New York — The Transportation Research Board’s (TRB’s) Transit Cooperative Research Program (TCRP) published a new guidebook for small- to medium-sized public-private partnerships (P3s). TRB is part of The National Academies of Sciences, Engineering, and Medicine.
Prepared by strategic advisors at WSP, the TCRP Research Report 191: “Public Transportation Guidebook for Small- and Medium-Sized Public-Private Partnerships (P3s)” serves as a resource to explore, evaluate, initiate, plan and implement small- and medium-sized public-private partnership initiatives. The guidebook addresses why and when to consider P3s for small- and medium-sized initiatives, what types of initiatives may be undertaken, and how to effectively undertake these initiatives.
A P3 project screening checklist accompanies the guidebook and may assist transit agencies with screening and evaluating a P3 initiative.
“As P3s become a preferred method for delivering transportation projects we have seen an increase in its use to deliver smaller projects, by transit agencies large and small,” said Nathan Macek, vice president and director of project development and finance at WSP USA. “Agencies that have not undertaken P3s are often uncertain regarding the complexity a P3 project brings. This guide should help them to better understand the P3 process for projects of all sizes.”
WSP’s advisory services practice guides clients to better compete in today’s economy by providing a unique combination of infrastructure expertise and management consulting leadership. Dedicated to developing business and operational solutions throughout the entire business lifecycle, the firm helps clients procure, develop, manage, finance and invest in their programs and projects.