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ИД «Финансы и кредит»






Economic Analysis: Theory and Practice

Project stakeholder risk classification on the public-private partnership principles

Vol. 22, Iss. 2, FEBRUARY 2023

Received: 2 December 2019

Received in revised form: 25 December 2019

Accepted: 10 January 2020

Available online: 28 February 2023


JEL Classification: C13, H54, L90, L98, O22

Pages: 348–364


Aleksei N. SAVRUKOV Financial University under Government of Russian Federation, Moscow, Russian Federation


Nikolai T. SAVRUKOV Nizhny Novgorod State University of Engineering and Economics (NGIEU), Nizhny Novgorod, Russian Federation


Era A. KOZLOVSKAYA Higher School of Engineering and Economics, Peter the Great St. Petersburg Polytechnic University (SPbPU), St. Petersburg, Russian Federation


Subject. This article analyzes the relations of participants of projects implemented on the principles of public-private partnership (PPP).
Objectives. The article aims to classify the risks of PPP members for their systematization and develop recommendations for their comprehensive accounting in order to improve the efficiency of collaborative engagement of the State and business.
Methods. For the study, we used the systems and targeted approaches, generalization, and the methods of comparative, factor, and criterion analyses.
Results. The article substantiates the need to classify risk and describes the key risks of PPP projects. It offers an original classification and risk matrix for PPP project participants, and complements the list of risks and their classification criteria.
Conclusions. The article puts forward the idea that the advantage of implementing PPP projects for the State is the possibility of transferring risk to a private partner. Practical use of the proposed classification and risk matrix will enable partnership members to develop and implement the most appropriate risk management systems, as well as justify the optimal strategy and policy to attract investment in the country's infrastructure complex.

Keywords: classification, matrix, risk, project, public-private partnership, participant


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