A theoretical approach to the study of public-private partnership in the social sphere

Abstract

Importance: the further development of public-private partnerships (PPP) faces the need for theoretical understanding of the accumulated contradictions associated with the choice of economically attractive areas of activity for such partnerships and the value orientation of involved stakeholders. This is most expressed in public-private partnerships established in the social sphere. Purpose: formation of a theoretical approach to the study of public-private partnerships, which allows to justify the main criteria for its assessment in terms of achieving sustainable development goals and satisfaction of stakeholders. Research design: the modern content of PPP in the social sphere is revealed based on a synthesis of the concepts of resource theory, risk management, project management, stakeholder theory, and the theory of sustainable development. Stakeholder participation in PPP is structured according to the stages of the project management life cycle: initiation; planning; execution; monitoring and control; completion. Results: the article clarifies the content of publicprivate partnership with a social orientation and proposes a matrix for analyzing the degree of stakeholder involvement at all stages of the life cycle of PPP projects in the social sphere. The results of the study contribute to the development of research on public-private partnerships and will be useful for making decisions on updating public policy in this area.