Theses and Dissertations from UMD

Permanent URI for this communityhttp://hdl.handle.net/1903/2

New submissions to the thesis/dissertation collections are added automatically as they are received from the Graduate School. Currently, the Graduate School deposits all theses and dissertations from a given semester after the official graduation date. This means that there may be up to a 4 month delay in the appearance of a give thesis/dissertation in DRUM

More information is available at Theses and Dissertations at University of Maryland Libraries.

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2011 - 20152

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    DEVELOPING A FRAMEWORK FOR EX-POST VALUE FOR MONEY ANALYSIS IN PUBLIC PRIVATE PARTNERSHIP PROJECTS
    (2015) Ghorban, Amir; Cui, Qingbin; Civil Engineering; Digital Repository at the University of Maryland; University of Maryland (College Park, Md.)
    In recent years, Public Private Partnerships (PPPs) has emerged as a project delivery option for transportation projects in the US. This type of project delivery is generally a long term agreement between the public and private sectors for the purpose of delivering a project or service traditionally provided by the public sector. Some of the reasons for implementing PPPs are the ability to provide an overall lower life-cycle cost and to increase cost and schedule certainty. This is sometimes referred to as the ability to provide a better Value for Money, hence the use of Value for Money (VFM) analyses to compare overall financial impacts of PPP against those of a traditional delivery alternative. While the VFM analysis is considered as the best practice for selecting PPP approach, the primary challenge in conducting the analysis, however, is to validate the empirical results of these studies. Most of the previous studies have investigated ex-ante results and little has been done in regards to what can be considered ex-post studies. This study presents a framework for ex-post value for money analysis. Processes, data requirement, and algorithms are developed to ensure an ex-post assessment can be performed at various stages of PPP project development including commercial close, substantial completion, during operation and maintenance phase, and final acceptance. The Presidio Parkway project in San Francisco will be used as a case study to illustrate the method and procedure of ex-post VFM analysis framework.
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    SUSTAINING PRIVATIZATION
    (2011) Pratap, Kumar Vinay; Graham, Carol; Public Policy; Digital Repository at the University of Maryland; University of Maryland (College Park, Md.)
    This dissertation examines the factors associated with sustainable privatization of infrastructure projects. Privatization offers a way for governments to make infrastructure delivery more effective and efficient than exclusively public provision, but often the promise is fraught with peril. The three essays that constitute this dissertation seek to use empirical data and analysis to answer three selected questions regarding sustainable privatization: ,,h What causes the private sector to exit from infrastructure projects? ,,h Do Public-Private Partnerships (PPPs) provide value for money to governments? ,,h Does privatization lead to benign outcomes? The first essay of this dissertation takes the broadest view, looking at cross-country, cross-sector regression analysis to unearth patterns in infrastructure privatization failures - with a view to understand as well the factors that lead to success. The second essay takes a further step from the broad overview of the first essay by looking in detail at individual projects and examining what factors could lead to better value for money to governments. Finally, the third essay looks at the choice between asset sales and share issue privatization as two specific methods for privatization and their subsequent impact on the performance of the privatized company. The three essays thus represent a progression from survival to good health and finally to growth. My major conclusions are: ,,h Project cancellation rates, though rising, are still low. Although ownership may change hands, for the most part, the private sector is staying in private infrastructure projects. ,,h Although trends in cancellation may not be an issue for private infrastructure projects as a whole, it is a concern in the water and sewerage sector. The high probability of cancellation and relatively low level of fresh investment in the sector suggests a declining role for the private sector in making available this essential service. ,,h There is value for money to governments from entering into Public-Private Partnerships in infrastructure. ,,h Divestment leads to significant improvement in profitability, efficiency, and real output of firms, besides providing some fiscal boost to the government. However, the impact on employment is negative.