Successful Practices for P3s: A review of what works when delivering transportation via public-private partnerships

For many transportation agencies in the United States (U.S.), public-private partnerships (P3s) offer an opportunity to tap new financing sources and transfer certain project delivery risks. These partnerships differ from standard procurement practice wherein the public sponsor controls each phase — design, construction, finance, operation and maintenance – of the project’s lifecycle. In a P3, a single private entity (which may be a consortium of several companies) assumes responsibility for multiple phases, accepting long-term risks in return for prospective rewards. This document focuses on long-term concession agreements where, in addition to project design and construction, the private partner is at least partly responsible for financing and bears most or all responsibility for operations and maintenance, an arrangement typically called Design–Build–Finance–Operate–Maintain (DBFOM). Since the early 1990s, P3 development has produced a body of practice specific both to the U.S. market and to individual States. Among these approaches, some have emerged as “successful practices” in the simple sense that they tend to result in successful project delivery. The goal of this report is to identify these successful practices and the important issues they address. The successful practices included in this document were developed primarily from interviews and discussions with public entities and industry participants in U.S. P3s, and complemented by publicly available sources and published articles on the topic. This document is organized around four phases of P3 program/project development: legislation and policy, project development, procurement, and performance monitoring and oversight.

Language

  • English

Media Info

  • Media Type: Digital/other
  • Features: Appendices; Figures; References; Tables;
  • Pagination: 74p

Subject/Index Terms

Filing Info

  • Accession Number: 01596755
  • Record Type: Publication
  • Files: TRIS, ATRI, USDOT
  • Created Date: Mar 28 2016 10:06AM