Andreas Wibowo

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• Prof. (Research) Dr.-Ing. habil. Ir.
• Senior Lecturer at Parahyangan Catholic University

Applying the adjusted present value method enables the estimation of the general minimum traffic levels for the first year of operation required to make typical Indonesia's build, operate and transfer (BOT) toll road projects financially feasible. To determine the level, both average business risk as reflected by the opportunity cost of capital in...

Public–private-partnership (PPP) infrastructure projects typically involve a plethora of risks. Given that many risks which are traditionally borne by the government get transferred to the private sector, careful risk allocation is considered to be the key to successful PPP projects. This paper focuses on the current risk allocation practice within...

Driven by acute fiscal problems and disenchantment with the performance of publicly delivered quality services, many governments in both industrial and developing countries are now relying on the private sector to deliver infrastructure services. In the context of private infrastructure financing, the provision of governmental support is not uncomm...

Host governments often provide guarantees in build-operate-transfer (BOT) infrastructure projects to attract private sector investors. Problems arise because the governments often do not know the full extent of contingent liabilities when issuing guarantees, and because they account and record guarantee costs only when guarantees come due. This pap...

If a project is implemented using a project-finance approach, the debt service payment relies solely on the project cash flows and its assets. This paper identifies, quantifies, and evaluates major financial risks associated with project-financed toll road projects in Indonesia. Ordering payments by priority level, subject to cash availability, ena...

The design-build (DB) contract has become one of the most popular methods for delivering projects in the public and private sectors because it provides several advantages over the conventional design-bid-build system in terms of time and cost savings. However, despite the widespread use of this form of contract, empirical evidence demonstrates that...

This paper aims to elucidate the phenomenon of cost overruns resulting from government-led risks, with a specific focus on contract changes within the context of 70 Indonesian toll road projects. The dataset demonstrates a broad spectrum of cost overrun rates (COR), from −34.43% to 356.54%, with a median of 0.00% (mean = 14.83%). Empirical evidence...

Purpose This paper delves into the ex ante rates of return demanded by the private sector in Indonesian public–private partnership (PPP) infrastructure projects and the manifold factors emanating from project attributes that can influence these rates. Design/methodology/approach This paper analyzes feasibility studies of 37 PPP projects across dif...

Indonesia has long seen the public-private partnership (PPP) as a viable option to help address the shortage of water supply due to a lack of public funding capacity. However, attracting the private sector to participate in the water supply system is far from simple, despite enormous investment opportunities. This chapter discusses the sector’s iss...

Building Information Modeling (BIM) implementation in the Indonesian construction industry is still regarded as very low although it is not new and potentially offers greater efficiency and performance gain during the design and construction stage. The available literature of BIM application in the Indonesian construction industry is also scanty. T...

This study aims to identify the factors expected to drive value for money (VfM) when using public-private partnerships (PPPs) for affordable housing in Indonesia. It utilises economy, efficiency, and effectiveness as the VfM criteria and employs the analytic network process to determine the relative importance of 13 factors compiled from the litera...

Manajemen risiko memiliki peran vital menentukan keberhasilan proyek infrastruktur menggunakan skema Kerja Sama Pemerintah dengan Badan Usaha (KPBU). Banyak penelitian yang sudah dilakukan terkait risiko yang terjadi pada proyek KPBU. Namun, penelitian yang didedikasikan untuk mengases faktor risiko dengan mempertimbangkan interdependensi antarfakt...

Existing models have failed to capture the stochastic nature of input variables for the value-for-money (VfM) analysis in build-operate-transfer (BOT) infrastructure projects. The present study aims to address this knowledge gap by offering a VfM-at-risk analysis model and developing a stochastic-based model that takes account of the risk allocatio...

The Government of Indonesia implemented the Build, Operate, and Transfer (BOT) model, relying on private investment to bridge the financing gap in developing public infrastructure facilities, including toll roads. Toll road investments, like other greenfield infrastructure projects, are typically characterized by high project risk, which discourage...

