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What is PPP?
A public-private partnership, also known as PPP, is a legal contract between a government body and a private entity. Its goal is to provide either an asset or a service as a public benefit.
In a public-private partnership (PPP), there is the public entity, which is either federal, state, or local, and they engage with a private partner. The private partner hires, pays, and supervises the contractor, as well as participating in designing, financing, operating, and maintaining the project in the construction process.
Every project is different; ultimately, the role of the private partner varies from project to project. The common projects that a private partner participates include highways, roads, toll bridges, water and sewer systems, and parking facilities.
Sometimes, the public-private partnership is created to develop a new construction project and is necessary for repairs, upgrades, and maintenance work.
This process is prevalent in many countries, and it’s growing in popularity because of its use in large-scale projects. The collaboration between government and private partners can result in millions of dollars in cost savings.
Public-private partnerships change the style of public works construction. With the formation of a public-private partnership, a contractor will work for a private entity or firm instead of working for a government agency.
The owner of the private entity has more control and flexibility compared to a government agency. With this, the owner can select a project design and systematic approach that fits the project’s needs and request the construction contractor to go beyond their traditional role on a construction project. The private entity owner assumes the risk of time and cost overruns, and create strong incentives to prevent these risks to deliver projects on-time and on-budget.
What does it mean to be a member of WAPPP?
The World Association of PPP Units & Professionals (WAPPP) is the home of PPP practitioners, it brings together public-private collaboration professionals to exchange ideas on matters related to the preparation, execution, and governance of PPPs.
Our Senior Vice President Clive De Villiers has joined as a member of the World Association of PPP Units & Professionals (WAPPP).
This new association will enhance our expertise and allow us to provide a bespoke advice to PPP stakeholders.
As a member of WAPPP, we will support clients with PPP/P3 expertise, our engagement planning and activity comprehensively meets clients’ needs whether for an emerging PPP market/programme or, at the other extreme, in relation to a transaction in a mature or secondary PPP market.
With our expertise in asset and cost management solutions, we have provided services for PPP/P3 over the years to a wide range of clients including central governments, government departments, lender groups and investors, and bidding entities.