IIM Lucknow and Indian Institute of Management Ranchi researchers have developed a framework to strengthen governance in Public-Private Partnership (PPP) projects.
The researchers have taken up a collaborative study. There is more to it than meets the eye as far as the study in concerned.
PPP Projects significant role
PPP projects play a significant role in infrastructure development but such projects often face challenges such as contract disputes, investment risks, Institutional gaps, and other issues such as transparency, trust, and integrity.
Though these projects are recognised globally, there is a pressing need for a comprehensive framework that can enable managers to design and monitor accountability across the entire project lifecycle, say sources from IIM Lucknow.
Assistant Professor at IIM Lucknow
To address this gap, Prof. Dipti Gupta, Assistant Professor, IIM Lucknow, along with Prof. Santosh Kumar Prusty, Assistant Professor, IIM Ranchi, have developed a PPP Accountability Framework that combines theoretical drivers such as trust, dialogue, multi-dimensionality, and external control.
Built Environment Project and Asset Management journal
Published in the reputed journal Built Environment Project and Asset Management, the research draws on real-world PPP cases to integrate accountability-related themes such as transparency, integrity, responsibility, and performance, say sources from IIM Lucknow.
Key highlights
Key highlights of the developed framework include:
+ Facilitates the assessment and monitoring of PPP projects by designing suitable accountability governance policies
+ Can design internal and external control mechanisms through stakeholders’ dialogue and collaborative decision-making methods, which can enhance transparency, trust, responsibility, and integrity
+ Can be used by policymakers in defining risk-sharing policies and contract management strategies across multiple dimensions of accountability in PPP
Potential
Prof. Dipti Gupta of IIM Lucknow spoke about the potential real-world application of the developed framework.
Prof Dipti said the proposed accountability framework provides multifaceted implications for policymakers managing PPP projects such as maximum public display and media coverage of complete information, following joint decision-making process, clarifying individual responsibility, and continuous external and internal review of performance.
Policymakers
The developed framework can be used by the policymakers, regulating authorities, and project managers in designing accountability governance policies, risk-sharing mechanisms, and performance management systems for PPP projects.
By fostering transparency and trust, the framework enables better stakeholder participation and enhances the long-term sustainability of public infrastructure projects.
About IIM Lucknow
Indian Institute of Management Lucknow, established in 1984, is the fourth in the prestigious IIM family of management schools to be established in India after IIM Calcutta, IIM Ahmedabad, and IIM Bangalore.
In 2005, IIML expanded its area of influence in the realm of management education by becoming the first IIM to set up a satellite campus exclusively for Executive Education at NOIDA in Delhi NCR region.
IIML is accredited by AACSB and AMBA while its EQUIS Accreditation is ongoing. The institute features in the prestigious FT -100 Top Global Business schools for both the 2-year Flagship PGP program and One-year IPMX Program.
It is also consistently ranked amongst top business schools in the NIRF Rankings. IIML was the first IIM to start a 2-year full time MBA program in Sustainable Management 8 years back. It also has a long-standing full-time MBA program in Agri Business Management.
Throughout its last 41 years’ journey IIML has touched millions of lives through its academic programs, executive education programs, research and consulting.
The centres for excellence at IIM Lucknow including the Centre for Public Policy, Centre for Food and Agribusiness Management, Centre for Business Sustainability, Centre for Marketing in Emerging Economies, to name a few, regularly carry out evidence-based research and interventions in public policy and management practice.
Faculty of IIM Lucknow also feature in top 2% of global scientists for research output and impact.
The alumni of IIM Lucknow now occupy top positions in the world of business, public policy and in several other fields.
Situated in a city known for its cultural heritage, the campus is spread over more than 190 acres of beautifully landscaped area. With its foundation in the city of “Tehzeeb”, IIM Lucknow inculcates human values and professional ethics in the students to help them make a positive impact not just on the nation but on a global platform. IIM Lucknow has an ideal setup conducive to learning, accessibility and excellence.
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