Ji Chuang Cheng Li Yuan Jingfeng Li Qiming
2013, 32(2):
0-0.
The
value of the Public-Private-Partnership(PPP)project is the most important issue
that all parties concern in the process of investment,construction,operation and
transfer of the project.In the PPP project life cycle,uncertainties brought abo
ut by the market environment,policies,and decision makers may affect the value o
f the project,which cannot be calculated through the traditional evaluation meth
od,such as Net Present Value method.However,Real Option method is very helpful i
n evaluating the uncertainties value of PPP project.Therefore,the general steps
of PPP project valuation method based on Fuzzy Real Option are proposed on the b
asis of the related research.And a fuzzy real option value model is developed.Ho
ng Kong Disneyland project(Stage Two)is implemented to demonstrate the accuracy
and usefulness of the model,and the value of this project is evaluated.