The Government of Indonesia implemented the Build, Operate, and Transfer (BOT) model, relying on private investment to bridge the financing gap in developing public infrastructure facilities, including toll roads. Toll road investments, like other greenfield infrastructure projects, are typically characterized by high project risk, which discourage...

Information technology and the Internet of Things are developing rapidly, resulting in changes in all fields, including monitoring and testing bridges. Structural Health Monitoring (SHM) is currently an alternative to replace conventional visual inspections. This study aims to determine trends in the use of Structural Health Monitoring on bridges,...

Menentukan tarif tol yang wajar untuk menarik pembiayaan swasta di sektor jalan tol merupakan isu yang penting. Namun, studi eksisting untuk menyelesaikan isu ini masih belum tersedia. Tulisan ini bertujuan mengisi kekosongan pengetahuan tersebut dengan menawarkan model parametrik untuk mengestimasi batas atas dan bawah tarif tol menggunakan Stocha...

Determining a fair toll rate is essential to attract private financing in the toll road sector. However, there is a paucity of existing studies in this area of investigation. Therefore, this paper aims to fill this knowledge gap by offering a parametric model to estimate upper and lower toll rate frontiers using the Stochastic Frontier Analysis. Th...

INTISARI Permasalahan mengenai produktivitas tenaga kerja konstruksi masih sering terjadi di sejumlah negara. Artikel ini bertujuan untuk mengidentifikasi dan menjelaskan faktor-faktor yang mempengaruhi produktivitas tenaga kerja di industri konstruksi. Selain itu, artikel ini menjelaskan mengenai perkembangan publikasi yang telah berkontribusi ter...

There is a continuous increase in the investment gap between government financing and infrastructure development. Therefore, to reduce this gap, the government used the services of the private sector to participate in infrastructure development under the public-private partnership (PPP)Public-private partnership (PPP). However, this scheme tends to...

Public-Private Partnership (PPP) scheme has been widely adopted in both developed and developing countries to fulfill the need of infrastructure facilities such as toll roads and water supply. In Indonesia, another sector that would be feasible to be developed using the scheme is the energy sector through Waste to Energy (WTE) projects. However, th...

This paper proposes a quantitative methodology for ex-ante value-for-money (VfM) assessment to select the best modality option between conventional procurement and public-private partnership under the availability payment model for infrastructure provision within the Indonesian context. The proposed methodology incorporates efficient risk allocatio...

In order to increase the role of private sector in infrastructure implementation in Indonesia, the Indonesia government facilitates Public-Private Partnership (PPP), such as by providing Viability Gap Funding (VGF) in the form of construction grants. Some projects get a construction grant but in toll road investment, the support is provided in anot...

This paper proposes a new definition of reasonable bid ratios - a ratio of bid price to published owner cost estimate - under the capped lowest-cost bidding system and provides a closed-form solution to determine the ratios for a given number of bidders. Bid ratios are assumed to be random, obeying two-sided power distribution (TSP). A reasonable b...

One of the financing schemes in providing an infrastructure project is a public-private-partnership (PPP). PPP is an implementation option and infrastructure service that provides incremental benefits as well as private financing access to promote the government. This study aims to provide a new concept that combines PPP with society (people) to be...

There are three main problems with the existing toll road financing model in Indonesia. First, there are limitations, and the fund disbursements take a rather long time in the state budget fund allocations for land acquisition. Second, there is inability to have long-term financing. Third, there are banking limitations in the borrowing tenor period...

A significant construction activity, especially for developing toll roads, is land acquisition. Due to pending issues regarding land acquisition, many construction projects have not been finished as well as financiers have been unable to pay their outstanding debts. Land acquisition is a very complex issue, although the government has overcome this...

