P3 are changing for the better. What we are seeing is a process that is more collaborative, and, in theory at least, more likely to deliver better outcomes. The approach has become widely known as ‘Progressive P3s’, particularly in North America.
But the ‘progressive’ term can be confusing for public bodies considering which of the various procurement methods suit their budgets, deadlines, and broader goals. What is a Progressive P3? Do progressive P3s eliminate risk, or do they put it on the table? How should they be structured to apportion risk fairly and beneficially for all parties?
In this report, we’ve looked to decipher ‘Progressive P3s’ and offer some clarity around how it can help improve the procurement process and tackle some of the wider challenges facing the industry. We’ll also consider scenarios where a P3 might not be the best option, and the alternatives.