Academy of Accounting and Financial Studies Journal Volume 25, Issue 1, 2021 1 1528-2635-25-1-649 KEY SUCCESS INDICATORS OF A RISK MANAGEMENT FRAMEWORK FOR PUBLIC-PRIVATE PARTNERSHIPS PROJECTS E. Awuah, University of South Africa J. Young, University of South Africa ABSTRACT Public-private partnerships are joint ventures between a private sector organisation and a government with the aim of providing socio-economic infrastructures and services. These partnerships are not risk-free and require an effective risk management framework to ensure the achievement of objectives. However, it appears that the embedding of an adequate risk management framework by some partnerships still requires attention, especially in developing markets. In addition, what constitutes a successful partnership remains contentious. As such, this study aims to determine Key Success Indicators for a risk management framework for these partnerships. A literature review was used to serve as a platform to identify relevant Key Success Indicators for a risk management framework with the aim to assist the stakeholders to determine the success of a partnership. Descriptive analysis of the response of a survey confirmed the Key Success Indicators for a risk management framework for these partnerships. It is envisaged that these Key Success Indicators could assist in addressing latent gaps between current and finest practices of managing and measuring risks and ensuring successful public-private partnerships projects. Keywords: Risk Management, Risk Management Framework, Public-Private Partnerships, Project Management, Key Success Indicators. INTRODUCTION Risk management discipline is ever-growing in many fields globally, as a result of various incidents, which contribute to project and organisational failures. These failures have been linked to ineffective risk management practices. For instance, the Dar es Salaam Water Project (regarded as a public-private partnership (PPP) failed due to inadequate risk management (Ikon et al., 2015). Similarly, Yescombe (2017) mentioned that the geotechnical risks in the Uganda’s Bujagali Hydropower project materialised and engendered a cost overrun of $50m. Also, Yescombe (2017) indicated that there was a risk management failure in addressing risks associated with the Mbombela PPP Water project in South Africa, hence the project partially failed in the early stages of the concession. Otairu et al., (2014), and Farlam (2005) affirmed that constant streams of scandals and poor performance in PPPs can also be linked to poor risk management practices. Based on the foregoing views, it is perspicuous that haphazard risk management activities are one of the major causes of PPPs failures. A haphazard approach to risk management can be linked to a lack of an effective risk management framework. Therefore, Young (2018) recommended that organisations should develop a risk management framework and embed it into their facets for identifying and mitigating risks in a structured manner for successful project delivery.