Di Indonesia, Panduan Pemeriksaan Jembatan Direktorat Jenderal Bina Marga 1993 sampai dengan saat ini masih digunakan sebagai panduan dalam melakukan pemeriksaan jembatan. Namun, panduan tersebut tidak menyediakan pendekatan sistematis mengintegrasikan hasil penilaian dari hierarki terendah ke hierarki yang lebih tinggi sehingga mengakibatkan penil...

In greenfield toll-road projects, financial sustainability has been a major issue. Many toll roads cannot be operated. Although most of Indonesia's 24 toll road concessions have already been signed by the Toll Road Authority, most of them were caused by financing problems. Three problems have been identified as potential sources of this unsustainab...

This paper proposes a new toll road financing model, which is a hybrid model of deep discount project bonds (DDPBs) and land leases for new toll road projects in Indonesia. We used a qualitative method to build the model based on existing literature. This concept was then utilized to conduct in-depth interviews with experts. Subsequently, the model...

This paper presents a self-assessment model to measure the risk management (RM) maturity level of construction public client organizations within the Indonesian context. It used a mixture of Delphi method to select and validate the most relevant attributes and Analytical Hierarchy Process (AHP) to assign the weights of the selected attributes. A to...

VGF policy for toll road investment in Indonesia must be reviewed. Since 2012 the Government of Indonesia (GOI) has issued viability gap funding (VGF) policy for PPP infrastructure project through ministry of finance decision (PMK) No.223/2012. One of VGF purpose is to improve the financial feasibility. In the toll road investment in Indonesia, the...

One of the largest impediments to toll road development is land acquisition. In an ideal perspective, the required land should be acquired before a toll road project begins. However, the reality often does not meet the expectation. The government which should accept the liability in the first place, often finds it difficult to afford it. Given the...

This paper presents a critical review of the development of state of the art of research in construction risk management based on a bibliometric analysis on 243 articles published in six renowned international construction journals during the years 2005–2015. The analysis demonstrated that the authorship of risk management research was dominated by...

Having innovative financing is one of the most important measures in accelerating public infrastructure development, including toll roads. One innovative financing instrument that has been gaining widespread acceptance is deep-discount project bonds (DDPBs) which do not pay any interest. While this instrument has great potential, the growing body o...

There are three main problems in Indonesia toll road financing model. First, it is the lack of state budget and delayed funding distribution for land acquisition. The second problem is the lack of financial ability of the winning company which leads to financial closing failure. The third problem is related to the land acquisition process that a sp...

There are three main problems in Indonesia toll road financing model. First, it is the lack of state budget and delayed funding distribution for land acquisition. The second problem is the lack of financial ability of the winning company which leads to financial closing failure. The third problem is related to the land acquisition process that a sp...

ABSTRAK Partisipasi badan usaha dalam penyelenggaraan infrastruktur di Indonesia sangat dibutuhkan. Tulisan ini memaparkan perkembangan terkini dalam pembiayaan proyek-proyek infrastruktur yang melibatkan badan usaha, khususnya untuk proyek-proyek yang direalisasikan menggunakan skema Kerjasama Pemerintah dan Badan Usaha/Swasta (KPBU/KPS). Dua foku...

This paper examines returns to scale in building constructions in Indonesia based on large sample sizes of different project types (i.e., hotel or apartment, hospital, office, campus, and plant). The analysis demonstrates that costs tended to vary with sizes at a constant rate, as shown by cost capacity factors close to unity, with the exception of...

We developed a model to predict the probability that Indonesian municipal water utilities would default on their payments to the central government. This model was based on 126 real cases (57 non-default and 69 default cases). We used two indicators, financial strength and technical efficiency. The former was based on linear combinations of operati...

The financial sustainability has been a major issue in greenfield toll-road projects. Most of Indonesia’s 24 toll road concessions already signed by Toll Road Authority, for instance, cannot be put in operation because of financing problems. Uncertainties of long-term project revenues, limitation of budget provided by governments, inadequate govern...

