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Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective

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@article{IJASEIT4322,
   author = {Reini D. Wirahadikusumah and - Sapitri and Betty Susanti and Biemo W. Soemardi},
   title = {Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective},
   journal = {International Journal on Advanced Science, Engineering and Information Technology},
   volume = {8},
   number = {2},
   year = {2018},
   pages = {475--482},
   keywords = {toll road; government’s estimate; risk; investor; mitigation.},
   abstract = {The government’s estimate for toll road concession award, as a comparator for investors’ bids, has been criticized by investors, as it does not fully include the proper cost of risks. Thus, there is a need to develop a more equitable estimate that considers the risks, both at the project and at the business/corporate level. The study was mainly supported by qualitative data on the probability of occurrences and impact assessment of risks, acquired through interviews with major investors. Probability Impact Matrices were used to identify risks categorized as “high risks.” Findings have indicated that the high and dominant risks are: i) Route/traffic management (lower traffic volume due to changing routes); ii) Overloading (poorly imposing the limitations of heavy vehicles); and iii) Inadequate/inaccurate data in feasibility study documents. Recommendation on the mitigation plan for these risks has been corroborated by both parties, the government, and the investors. Parts of the risk are proposed to be incorporated into the government’s estimate, while other risks should be adequately addressed in specific contract clauses for Indonesia’s PPP scheme.},
   issn = {2088-5334},
   publisher = {INSIGHT - Indonesian Society for Knowledge and Human Development},
   url = {http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=4322},
   doi = {10.18517/ijaseit.8.2.4322}
}

EndNote

%A Wirahadikusumah, Reini D.
%A Sapitri, -
%A Susanti, Betty
%A Soemardi, Biemo W.
%D 2018
%T Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective
%B 2018
%9 toll road; government’s estimate; risk; investor; mitigation.
%! Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective
%K toll road; government’s estimate; risk; investor; mitigation.
%X The government’s estimate for toll road concession award, as a comparator for investors’ bids, has been criticized by investors, as it does not fully include the proper cost of risks. Thus, there is a need to develop a more equitable estimate that considers the risks, both at the project and at the business/corporate level. The study was mainly supported by qualitative data on the probability of occurrences and impact assessment of risks, acquired through interviews with major investors. Probability Impact Matrices were used to identify risks categorized as “high risks.” Findings have indicated that the high and dominant risks are: i) Route/traffic management (lower traffic volume due to changing routes); ii) Overloading (poorly imposing the limitations of heavy vehicles); and iii) Inadequate/inaccurate data in feasibility study documents. Recommendation on the mitigation plan for these risks has been corroborated by both parties, the government, and the investors. Parts of the risk are proposed to be incorporated into the government’s estimate, while other risks should be adequately addressed in specific contract clauses for Indonesia’s PPP scheme.
%U http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=4322
%R doi:10.18517/ijaseit.8.2.4322
%J International Journal on Advanced Science, Engineering and Information Technology
%V 8
%N 2
%@ 2088-5334

IEEE

Reini D. Wirahadikusumah,- Sapitri,Betty Susanti and Biemo W. Soemardi,"Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective," International Journal on Advanced Science, Engineering and Information Technology, vol. 8, no. 2, pp. 475-482, 2018. [Online]. Available: http://dx.doi.org/10.18517/ijaseit.8.2.4322.

RefMan/ProCite (RIS)

TY  - JOUR
AU  - Wirahadikusumah, Reini D.
AU  - Sapitri, -
AU  - Susanti, Betty
AU  - Soemardi, Biemo W.
PY  - 2018
TI  - Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective
JF  - International Journal on Advanced Science, Engineering and Information Technology; Vol. 8 (2018) No. 2
Y2  - 2018
SP  - 475
EP  - 482
SN  - 2088-5334
PB  - INSIGHT - Indonesian Society for Knowledge and Human Development
KW  - toll road; government’s estimate; risk; investor; mitigation.
N2  - The government’s estimate for toll road concession award, as a comparator for investors’ bids, has been criticized by investors, as it does not fully include the proper cost of risks. Thus, there is a need to develop a more equitable estimate that considers the risks, both at the project and at the business/corporate level. The study was mainly supported by qualitative data on the probability of occurrences and impact assessment of risks, acquired through interviews with major investors. Probability Impact Matrices were used to identify risks categorized as “high risks.” Findings have indicated that the high and dominant risks are: i) Route/traffic management (lower traffic volume due to changing routes); ii) Overloading (poorly imposing the limitations of heavy vehicles); and iii) Inadequate/inaccurate data in feasibility study documents. Recommendation on the mitigation plan for these risks has been corroborated by both parties, the government, and the investors. Parts of the risk are proposed to be incorporated into the government’s estimate, while other risks should be adequately addressed in specific contract clauses for Indonesia’s PPP scheme.
UR  - http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=4322
DO  - 10.18517/ijaseit.8.2.4322

RefWorks

RT Journal Article
ID 4322
A1 Wirahadikusumah, Reini D.
A1 Sapitri, -
A1 Susanti, Betty
A1 Soemardi, Biemo W.
T1 Risk in Government’s Estimate for Toll Road: Based on Investors’ Perspective
JF International Journal on Advanced Science, Engineering and Information Technology
VO 8
IS 2
YR 2018
SP 475
OP 482
SN 2088-5334
PB INSIGHT - Indonesian Society for Knowledge and Human Development
K1 toll road; government’s estimate; risk; investor; mitigation.
AB The government’s estimate for toll road concession award, as a comparator for investors’ bids, has been criticized by investors, as it does not fully include the proper cost of risks. Thus, there is a need to develop a more equitable estimate that considers the risks, both at the project and at the business/corporate level. The study was mainly supported by qualitative data on the probability of occurrences and impact assessment of risks, acquired through interviews with major investors. Probability Impact Matrices were used to identify risks categorized as “high risks.” Findings have indicated that the high and dominant risks are: i) Route/traffic management (lower traffic volume due to changing routes); ii) Overloading (poorly imposing the limitations of heavy vehicles); and iii) Inadequate/inaccurate data in feasibility study documents. Recommendation on the mitigation plan for these risks has been corroborated by both parties, the government, and the investors. Parts of the risk are proposed to be incorporated into the government’s estimate, while other risks should be adequately addressed in specific contract clauses for Indonesia’s PPP scheme.
LK http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=4322
DO  - 10.18517/ijaseit.8.2.4322