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Public Private Project Partnerships – What, Why & How Is Risk Allocated?
• The characteristics of U.S. P3 projects
• Common misconceptions related to P3 projects
• Why owners opt to employ the P3 project delivery system
• What contractors look for when considering their participation in a P3 project
• The principles of risk transfer on P3 projects
• What typical risks P3 project must be prepared to deal with
• Typical risk allocation on P3 projects
• The typical causes of P3 project failures
• What it takes to successfully manage a P3 project
Overview of the webinar
This webinar presents the results of a research effort concerning P3 projects. The session explores the various aspects of Public Private Partnership (P3) projects focusing on what they are? why owners employ this project delivery method? how such projects are structured, and, how risk is typically allocated on P3 projects. P3 projects are growing in popularity in the US but are, all too often, misunderstood by project participants and the public. One study of 20 P3 projects determined that 14 projects were completed and operational. However, 6 projects, some 30% of the sample study, were in default or bankruptcy. The presenters of this webinar were personally involved in the first P3 project in the nation to go into bankruptcy. The webinar identifies the primary characteristics of a P3 project and explores some common misconceptions concerning this project delivery method. The webinar goes on to present the results of the research effort to determine what risks are involved in P3 projects – many of which are not present in typical construction projects. The research presented in this webinar also reveals how these various risks are addressed by various project participants and how such risks are allocated on different P3 projects.
Who should attend?
• Owners considering utilization of the P3 project delivery method
• Contractors interested in becoming involved in P3 projects
• Design professionals and construction managers considering the P3 delivery method
• Attorneys for all project participants
• Public decision makers and construction executives contemplating the use of a P3 project
Why should you attend?
P3 projects have multiple participants. Each participant must learn the advantages and disadvantages of P3 projects, how various P3 projects can be structured from both a legal, business and economic perspective, what owners and bidders look for in P3 projects and the keys necessary to successfully manage a P3 project.
Faculty - Mr.James G. Zack
Jim is the Senior Advisor, Ankura Construction Forum™. The Forum strives to be the construction industry’s resource for thought leadership and best practices on avoidance and resolution of construction project disputes globally. Jim was eh founder and Executive Director of the Navigant Construction Forum™. Formerly he was the Executive Director, Corporate Claims Management Group, Fluor Corporation, one of the world’s largest EPCM contractors. Mr. Zack was previously Vice President of PinnacleOne and the Executive Director of the PinnacleOne Institute and a Senior Construction Claims Consultant for CH2M HILL, Inc. Mr. Zack has, for 47 years, worked on both private and public projects throughout the U.S. and in 28 countries abroad. Mr. Zack is a Fellow of AACE International, the Royal Institution of Chartered Surveyors, and the Guild of Project Controls. In the construction claims field, he is a recognized and published expert in mitigation, analysis and resolution or defense of construction claims and disputes. Mr. Zack is a Certified Construction Manager (CCM), a Certified Forensic Claims Consultant (CFCC) and a Project Management Professional (PMP). Mr. Zack is an internationally recognized author and speaker in the construction claims and disputes arena.