Purpose – The purpose of this paper is to present a yardstick efficiency comparison of 269 Indonesian municipal water utilities (MWUs) and measures the impact of exogenous environmental variables on efficiency scores. Design/methodology/approach – Two-stage Stackelberg leader-follower data envelopment analysis (DEA) and artificial neural networks...

Purpose – The purpose of this paper is to identify 30 government-led critical success factors (CSFs) from both the meso and micro levels in public-private partnership (PPP) infrastructure development, measured the importance of these factors, and evaluated the government performance within the Indonesian context. Design/methodology/approach – The...

Sektor bangunan gedung memberikan kontribusi signifikan terhadap kerusakan lingkungan. Penerapan konsep bangunan hijau merupakan salah satu cara meminimalkan dampak kerusakan lingkungan yang disebabkan sektor ini. Penelitian ini bertujuan untuk memeroleh sistem Rating bangunan hijau, berdasarkan metode Delphi. Survei dilakukan dalam 3 (tiga) tahap...

Purpose – The purpose of this paper is to identify macro-environmental critical success factors (CSFs) and key areas for improvement for public-private partnerships (PPP) in infrastructure development, using Indonesia as a case study. Design/methodology/approach – The methodology includes the definition of CSFs based on the United Nations for Econ...

Penelitian ini memaparkan hasil penelitian besaran kesediaan membayar Willingness To Pay (WTP) oleh pekerja konstruksi atas asuransi keselamatan dan kesehatan kerja (K3) mandiri hipotetik. Penelitian ini didasarkan survei menggunakan format Stated Preference dengan pendekatan metode Contingent Valuation di lima proyek konstruksi gedung di Kota Band...

Purpose The present paper aims to introduce a new methodology taking risk behavior of decision maker into account to fine‐tune the value of a risky public‐private‐partnership (PPP) project and the corresponding cost of capital based on the target rate of return set by the project sponsor and the degree of project risks. Design/methodology/approach...

Salah satu isu program pembangunan rumah nasional bagi masyarakat berpenghasilan rendah adalah menentukan indeks biaya konstruksi (IBK) yang berlaku untuk suatu daerah atau waktu tertentu. Sejauh ini belum ada IBK yang dipublikasikan, baik oleh instansi Pemerintah atau lembaga lainnya. Tulisan ini menyajikan diskursus penyusunan IBK spesifik untuk...

Preliminary cost estimates play an important role in project decisions at the beginning of design phase of construction project under a limited definition of scope and constraints in available information and time. This study proposes a new approach of preliminary cost estimation model using regression analysis incorporated with adaptive neuro fuzz...

By the end of 2010, the Government of Indonesia (GoI) issued a new regulation on government guarantee provision to protect project sponsors from government-related project risks in public-private partnered (PPP) infrastructure development. Whereas the provision of guarantees can help improve the creditworthiness of PPP projects, it also may expose...

Tulisan ini membahas peran penting yang dimainkan inflasi dalam analisis kelayakan proyek investasi jalan tol yang diselenggarakan dengan kontrak build, operate, transfer (BOT) dikaitkan dengan rejim tarif yang berlaku saat ini di industri jalan tol nasional dan kewajiban kontingensi pemerintah dari dukungan yang diberikan kepada badan usaha. Konve...

This study aims to assess and allocate the key risk events for public-private partnerships in Indonesian tollway construction and operation. The data were collected from a risk assessment survey of tollway companies in Indonesia based on two perspectives: the degrees of occurrence and impact. The top-ranked risk events (18 out of 55 risks) generate...

Salah satu faktor mendasar yang perlu dipertimbangkan saat menawarkan proyek-proyek jalan tol ke sektor swasta adalah bahwa proyek tersebut harus layak secara finansial. Dalam konteks yang lebih sempit, keatraktivan biasanya diukur dari NPV atau IRR. Dengan demikian isu menentukan tingkat diskonto atau minimum acceptable/attractive rate of return y...

