Understanding of Public–Private Partnership Stakeholders as a Condition of Sustainable Development

Abstract

The strategic goal of city management is to ensure its sustainable development which requires a balance of rare resources. From the operational perspective, namely projects implementing sustainable development, the balance refers to human resources. They can be classified into the public or private sector and their cooperation is known as Public–Private Partnership (PPP). Building on the concept of sustainable development and stakeholder theory, the research develops a conceptual framework of stakeholder analysis in PPP projects. More generally, the research aims to contribute to a theoretical understanding of the determinants of sustainable city development and PPP success factors. The research claims that the PPP procurement is consistent with sustainable urban development and the PPP model, accompanied by the stakeholder theory, requires evaluation which balances diverse stakeholders’ interests along the triple bottom of sustainable development. The conceptual framework combines stakeholder attributes of preferred benefits and power and urgency. It includes a time and scope perspective. The research has a descriptive but also a normative character as the framework could be helpful to understand and engage stakeholders in sustainable urban development. The developed framework can be considered for the future construction of a model that can be implemented and tested. This theoretical research is based on a literature survey, applying methods of critical analysis and construction. The innovative approach of the research is based on integrated application of already known concepts of sustainable development, stakeholder theory, and Public–Private Partnership, which are all necessary to create a new approach to management of city development consistent with the known facts.