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Copyright of Business: Theory & Practice is the property of Vilnius Gediminas Technical University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Public Security & Public Order / Visuomenes Saugumas ir Viesoji Tvarka is the property of Mykolas Romeris University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article covers an extensive concept of partnership of private and public sectors. The authors emphasize an intermediate case existing between public procurement and privatization. The paper also give a broad overview of risks and their management related to the PPP projects. The idea of the necessity of the public sector to transfer risk to the private one maintaining the controlling function is emphasized. By applying Great Britain's example, the authors reveal some of the aspects of an effective management of PPP projects. Private companies are seen as entities that are capable of implementing projects in a faster way. The article presents some guidelines for the PPP improvement in Lithuania. The necessity of law and institution as well as the issues related to projects differentiation according to the types, responsibility and accountability is emphasized. [ABSTRACT FROM AUTHOR]