Capital Construction P3's
Introduction
Public-private partnerships (P3s) in the area of capital construction and infrastructure do not differ significantly from regular P3s in that they are usually motivated by similar factors. These factors include cost saving, transfer of risk, and the sharing of expertise. They require the same winning conditions in order to be successful and face the same obstacles. However capital construction P3s stand out from other P3s due to their visibility, size and scope. Visibility, in terms of media coverage and physical presence, place these P3's into the spotlight. Their size manifests itself not only physically but also financially. The ability to span generations and affect thousands of people attests to the scope of capital construction P3s. Such partnerships are very complex and the risk of failure is great. This paper however, intends to focus more on the success of capital construction P3s. As such, the example that is most representative of success, visibility, size and scope is the Confederation Bridge. The bridge will be used as a point of reference for all further discussions on the subject.
This paper will begin by examining the background and history of capital construction P3s in Canada. These partnerships affect many different types of stakeholders that will be listed. The paper will progress to what links these stakeholders to each other. With this established the question of success can be introduced. What makes for a successful capital construction P3? This question will be answered by examining various past successes, in particular the Confederation Bridge. These factors may not always be present and it is important to address potential barriers that must be overcome in order to achieve ...