Guarantee provision in privately financed infrastructure projects implemented as build-operate-transfer/public-private-partnership (BOT/PPP) arrangements is not uncommon in many countries, and Indonesia is no exception. But, given that the government budget is, in most if not all cases, not unlimited, there must be a selection of BOT/PPP projects p...

Ketersediaan infrastruktur yang andal dan memadai mempunyai peranan substansial bagi pertumbuhan ekonomi nasional. Namun demikian kebutuhan dana untuk investasi di sektor ini sangat besar yang tidak mampu sepenuhnya ditanggung oleh Pemerintah sendiri. Di sinilah peran sektor swasta sangat diharapkan untuk menutup kesenjangan finansial yang ada mela...

Abstrak. Struktur modal adalah salah satu isu paling relevan dalam pendanaan proyek infrastruktur publik yang melibatkan sektor swasta. Ada tiga pihak berkepentingan dengan struktur modal ini: pemerintah selaku pemegang otoritas, sponsor proyek, dan kreditor. Khusus bagi sponsor proyek dan kreditor, struktur modal yang dipilih menentukan risiko cas...

Abstrak. Tulisan ini menyajikan suatu sistem alternatif regulasi tarif yang mengkombinasikan fitur dari sistem price-cap traditional dan sistem rate-of-return untuk proyek privatisasi infrastruktur. Sistem yang diusulkan memang membatasi laju pengembalian yang dapat dinikmati investor tetapi memberikan proteksi kepada investor dari risiko laju peng...

Abstrak. Tulisan ini membandingkan hasil perhitungan menggunakan pendekatan simulasi dan analitik dampak konsumsi waktu ambang aktivitas nonkritis terhadap skedul dan biaya proyek. Dasar teori yang digunakan untuk analisis adalah teori reliabilitas yang populer dikombinasikan dengan beberapa pendekatan seperti probabilistic network evaluation techn...

Menentukan profit yang wajar masih menjadi salah satu isu penting dalam industri konstruksi, khususnya untuk proyek-proyek pemerintah. Namun sayangnya Keppres No. 80 tahun 2003 yang mengatur pengadaan proyekproyek publik pun tidak mendefinisikan secara spesifik kewajaran profit. Tulisan ini mempresentasikan pengembangan model penentuan rentang prof...

Tulisan ini mendiskusikan struktur dan kinerja sektor industri konstruksi sebelum dan setelah krisis moneter 1997/8 secara kuantitatif men ggunakan model input-output (I-O). Data yang digunakan adalah data I-O tahun 1990, 1995, 2000, dan 2003 dari Badan Pusat Statistik. Analisis I-O menunjukkan tidak terjadi perubahan berarti dalam hal efisiensi, p...

A Public-Private-Partnership (PPP) water supply project typically involves a plethora of risks. Because a PPP is nothing other than a transfer of project risks traditionally borne by the government to the private sector, proper risk identification and allocation is a key to successful PPP project implementation. This paper presents and discusses th...

The desired accuracy level of an estimate heavily relies on the availability of data and information at the time of preparing the estimate. However, an estimate often must be made when data and information are not complete. At earlier stages of project implementation at which data and information are minimal, a client is often required to prepare a...

Zugl.: Berlin, Techn. Univ., Diss., 2005.

Program Evaluation Review Technique %28PERT%29 is a scheduling method that consider the uncertainty of the duration of an activity. It assumes a probability density function with a beta distribution. PERT simplifies the analysis using specific values of parameters of beta distribution. The analysis of critical paths consider the mean of the duratio...

ABSTRAK Keputusan strategis investasi modal pada proyek infrastruktur menjadi sangat krusial dan membutuhkan suatu analisis dan pertimbangan yang mendalam. Hal ini terkait dengan karakteristik proyek infrastruktur yang sangat rentan terhadap risiko dan ketidakpastian. Model NPV-at-Risk dikembangkan oleh Ye dan Tiong (2000) sebagai alat penilaian ke...