Among the largest public misperceptions of P3s is that they are viewed to be little different from privatization. However, the two concepts are indeed different. Privatization - at the extreme right of the spectrum in the chart - refers to the outright selling of a public asset or service to the private sector. In contrast, in a P3 arrangement, the private sector takes charge in the development and operation of the project, but the government retains ownership of the assets and continues to establish the ground rules. Hence, there is little loss of control under P3s. Furthermore, since public authorities remain responsible for setting policies and the level of service, a much higher degree of accountability in service delivery is achieved relative to privatization.