Stakeholder Perspectives in Value for Money Assessment for Public-Private Partnership Infrastructure Projects

This study investigates stakeholder alignment dynamics in Value for Money (VfM) assessment for Public-Private Partnership (PPP) infrastructure projects, addressing how diverse stakeholder perspectives converge or diverge during project evaluation. Employing a mixed-methods research design, this study analysed quantitative survey data from 307 stakeholders (public sector representatives, private developers, financiers, and community leaders) and qualitative insights from 15 semi-structured interviews. Data analysis utilized Relative Importance Index (RII) analysis complemented by thematic analysis of interview transcripts. Results reveal significant stakeholder priority variations: public sector entities emphasize strategic alignment and socioeconomic benefits (RII = 0.908 and 0.852 respectively), private partners prioritize profitability and risk mitigation (RII = 0.898 and 0.856), community stakeholders focus on service quality and affordability (RII = 0.920 and 0.900), while financiers emphasize project bankability (RII = 0.910). Despite these differences, strong overall alignment exists suggesting fundamental agreement on VfM principles. This research contributes actionable frameworks for enhancing stakeholder alignment through early engagement protocols, transparent procurement processes, and multi-dimensional assessment frameworks that balance financial, social, environmental, and governance dimensions.