Innovative Framework Boosts Governance in Public-Private Partnerships

Researchers from the Indian Institute of Management (IIM) Lucknow and Ranchi have unveiled a pioneering framework designed to enhance governance in public-private partnership (PPP) projects. This new framework targets key challenges such as contract disputes and investment risks, which often plague these significant infrastructure projects.

The framework, detailed in the journal Built Environment Project and Asset Management, leverages real-world cases to embed themes of transparency, integrity, responsibility, and performance within PPP initiatives. It promises to aid managers in designing and monitoring accountability throughout a project's lifecycle.

Dipti Gupta of IIM Lucknow emphasized the framework's potential to improve public display of information and media coverage, while fostering joint decision-making and clarifying responsibilities. Her colleague, Santosh Kumar Prusty, noted its utility in policy design, risk-sharing strategies, and contract management, aiming to enhance stakeholder trust and project sustainability.

(With inputs from agencies.)