Researchers from the Indian Institute of Management (IIM) Lucknow and Ranchi have formulated a framework aimed at enhancing governance in public-private partnership (PPP) projects and addressing issues like contract disputes and investment risks, as per official statements. PPP projects are crucial for infrastructure development but often encounter challenges including contract disputes, investment risks, institutional voids, and concerns regarding transparency, trust, and integrity. Despite global recognition of these projects, there is an urgent requirement for a comprehensive framework that empowers managers to design and oversee accountability throughout the project lifecycle, officials noted.
The study, published in the esteemed journal Built Environment Project and Asset Management, utilizes real-world PPP case studies to weave together themes related to accountability such as transparency, integrity, responsibility, and performance. “The proposed accountability framework offers various implications for policymakers overseeing PPP projects, including extensive public disclosure and media attention on all information, adherence to a collaborative decision-making process, clarification of individual responsibilities, and ongoing internal and external performance evaluations,” stated Dipti Gupta, Assistant Professor at IIM Lucknow. “The framework can assist policymakers, regulatory bodies, and project managers in crafting accountability governance policies, risk-sharing strategies, and performance management systems for PPP projects.
By promoting transparency and trust, this framework encourages enhanced stakeholder engagement and bolsters the long-term viability of public infrastructure projects,” she further explained. The framework, developed by Gupta in collaboration with Santosh Kumar Prusty, Assistant Professor at IIM Ranchi, integrates theoretical concepts such as trust, dialogue, multi-dimensionality, and external control.
