Ex-post impact evaluation of PPP projects from multiple stakeholder perspectives: a toll road case

PurposeThis study aims to develop an ex-post impact evaluation method for public-private partnership projects (PPP) that addresses one of its main difficulties: the multiplicity of perspectives and stakeholders that exist in these projects.Design/methodology/approachThis study first developed a conceptual evaluation framework called ‘Project Success Evaluation Pyramid Model’ (PSEPM) that was designed using a Design Science approach. Second, an impact evaluation method was designed based on the PSEPM. This evaluation method was tested and refined using three PPP projects. This article presents the refined conceptual model PSEPM, the evaluation method and one of the three tests: the PPP toll road.FindingsThe impact evaluation method describes how to evaluate the impact of an existing mega project from the perspective of multiple stakeholders and isolate the impact of the procurement method. Its application in practice is demonstrated with a PPP toll road project in Chile, in which 11 stakeholders were identified. Issues such as city segregation, deficient business model, the relevance of infrastructure availability, and deficient service-fee strategy were identified in the project. The evaluation method provides a judgement about the use of the PPP procurement method and about the overall impact of the project, reconciling the stakeholder perspectives.Originality/valueThe use of this approach could give greater clarity and legitimacy to the discussion over the use of PPPs by evaluating existing projects beyond the use of traditional time and cost measurements. Its originality is the systematic recognition and identification of stakeholder motives, purposes, and judgements over a project.