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Risk assessment of public-private partnership in Russia based on the fuzzy logic method

This paper is the first to assess the integral level of risks in public-private partnership (PPP) projects being implemented in Russia, taking into account the stages of project implementation. The results of empirical assessments have shown that the aggregate risk level is now estimated by experts as high. The key risks are incorrect assessment of project parameters, possible change of tariffs as well as risks related to the construction stage and demand for services. The majority of risk factors in PPP projects are of sectoral, project-level nature and are not related to economic, political or legal conditions. The study has shown differences in the structure of risks that partnership subjects are willing to take and transfer to another party, which has allowed to justify the distribution of risks among participants.