With payments better aligned to the delivery of project objectives, public-private partnerships also have a solid track record of completing construction on time or even ahead of schedule. In Canada, for example, Terminal 3 at the Toronto Pearson Airport was completed 18 months ahead of schedule under a PPPcontract.23
The United Kingdom's National Audit Office reported in 2003 that 73 percent of non-PFI construction projects were overbudget and 70 percent were delivered late. In contrast, only 22 percent of the PFIprojects came in overbudget and 24 percent were late.24