Public-private partnerships (P3) have grown in popularity over the past two decades as an alternative means of financing infrastructure projects and improvements. The reasons for this are clear — they reduce public debt and share the risk, with costs borne primarily by users rather than taxpayers.
A key difference of P3s from commercial construction is the time horizon of the project. With a typical payback period of 50 years, it’s vital to use P3 project software that retains all original test data and inspection results so there’s no need to pay for redundant studies down the road when expansion or repairs are needed.
Big Data Provides Big Benefits
Although P3 projects may be arranged by a government authority working directly with a general contractor, more typical ones are coordinated between government and an entity formed by a private sector consortium called a special purpose vehicle (SPV). The SPV consortium is comprised of a general contractor, maintenance company, and equity investors, and contracts with a government authority to build, maintain, and operate the asset for a contracted period.
Toll roads are the most common example, but P3 projects also include HOV lanes, air and sea ports, water systems, parking ramps, multitenant housing, railways and subways.
Keep Construction Projects on Schedule
Our P3 project software enables all parties to coordinate test and inspection efforts by subcontractors and engineering consulting firms, because all information is immediately uploaded to a centralized, searchable data repository.
For each project, the software stores complete records of the geotechnical and engineering services that went into it, the conditions at initial construction, and the as-built specifications. Over time, government authorities and general contractors can consolidate information from multiple individual projects to evaluate subcontractor and supplier performance for specific types of projects under different conditions, improve process efficiency, replicate successful projects, and avoid pitfalls.
Now project owners get consistent, accurate results fast by having a consistent view of results stored in a centralized data repository. They can specify test procedures and report formats, and coordinate test and inspection workflow across all providers. This includes all tasks from initial environmental studies and soil testing through structural inspections, discrepancy reporting, and special inspections.
The bottom line: construction projects and maintenance are more likely to be kept on schedule and handled smoothly.