Complementarietà dei ruoli dei soggetti coinvolti in procedure di partenariato pubblico privato per l'efficacia degli interventi e la diversificazione dei rischi di mercato: analisi di fattibilità di un progetto di valorizzazione nella città di Roma

The present paper deals with the evaluation of the financial sustainability of a public property enhancement initiative, realized by a public-private partnership procedure. The development of the Discounted Cash Flow Analysis has provided for a preliminary phase in which the public and private subjects involved in the initiative have been identified, the respective roles have been specified and the costs and the revenues have been assessed. The research highlights the relevant support that, in the initial steps of the definition of an investment in public-private partnership, may result from the disaggregation and the specification of the different roles of all the subjects involved in the initiative. The functions mix provided by the enhancement process and the different management modalities allow the private investor to transfer the risks of the initiative to subjects most competent in their specific market sector. The performance indicators determined for the case study have outlined the financial feasibility of the investment for the private investor.