Determination of risk factors in build-operate-transfer type projects: 1915 Çanakkale Bridge case

The Build-Operate-Transfer model is gaining more and more importance today as a method that enablesthe use of the financial and operational capacity of the private sector in the realization of public services and infrastructure projects. This model offers the advantages of providing long-term financing and completing projects on time, without creating a burden on the public budget in the short term. Rapidly increasing infrastructure needs and limited financial resources of the public in developing countries such as Turkey are among the main reasons why the build-operate-transfer model has become popular. With this model, large-scale projects have been implemented in various sectors such as transportation, energy, education and health, and these projects have made significant contributions to the socio-economic development of the country. Projects implemented with the BOT model have the potential to increase the quality of public services by benefiting from the innovation and efficiency capacity of the private sector. However, there are also risks and difficulties that may be encountered during the implementation of this model. These risks include operational risks, financial risks, legal and regulatory framework risks, and social and political risks. Managing such risks is critical to the success of the project. The 1915 Çanakkale Bridge project attracts attention as one of the important projects carried out with the build-operate-transfer model in Turkey. This project constitutes a valuable example in terms of examining the applicability of the model and the risks encountered. While the project evaluated within the scope of this thesis has various challenges and successes both technically and financially, it provides important information about the application of the build-operate-transfer model in Turkey. This thesis study aims to examine in depth the potentials and risks of the build operate-transfer model through the example of the 1915 Çanakkale Bridge and to make suggestions on how the model can be applied more effectively. The limited number of studies on this subject in the literature increases the importance and originality of this research. This study is valuable in terms of providing guidance for future projects to be carried out within the scope of the build-operate-transfer model and contributing to the development of risk management practices of the model. Thus, this study hasthe potential to make a comprehensive contribution to both academic literature and practice.