As higher education faces significant funding and maintenance challenges, institutions are increasingly leveraging public-private partnerships (P3s) to achieve their infrastructure goals. Once viewed primarily as a means to secure additional funds for major capital projects, leaders increasingly use P3s to transfer the long-term risks of ownership, management, and maintenance, as well as to reap the benefits of private sector expertise. Effective P3s can provide numerous benefits, such as expedited project delivery, access to private sector financing and expertise, and facility lifecycle maintenance.
Though the potential benefits of P3s are attractive, moving too quickly on a P3 deal can lead to major financial consequences. In many cases, problems arise when institutions fail to sufficiently evaluate the feasibility of a P3, secure buy-in from campus leaders, or establish necessary governance processes.
To help leaders avoid these pitfalls and better navigate public-private partnerships, this publication offers high-level guidance to successfully evaluate, plan, and execute a P3.
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