Risk Assessment to Improve Toll Road Resilience (Case Study: Semarang-Batang Toll Road and Bali-Mandara Toll Road)
DOI:
https://doi.org/10.33603/jki.v13i3.10621Keywords:
Toll Road Revenue, Risk Mitigation, Infrastructure Resilience, Public-Private PartnershipAbstract
This study aims to identify and evaluate the risks affecting toll road revenue reduction and to develop mitigation strategies to enhance the resilience of the toll road sector. Case studies were conducted on the Semarang–Batang and Bali–Mandara toll roads. Using a combination of literature review, expert validation, and stakeholder surveys, 22 risk variables were identified and analyzed through a probability-impact matrix and descriptive methods. Results show that the most critical risk on the Semarang–Batang toll road is the delay in toll rate adjustments due to failure to meet Minimum Service Standards (SPM), which scored the highest severity value (15.000) and is classified as an extreme risk. In contrast, the Bali–Mandara toll road’s top risk is inflation rate fluctuations, with a severity score of 16.174. These differences are attributed to regional characteristics, surrounding infrastructure, and local economic conditions. Proposed mitigation strategies include government-backed revenue guarantees, concession extensions, flexible tariff policies, and improved operational and maintenance practices. Risk handling also incorporates traffic projection reviews and feasibility-based scenario planning. The findings of this study provide valuable insights for toll road operators (BUJT) and policymakers to develop risk management strategies that support the sustainability of toll road operations, particularly under uncertain conditions such as pandemics or global economic pressures.
References
[1] J. Ross, “5 Study Design and Methods,” A World of Many, pp. 39–46, 2023.
[2] O. M. Rouhani, “Revenue Risk Mitigation Options for Toll Roads,” IDEAS Working Paper Series from RePEc, no. 2015, 2015.
[3] L. P. T. Le, N. Chileshe, K. Kirytopoulos, and R. Rameezdeen, “Investigating the significance of risks in BOT transportation projects in Vietnam,” Engineering, Construction and Architectural Management, vol. 27, no. 2020, pp. 1401–1425, 2020.
[4] N. Carbonara, N. Costantino, L. Gunnigan, and R. Pellegrino, “Risk Management in Motorway PPP Projects: Empirical-based Guidelines,” Transp Rev, vol. 37, no. 2017, pp. 194–215, 2017.
[5] V. R. Widiastuti, “Jasa Marga plans to issue commercial paper, cut expenditure amid revenue downturn,” The Jakarta Post, no. 2020, Aug. 2020.
[6] A. A. A. P. Ayundari and S. Setiawan, “Analisis Determinasi Inflasi Provinsi Bali dengan Pendekatan Vector Error Correction Model (VECM),” Jurnal Sains dan Seni ITS, vol. 12, no. 2023, pp. 1–8, 2023.
[7] E. Jokar, B. Aminnejad, and A. Lork, “Assessing and prioritizing risks in public-private partnership projects using fuzzy multi-criteria decision-making methods,” Operations Research Perspectives, vol. 8, 2021.
[8] N. D. Setya, “Apakah Penjaminan Infrastruktur Telah Mendukung Bankability Proyek KPBU Jalan Tol,” Kementerian Keuangan RI, Jakarta, 2023.
[9] M. K. M. Z. Serdar and S. G. Al-Ghamdi, “Urban Transportation Networks Resilience: Indicators, Disturbances, and Assessment Methods,” Sustain Cities Soc, vol. 76, no. 2022, 2022.
[10] L. B. Singh and S. N. Kalidindi, “Traffic revenue risk management through Annuity Model of PPP road projects in India,” International Journal of Project Management, vol. 24, no. 2006, pp. 605–613, 2006.
[11] BPJT PU, Jalan Tol: Tujuan dan Manfaat. Badan Pengatur Jalan Tol, 2023.
[12] T. Novianti and H. Y. Setyawan, “Revenue Risk Modelling and Assessment on BOT Highway Project,” J Phys Conf Ser, vol. 953, no. 1, 2018, doi: 10.1088/1742-6596/953/1/012145.
[13] A. F. Yang, B. Pada, and R. Dan, “Analisis faktor-faktor yang berdampak pada risiko dan ketidakpastian permintaan jalan tol di indonesia,” vol. 06, pp. 77–86, 2017.
[14] E. Jokar, B. Aminnejad, and A. Lork, “Assessing and Prioritizing Risks in Public-Private Partnership ( PPP ) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods,” Operations Research Perspectives, vol. 8, no. October 2020, p. 100190, 2021, doi: 10.1016/j.orp.2021.100190.
[15] S. Olusola and S. Perera, “Analysis of tra ffi c revenue risk factors in BOT road projects in developing countries,” Transp Policy (Oxf), vol. 56, no. April 2016, pp. 41–49, 2017, doi: 10.1016/j.tranpol.2017.03.012.
[16] A. Ng and M. Loosemore, “PROJECT Risk allocation in the private provision of public infrastructure,” vol. 25, pp. 66–76, 2007, doi: 10.1016/j.ijproman.2006.06.005.
[17] L. Bing, A. Akintoye, P. J. Edwards, and C. Hardcastle, “PROJECT The allocation of risk in PPP / PFI construction projects in the UK,” vol. 23, pp. 25–35, 2005, doi: 10.1016/j.ijproman.2004.04.006.
[18] Y. Xu, J. F. Y. Yeung, A. P. C. Chan, D. W. M. Chan, S. Qing, and Y. Ke, “Automation in Construction Developing a risk assessment model for PPP projects in China — A fuzzy synthetic evaluation approach,” Autom Constr, vol. 19, no. 7, pp. 929–943, 2010, doi: 10.1016/j.autcon.2010.06.006.
[19] M. M. Kumaraswamy and X. Q. Zhang, “Governmental role in BOT-led infrastructure development,” vol. 19, pp. 195–205, 2001.
[20] B. Hwang, X. Zhao, M. Jiang, and S. Gay, “Public private partnership projects in Singapore : Factors , critical risks and preferred risk allocation from the perspective of contractors,” JPMA, vol. 31, no. 3, pp. 424–433, 2013, doi: 10.1016/j.ijproman.2012.08.003.
[21] L. Shen, A. Platten, and X. P. Deng, “PROJECT Role of public private partnerships to manage risks in public sector projects in Hong Kong,” vol. 24, pp. 587–594, 2006, doi: 10.1016/j.ijproman.2006.07.006.
Downloads
Published
Issue
Section
License
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share and adapt the work with an acknowledgement of the works authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journals published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Upon receiving the proofs, the Author/Editor agrees to promptly check the proofs carefully, correct any errors, and authorize the publication of the corrected proofs.









