P3's (Slides) Flashcards

1
Q

What are P3’s?

A

Public Private Partnerships

A partnership arrangement in the form of a longterm performance based contract b/w public sector and private sector to deliver public infrastructure to citizens

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are some variations of a P3 contractually?

A

DBOM - Design-Build-Operate-Maintain

DBFO - Design-Build-Finance-Operate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Does the government need to pay upfront in a P3 arrangement?

A

No, it’s like a lease instead of a mortgage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

List 4 attributes of a P3

A
  • taxpayers/users pay for project, but not until facility is built, and then pay is based on performance
  • private partner can utilize efficiencies not available in public sector
  • government retains ownership, control and responsibility
  • private partner is liable for cost risks, epsecially on projects which include operation for a fixed period
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

List for drawbacks of a P3

A
  • Agreements take a long time to put together
  • Agreements can be costly
  • Projects usualy so big only a very large company can undertake them
  • Even with partial compensation, costs to bid project are very high
  • Pirvate partner is reponsible for both quality control and quality assurance
How well did you know this?
1
Not at all
2
3
4
5
Perfectly