints of risk allocation in a PPP project, and then summarizes theirinfluences on value for money and the criteria to allocate risks. A comparativestudy of several risk allocation schemes is also provided as a reference for furtherresearch and practice of PPP projects. Keywords: Risk Allocation,Infrastructure, Public-Private Partnership ? ? ? ? PPP（Public-Private Partnership）是一种提供公共基础设施建设及服务的方式，由私营部门为项目融资、建造并在未来的25至30年里运营此项目。它在英国、澳大利亚等国家的基础设施和公用事业领域的应用显示出巨大的优势，其应用范围涵盖交通、电厂、供水、污水/垃圾处理、医疗、国防、监狱和警局等领域。 ? ? 在PPP项目的实施过程中，风险管理对项目目标的实现至关重要，对于公共部门和私营部门而言，很有必要详尽地评估整个项目生命周期中的潜在风险。特别是在PPP项目合同谈判阶