engleski

Involving Stakeholders in Risk Allocation of Public Investment Projects

Small urban areas are vulnerable to wrong strategic investment decisions due to their limited financial assets. Decision making in such environment is a complex task that requires the serious efforts of various stakeholders. Inappropriate decisions can cause catastrophic consequences and therefore they should be seen and treated as potential environmental and social disaster. In order to make small urban areas resilient of such conditions, proactive steps are first and last steps of defence. In public private partnership (PPP) projects both partners (private and public) are focused in delivering efficient and responsive services which meet public expectation. Public sector is often recognized as the most important PPP project stakeholder but one should have in mind other stakeholders as well. It is important to raise awareness of council officials and citizens of all outcomes of such investment project, and to include them into decision making process. One of the answers might be in multi-criteria methods, how opinions of public investment project stakeholders can influence the risks and projects success. Each stakeholder opinion was analyzed as distinct scenario discussing its strengths and weaknesses as unicriterion decision making, as well as altogether as multi-criteria decision making. The findings revealed the importance of involving all stakeholders in decision making process.

Project management; Multi-criteria methods; Investment projects; PPP; Decision making

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