Social Risk Factors of Transportation PPP Projects in China: A Sustainable Development Perspective.

Public-private partnerships (PPPs) have become increasingly important in improving the sustainability of society in China, with transportation being the largest investment area. However, the Social Risk Factors (SRFs) of transportation PPPs in China, which serve as a useful tool for distinguishing strengths and weaknesses for effective social risk management (SRM), have not been clearly identified. A conceptual model including 3 risk dimensions and 15 SRFs was proposed to mitigate social risks and improve the social sustainability of transportation PPP projects. A questionnaire survey conducted to investigate stakeholders’ opinions on the proposed SRFs demonstrated that all the SRFs were important. The SRFs can be used to evaluate social risks from economic, environmental, and social dimensions. Confirmatory factor analysis (CFA) verified the classification of the SRFs and indicated that all the risk dimensions contributed to social risks. The social and environmental impacts on social sustainability may contribute more to the generation of social risks. Furthermore, the concept of people-first PPPs was proposed to reduce social risks from the perspective of different stakeholders, with the interactions among different stakeholders being prioritized. The identified SRFs and their relationships can improve our understanding of SRM in the delivery of social sustainability and improve social resilience.