Identifying and mitigating key risk factors in Singapore's financial sector public-private partnerships

• Main Author: Goh, Lucas Zhiyu
• Other Authors: Chen Chung-An
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2024
• Subjects: Social Sciences; Public-private partnership; Key risk factors; Risk identification; Risk mitigation
• Online Access: https://hdl.handle.net/10356/175798
• Institution: Nanyang Technological University

This paper strives to identify the key risk factors in Singapore’s financial sector Public Private Partnerships (PPPs), before discussing the associated mitigating strategies. Adopting a multi-stage research design, using a mixed-method approach of semi-structured surveys and interviews, this research investigates whether the common key risk factors across PPPs in other sectors are relevant to financial sector PPPs in Singapore. Upon identifying the key risk factors that Singapore’s financial sector PPPs are exposed to, strategies targeted at mitigating these key risk factors were discussed during the interviews. The research revealed “Resource risk”, “Objective risk”, “Process risk”, “Financial risk”, “Compliance risk” and “Legal risk” as the most frequently occurring and high severity risk factors that financial sector PPPs in Singapore are exposed to. Due to the differing nature of financial sector PPPs, “Financial risk”, “Compliance risk” and “Legal risk” uniquely influence the project outcomes in financial sector PPPs more than the other common risk factors identified. This study has highlighted “Timely Risk Assessments”, “Effective Monitoring of Stakeholder Behaviour” and the “Usage of Public Consultation” as broad methods to mitigate the aforementioned key risk factors, and categorized the mitigation strategies according to the PPP project phase where it occurs.