International Journal of Business and Management; Vol. 8, No. 9; 2013 ISSN 1833-3850 E-ISSN 1833-8119 Published by Canadian Center of Science and Education Comprehensive Objectives for PPP Projects: Case of Beijing Olympic Stadium Ikechukwu Ikea Chinyere1 1 Department of Research and Innovation, JIC International Limited Nigeria, Nigeria Correspondence: Ikechukwu Ikea Chinyere, Department of Research and Innovation, JIC International Limited Nigeria, Nigeria. Tel: 234-809-094-6561. E-mail:
[email protected] Received: January 21, 2013 Accepted: March 30, 2013 Online Published: April 14, 2013 doi:10.5539/ijbm.v8n9p88 URL: http://dx.doi.org/10.5539/ijbm.v8n9p88 Abstract This paper is concerned with issues relating to the need for clear and comprehensive objectives by parties to Public- Private Partnership Projects: the case of Beijing Olympic Stadium, which is the first Public–Private Partnership project (PPPs) sporting complex in china. The discussion is illustrated by reference to the numerous risks encountered throughout the development and construction of the project and also revealing the concessional agreement that lead to the use of public private partnerships in building the 2008 Beijing Olympic Stadium. The paper begins by discussing the definition of PPP, nature, development, competitive bidding, total investment and sharing formula of the project partners, structure, operation process of the Beijing Olympic Stadium (Bird’s Nest), the disagreement between the Project Company and Beijing Municipal Government (BMG) and also elucidate the three major disputes associated with the project and then give an overview of the disputes resolution process in China. This case study also highlighted the intricacies seen, both in the implication of cancelling the retractable roof and the critical lessons learnt from the PPP project, as regards to the 2008 Beijing Olympic Stadium.