The Project Company's performance on the Barranquilla Airport is monitored in such a way that it only receives full operational revenue when it meets the relevant KPIs. The Procuring Authority developed these KPIs by investigating best practice around the world before developing the PPP contract, however there have been some challenges relating to the measurement of KPIs during construction. The performance measures are the same for the entire contract duration, even though for the first three years there are construction works occurring at the same time as operations of the airport.

A second challenge with the performance monitoring of this project was related to the KPI assessing client satisfaction. As the measure for satisfaction was based on customer surveys, the parties felt that it was not appropriate to link revenue to this kind of qualitative measure and that the KPI should be based solely on factors that the Project Company can control. The Procuring Authority and Project Company worked together to find solutions to these challenges that were acceptable to both parties.

The contract allowed for a revision of the methodology used to measure the KPI in order to adapt to the reality of the project. The review involved the Procuring Authority, the Project Company and the monitoring party (see more details below). An agreement was reached between the three parties.

To carry out its monitoring of the project, the Procuring Authority appointed an independent project monitoring party to be "its eyes and ears on the ground" in terms of checking that the contract is executed and complied with. The project monitoring party measures KPIs, reviews documentation submitted by the Project Company and submits monthly reports to the Procuring Authority. A risk register was created during the procurement phase, and the project monitoring party assists by reviewing it as part of its regular updating. The Procuring Authority is based in Bogota, and visits the project on a regular basis, however the project monitoring party is on site every day. The appointment of the project monitoring party is only with the Procuring Authority, and not with the Project Company.