Strategic Planning and Rural Economic Development: An Evaluative Case Study Approach to the Use of Public Private Partnerships in High Risk Transportation Projects
Economic development is a key area of concern to all communities. Recent downturns in the U.S. and world economies suggest that innovative economic development policies are useful means for addressing issues regarding cash flow and other questions surrounding project funding. An increasing awareness of the need to rebuild or improve public infrastructure and service in the face of shrinking financial resources has led many world governments, including the United States, to explore cooperatives with the private sector to deliver and manage these projects and help them bridge this gap. This kind of partnership or policy is commonly known as a Public Private Partnership (PPP). This paper uses a case study approach to evaluate the role of PPPs in managing high risk transportation projects for rural economic development. The efforts of a river community in the Midwest to develop a transportation ferry service are showcased as part of the research. Two mathematical models (Analytical Hierarchy Process (AHP) and Quality Function Deployment (QFD) are used to determine the most effective PPP model to create a sustainable transportation system. Benefits to the engineering manager include the creation of a strategic roadmap for developing such partnerships. Elements of the roadmap include mechanisms for evaluating sustainable partnerships, schemas for risk mitigation, and the development of a costs-benefits analysis for these types of high risk projects.
K. Rangarajan and S. Long, "Strategic Planning and Rural Economic Development: An Evaluative Case Study Approach to the Use of Public Private Partnerships in High Risk Transportation Projects," Proceedings of the 30th Annual National Conference of the American Society for Engineering Management (2009, Springfield, MO), pp. 46-52, American Society for Engineering Management (ASEM), Oct 2009.
30th Annual National Conference of the American Society for Engineering Management (2009: Oct. 14-17, Springfield, MO)
Engineering Management and Systems Engineering
Keywords and Phrases
Analytical Hierarchy Process; Economic Development Policy; Public Infrastructures; Public Private Partnerships; Quality Function Deployments (QFD); Sustainable Transportation Systems; Transportation Projects; Bridges; Economics; Mathematical Models; Research; Risk Assessment; Mergers And Acquisitions
International Standard Book Number (ISBN)
Article - Conference proceedings
© 2009 American Society for Engineering Management (ASEM), All rights reserved.