PPPs offer an alternative means for the completion of transportation infrastructure projects. However, PPPs can only provide additional funds for transportation investments to the extent that the private sector can achieve efficiencies large enough to offset the disadvantages of PPP financing. For highway projects, efficiencies in construction and revenue generation are potentially of sufficient scale to provide such an offset. The determination of whether PPP or traditional financing offers greater value must be made on a case-by-case basis because of each project's unique properties. Our analysis focused exclusively on the financial trade-offs between PPPs and traditional financing. Any decision about whether to use a PPP or a traditional public project delivery method should include consideration of factors such as risk allocation and expediency of project delivery.