Identification and ranking of critical success factors for BOT projects in India

Purpose - The study aims to identify and rank the critical success factors (CSFs) for BOT projects in India. Design/methodology/approach – The study was conducted based on an extensive literature review and focus group discussions. Through structured questionnaire, a survey was conducted with executives from leading construction, consultancy and government organizations. A total of 150 questionnaires were sent out of which 60 responses were received. Analytical hierarchy process method was used to analyze the data. Findings – Concession agreement, short-construction period, selection procedure of concessionaire, sufficient long-term demand and sufficient net cash inflow emerged as the top five factors critical for the success of the BOT projects in India. Practical implications – The identified CSFs should influence the policy development towards BOT projects and are expected to enhance the success rate of these projects. Originality/value – The study has made much-needed contribution to the extant literature on BOT projects. The findings would be valuable in assisting government (owner) and private participants to have a better understanding of the critical factors leading to success of these projects. The results from the current study are crucial as not many studies have been conducted in India as compared to China and West.