Is a P3 the Best Option for Your Next Capital Project

The use of Public Private Partnerships (P3s) to advance new capital infrastructure programs has progressed around the world. And they are now being successfully used to implement projects in the buildings, road, transit, and water sectors. However, the use of P3s – as an execution option - has not progressed as broadly in the US to assist municipalities to capitalize, construct, and operate new or modified water systems.There is a lot of information available based upon successful and challenging experiences with P3 implementation across the world. But there has not been a reliable summary available to vet prior completed projects; evaluate which projects may be ideal for using a P3 execution option; and allow access to good contract documents that balance the owner and consultant risks of a P3 project.The authors, working in concert with the Association for the Improvement of American Infrastructure (AIAI), summarize the progress made with P3s for water infrastructure projects across the globe; and provide tools to evaluate the potential for using a P3 contract model for new or modified municipal water projects in the US.The major elements that will be covered in this manuscript and presentation, based upon research on actual completed projects, are:Lessons learned on successful completed global P3sDiscussion of challenges that can occur with this model, and how they can be remedied.Selection criteria that can be sued to evaluate whether a P3 is right for a new projectDemonstration of a financial analysis tool to compare a P3 execution option to more traditional execution models, such as Design-Bid-Build, and Design Build