Beyond project governance. Enhancing funding and enabling financing for infrastructure in transport: Findings from the importance analysis approach

Ibsen Chivatá Cárdenas, Hans Voordijk, Geert Dewulf

    Research output: Contribution to journalArticleAcademicpeer-review

    13 Downloads (Pure)

    Abstract

    Based on the examination of the transactions made in 58 case study projects, we have developed probabilistic causation models that include relationships hypothesised from exhaustive literature reviews. These models contain relationships that relate a number of significant project variables to transport infrastructure project performance. Here, we report on the use of the Importance Analysis approach to identify the most significant factors linked to variables measuring project performance. Such an approach is used in combination of Bayesian Networks and Sensitivity Analysis. Some variables that resulted important to achieve cost, time, and revenue expectations in transport infrastructure projects are identified. These include factors other than those related to project governance but linked to the funding and financing schemes in a project and its context of implementation. Additionally, we analysed how projects in the BENEFIT database responded to the effects of the European economic crisis in 2008. The results indicated that some actions were implemented at some instances during the crisis time. Specific factors that appeared to be sufficiently robust to face the economic crisis were found.

    Original languageEnglish
    Pages (from-to)481-498
    Number of pages18
    JournalEuropean journal of transport and infrastructure research
    Volume18
    Issue number4
    Publication statusPublished - 1 Jan 2018

    Fingerprint

    funding
    infrastructure
    governance
    Economics
    Bayesian networks
    Electric network analysis
    Sensitivity analysis
    economic crisis
    Costs
    financing
    project
    analysis
    network analysis
    literature review
    economics
    performance
    transaction
    sensitivity analysis
    revenue
    examination

    Keywords

    • Causal modelling
    • Cost overrun
    • Funding and financing schemes
    • Project governance
    • Uncertainty in projects

    Cite this

    @article{27fa878d371b47ee9f42a21a6a8e980f,
    title = "Beyond project governance. Enhancing funding and enabling financing for infrastructure in transport: Findings from the importance analysis approach",
    abstract = "Based on the examination of the transactions made in 58 case study projects, we have developed probabilistic causation models that include relationships hypothesised from exhaustive literature reviews. These models contain relationships that relate a number of significant project variables to transport infrastructure project performance. Here, we report on the use of the Importance Analysis approach to identify the most significant factors linked to variables measuring project performance. Such an approach is used in combination of Bayesian Networks and Sensitivity Analysis. Some variables that resulted important to achieve cost, time, and revenue expectations in transport infrastructure projects are identified. These include factors other than those related to project governance but linked to the funding and financing schemes in a project and its context of implementation. Additionally, we analysed how projects in the BENEFIT database responded to the effects of the European economic crisis in 2008. The results indicated that some actions were implemented at some instances during the crisis time. Specific factors that appeared to be sufficiently robust to face the economic crisis were found.",
    keywords = "Causal modelling, Cost overrun, Funding and financing schemes, Project governance, Uncertainty in projects",
    author = "C{\'a}rdenas, {Ibsen Chivat{\'a}} and Hans Voordijk and Geert Dewulf",
    year = "2018",
    month = "1",
    day = "1",
    language = "English",
    volume = "18",
    pages = "481--498",
    journal = "European journal of transport and infrastructure research",
    issn = "1567-7133",
    publisher = "Delft University of Technology",
    number = "4",

    }

    TY - JOUR

    T1 - Beyond project governance. Enhancing funding and enabling financing for infrastructure in transport

    T2 - Findings from the importance analysis approach

    AU - Cárdenas, Ibsen Chivatá

    AU - Voordijk, Hans

    AU - Dewulf, Geert

    PY - 2018/1/1

    Y1 - 2018/1/1

    N2 - Based on the examination of the transactions made in 58 case study projects, we have developed probabilistic causation models that include relationships hypothesised from exhaustive literature reviews. These models contain relationships that relate a number of significant project variables to transport infrastructure project performance. Here, we report on the use of the Importance Analysis approach to identify the most significant factors linked to variables measuring project performance. Such an approach is used in combination of Bayesian Networks and Sensitivity Analysis. Some variables that resulted important to achieve cost, time, and revenue expectations in transport infrastructure projects are identified. These include factors other than those related to project governance but linked to the funding and financing schemes in a project and its context of implementation. Additionally, we analysed how projects in the BENEFIT database responded to the effects of the European economic crisis in 2008. The results indicated that some actions were implemented at some instances during the crisis time. Specific factors that appeared to be sufficiently robust to face the economic crisis were found.

    AB - Based on the examination of the transactions made in 58 case study projects, we have developed probabilistic causation models that include relationships hypothesised from exhaustive literature reviews. These models contain relationships that relate a number of significant project variables to transport infrastructure project performance. Here, we report on the use of the Importance Analysis approach to identify the most significant factors linked to variables measuring project performance. Such an approach is used in combination of Bayesian Networks and Sensitivity Analysis. Some variables that resulted important to achieve cost, time, and revenue expectations in transport infrastructure projects are identified. These include factors other than those related to project governance but linked to the funding and financing schemes in a project and its context of implementation. Additionally, we analysed how projects in the BENEFIT database responded to the effects of the European economic crisis in 2008. The results indicated that some actions were implemented at some instances during the crisis time. Specific factors that appeared to be sufficiently robust to face the economic crisis were found.

    KW - Causal modelling

    KW - Cost overrun

    KW - Funding and financing schemes

    KW - Project governance

    KW - Uncertainty in projects

    M3 - Article

    AN - SCOPUS:85053730142

    VL - 18

    SP - 481

    EP - 498

    JO - European journal of transport and infrastructure research

    JF - European journal of transport and infrastructure research

    SN - 1567-7133

    IS - 4

    ER -