Ankit Bansal will defend his thesis entitled: A Comparison of Public-Private Partnerships and Traditional Procurement Methods in North American Highway Construction. 12 April at 8:00 am in the Urban Systems Engineering (USE) room 257- Arizona State University, Tempe Campus.
Abstract:
The number of publicprivate partnership (P3) projects in North America increased
significantly since early 1990s, as policymakers and transportation officials seek
alternative methods to supplement traditional funding sources to finance and deliver
projects. Scholars have compared the cost and schedule overruns of P3 projects against
publicly funded projects in mature P3 markets in Europe, but similar comparisons are
lacking for the North American market. This paper begins filling that gap by comparing
the cost and scheduleoverrun results of 12 completed, largescale (greater than ~US$90
million) P3 highway projects in North America with previous research studies reporting
on largescale designbidbuild or designbuild highway projects. The researchers
collected P3 project performance data through interviews with project executives and
then utilized findings from previous studies of traditional projects for comparative
benchmarking data. The research results indicate the P3 sample cost overruns averaged
0.81% and schedule overruns averaged 0.30%, compared with 1.49% cost overruns and
11.04% schedule overruns for designbuild projects and 12.71% cost overruns and 4.34%
schedule overruns for publicly financed largescale designbidbuild highway projects.
With a relatively small universe of completed construction phase efforts to examine, it is
premature to draw explicit conclusions, yet the results reported in this study point to
tighter control of highway construction costs and delivery schedules when projects are
delivered via the P3 method. Findings from this study provide empirical evidence for
various theoretical advantages and limitations of P3 projects, as well as serve as a
reference tool to compare the appropriateness of different project delivery methods.
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