United States Department of Transportation
i
P3 Toolkit: Value for Money Analysis for Public-Private Partnerships (P3s)
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2017-01-01
[PDF-253.89 KB]
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Abstract:Under a Public–Private Partnership (P3) for highway projects, a private partner may participate in some combination of design, construction, financing, operations, and maintenance, including the collection of toll revenues. Value for Money (VfM) analysis is a process used to compare the financial impacts of a P3 project against those for the traditional public delivery alternative. The methodology for carrying out a VfM analysis involves: Creating a Public Sector Comparator (PSC), which estimates the whole-life cost of carrying out the project through a traditional approach; Estimating the whole-life cost of the P3 alternative (either as proposed by a private bidder or a hypothetical “shadow bid” at the pre-procurement stage); Completing an “apples-to-apples” comparison of the costs of the two approaches.
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