We are witnessing alternate Project Delivery Methods emerging and becoming popular. One of these is Public Private Partnership (P3). This is not merely a project delivery method, but actually a new method for project generation that bridges the distance between service provided by the Government and service provided to the Government. Even Government is being redefined in smaller pieces of corporation services, for example, the Crown Corporations in Canada. P3 creates the project needs on behalf of the people by creating value in the future without collecting public debt in the present.
P3 is a creative business model that has a lot of room to grow across many industries. The primary method of its engagement is interdisciplinary coalition and integration. It requires entirely different methods and systems of managing projects. Public authority has to play an equally important role, in fact primary role, comparative to the private partner, in Co-Creation, Co-Conversion and Co-Capturing of Value in a P3 model. There is an irresponsible marketing about the role of Public Authority by those who reduce P3 merely as a Project Delivery Method. They are selling P3 as either a Procurement Model that places Public Authority on a back seat as soon as the Project proponent is awarded, or reduces it to
a financial model that sees the borrowing private funds has no negative effect on Government’s AAA rating. But TBS, along with the visionaries of P3, would always stand behind the value it brings to the public through Co-Creation, Co-Conversion and Co-Capturing of private and public bodies through this partnership, and TBS has a proven record and strategy for it.