Public-Private Partnership (P3) is an alternative delivery method allowing public entities to benefit from private-sector expertise and innovation to design, build, finance, operate, and maintain a capital project. P3s provide a means for public-sector projects that otherwise would not succeed using traditional funding methods. By using P3, the public sector can deliver a wide range of project types – schools, public service buildings, transportation infrastructure, and water/waste water treatment plants.
MBP has evaluated, programmed, and executed over $6.2 billion in P3 capital projects since 2007. Utilizing our extensive experience in delivering projects under Virginia’s public-private partnership legislation, MBP has become a leader in assisting states with evaluating, programming, and executing capital projects using this exciting new delivery method. Unlike traditional construction, P3s often involve complex contracts, design-build delivery, innovative financing, and numerous stakeholder objectives. MBP has a proven track record of achieving client goals while reducing and managing risk – starting with project inception and continuing through the project lifecycle – providing our clients with an effective, transparent, and cost-efficient form of risk management.
MBP can serve as a trusted advisor to provide:
Assist in evaluating or developing the proposed program, identifying and selecting the right team members, and formulating and negotiating an agreement that benefits the success of the project while protecting the interest of our clients.
Set initial expectations for the road ahead, promptly guiding our clients in making informed decisions and communicating progress throughout the lifecycle of the project.
Prepare our clients and serve as advisor during negotiation sessions.
Review the project/program budget to identify areas of concern and prepare a cost management plan that will assist in containing costs such as ownership and management of contingency funds, identifying and tracking unanticipated site conditions, reviewing and processing change orders, and verifying that the public dollar is being spent in a responsible and equitable manner.
Identify new areas of risk that must be managed to realize a successful project. P3s provide the opportunity for public entities to transfer a portion of the capital project risk to the private sector, often resulting in achieving a more useful product for the expenditure.
Prepare and monitor an early-phase schedule that will assist in identifying decision points and deadlines for stakeholder input allowing the project to meet critical decision deadlines. This type of scheduling also allows our clients to plan finance and cash flow needs to be financially prepared to support the project progress.
Monitor the project execution to ensure that the process is monitored not only in design, but throughout construction to ensure the owner’s needs are not sacrificed for expediency.
“MBP was front and center in working with all players on the Stryker Center project from the architects, contractors, subcontractors, library staff, and city staff – we gave you the ball and you didn’t disappoint.”
Daniel G. Clayton, III
Director of Public Works
City of Williamsburg