The Challenging Business of Long-Term Public-Private Partnerships: Reflections on Local Experience
Many widely publicized, long-term, complex contracts between private companies and municipalities are labeled public-private partnerships. Theoretically, cost savings, risk sharing with the private sector, and improved service quality are some of the substantial public benefits offered by these innovative contracts. These long-term contracts, however, in practice pose challenges that can undermine, at the local level, successful implementation. The author draws on illustrative cases to examine some impediments to appropriate innovative long-term contact transparency, effective performance guarantees, equitable risk sharing, and market-driven competition achievement. The author examines partnership model inapplicability to most business and government commercial transactions, uncontrollable circumstance risk, local resource constraint impacts, and long-term contract transparency barriers. The conclusion that when embarking on long-term contracts, strong governance structures, effective contract management, and specialized expertise must be invested in by local governments is reached.
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/issn/00333352
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Authors:
- Bloomfield, Pamela
- Publication Date: 2006
Language
- English
Media Info
- Media Type: Print
- Features: References;
- Pagination: pp 400-411
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Serial:
- Public Administration Review
- Volume: 66
- Issue Number: 3
- Publisher: Blackwell Publishing
- ISSN: 0033-3352
- EISSN: 1540-6210
Subject/Index Terms
- TRT Terms: Benefits; Cities and towns; Contracts; Costs; Governance; Governments; Impacts; Innovation; Local government; Management; Mathematical models; Private enterprise; Public private partnerships; Risk assessment
- Uncontrolled Terms: Barriers; Impediments; Transparency (Program management processes)
- Subject Areas: Administration and Management; Finance; Highways; I10: Economics and Administration;
Filing Info
- Accession Number: 01055377
- Record Type: Publication
- Files: TRIS
- Created Date: Aug 23 2007 1:00PM