Understanding P3 Projects

Public private partnerships differ in scope from traditional public works projects designed by a government agency. In a typical P3 project, the private party enters the project earlier, and is capable of greater decision-making power, writes Todd Bryant, founder of Bryant Surety Bonds. “The bidding process works in a similar way as with conventional public works projects. However, rather than coming on at the construction stage, the private entity can participate in earlier stages like design and financing or later stages like operation and maintenance of the now-completed project,” notes Bryant. Read his post to learn the five points at which a private entity can engage in a P3 construction project.