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The build‐operate‐transfer (BOT) concept represents a step forward in meeting the needs of developing countries for more capital investments in infrastructure and industrial construction. However, for a private‐sector consortium bidding for a BOT concession, the road to winning a major BOT contract is not easy. The consortium must be willing to take calculated risks and at the same time be adaptable to changing demands and circumstances in the host country. This paper describes the importance and characteristics of six critical success factors (CSF) that are vital for project sponsors in their endeavors to win lucrative BOT contracts. These factors are: entrepreneurship, picking the right project, a strong team of stakeholders, an imaginative technical solution, a competitive financial proposal, and the inclusion of special features in the bid.
Tiong et al. (Mon,) studied this question.