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Kirytopoulos, K. 2008, 'No bee no honey, no risk no money!', Proceedings of the 22nd IPMA World Congress, International Project Management Association, Rome 9-11 November, 355-360.

Abstract: Although common in Europe, public private partnerships (PPP) and private finance initiatives (PFI) have lately made their appearance in Balkans. This presentation aims to explore major risks in such projects and examines their allocation pattern from the contractor's perspective. The data for this research was gathered through in depth interviews with project managers from the top construction companies in Greece, with extended experience of PPP/PFI projects in Greece, Balkans and the Middle East. Among the basic findings of this work is that construction companies are expanding from the typical construction to operations, as they rate operational risks at least as equally important as construction risks. For instance, political violence and new market trends (operational risks) in PPP/PFI projects are rating as equal important to problematic construction designs (construction risk). The presentation concludes with a risk sharing policy that can be used as a basis for negotiations concerning the risk sharing between the government and the contractor.