A P3 is an alternative procurement model for GOA ministries and Supported Infrastructure Organizations (SIOs) for providing infrastructure. A P3 is a method of:
■ Encouraging innovation, collaboration, and appropriate risk sharing with the private sector, drawing on the expertise and strengths of the public and private sectors;
■ Maximizing value for money by considering life-cycle costs, opportunities for third party provision of ancillary services, (e.g. caretaking, food service, etc.), risk allocations and third party revenue opportunities; and
■ Enhancing ability to deliver projects on time and on budget.