“A practical approach to understanding the value of public-private partnerships compared to other more traditional delivery methods has long been missing in the U.S. We all need to help our public sector colleagues develop a basic understanding of the model and have the confidence to utilize P3 delivery where appropriate, in bringing their projects to market faster, better, and cheaper than could otherwise be achieved.” Rodney Moss, Hunt Companies; Secretary & Treasurer, AIAI Board of Directors.
Venturing into the world of public-private partnerships can be daunting. Not only is everyone’s time precious, but it’s sometimes difficult to find the educational resources necessary to develop an understanding of the complexities of the model. Furthermore, like any other delivery method, these contracts need to be procured properly with the right fundamentals so that the taxpayer receives the full benefit and power of the delivery method.
Introducing AIAI’s P3 Certification Program.
This program has been developed to provide public and private sector participants with foundational P3 knowledge by engaging participants in a wide range of strategic, proven processes, such as developing project charters, market-sounding exercises, procurement-options analysis, and risk workshops. When certified, graduates will know 1) when, how, and why P3s work best, 2) recognize when P3 isn’t the best option, 3) the foundational processes required for both the public and private sectors to succeed, and 4) how to communicate the value of P3s effectively and confidently to external stakeholders.
“For large, complex, or urgent infrastructure projects, P3s often provide the most effective and efficient ways to deliver infrastructure in the US today,” explains AIAI executive director Lisa Buglione. “They have they been utilized around the world for decades and are rapidly gaining momentum in the US. Entering into an alternative financing structure or transferring lifecycle performance risk requires careful consideration and expertise. AIAI’s P3 Certification Program gives both public and private sector stakeholders the background, case studies, and basic knowledge to construct a P3, as well as knowing what questions to ask and when to bring experts to the table.”
Delivered over the course of one year, this modular program first gives participants an understanding of the history and evolution of P3s and how it applies to the infrastructure problems they’re trying to solve. Participants then will receive an overview of the P3 delivery steps and processes, which lays the groundwork for future more in-depth sessions. The second phase of the program will provide deep dive into the features and benefits of alternative financing and risk transfer structures before shifting into a detailed examination into the three phases of P3s: pre-procurement, procurement, and project execution.
This time investment is a win-win for us all. Once jurisdictions familiarize themselves with the model, they will understand the inherent value of P3 as an option in their procurement plans.
From strategic risk sharing to guaranteed performance outcomes, P3s empower government to have certainty in their budgets, while giving the private sector an opportunity to invest in local community infrastructure. Given the macroeconomic market factors at play for the foreseeable future, the desire to pursue alternative delivery methods is growing rapidly. Therefore, the value of this certification program will only increase to an industry that desperately needs a common baseline of knowledge and certified participants and decision makers who have that knowledge.
