Abstract
While the significance of Public-Private Partnership (PPP) Projects for sustainability is well-recognized in the literature, a notable gap exists in examining the sustainability challenges these projects face across various sectors. Current research often emphasizes financial and operational risks, neglecting the broader environmental and social dimensions essential for comprehensive sustainability in PPP projects. Moreover, the strategies for managing these challenges are fragmented and typically reactive, limited to specific project stages. Contemporary theories such as Responsible Innovation, Value Sensitive Design and Inclusive Stakeholder Engagement provide essential perspectives on incorporating sustainable value in PPPs to enable adaptability to emerging sustainable challenges. However, the application of these principles throughout the entire lifecycle of PPP projects is sporadic and reactive. Addressing these gaps, this study systematically reviews 116 articles to explore: How can a holistic approach, emphasizing sustainable value integration, inclusive stakeholder engagement, and strategic agility, proactively enhance sustainability throughout the entire lifecycle of PPP projects? Specifically, the study aims to:
- Categorize the spectrum of sustainability challenges within PPP projects across different sectors.
- Systematically evaluate current methodologies and strategies, pinpointing the underlying principles.
- Propose a framework that enhances existing practices by embedding sustainable value integration, inclusive stakeholder engagement and strategic agility through proactive risk management across PPP design and management.
This leads to the development of the Inclusive Sustainable Value Response (ISVR) framework, synthesizing systematic review findings with theoretical insights. The ISVR framework is built on four foundational pillars: 1) Sustainable Value Integration, 2) Inclusive Stakeholder Engagement, 3) Strategic Agility through Proactive Risk Management, and 4) Holistic Integration across the Lifecycle. These pillars collectively ensure that PPP projects are not only designed and managed with sustainability as the forefront consideration but are also equipped to navigate the complexities of sustainable development dynamically and inclusively. As such, the study contributes to the theoretical expansion of sustainability in PPP projects, demonstrates practical application models, and informs policy implications for sustainable public and private collaborations. These contributions underscore the study's impact on both academic literature and practical, policy-driven sustainable development in PPPs.