Public Private Partnerships (PPP's)Critical Success Factors |
Article by C. Konstantinou (Managing Partner, Deloitte & Touche Consulting), N. Bakalis (Manager, Deloitte & Touche Consulting) & Dr. A. Avgouleas (Ass. Prof. of International Financial Law, University of Piraeus)
Partnership between government institutions and private enterprises for the realization of large projects such as motorways or new housing development projects has clear added value. These public private partnerships (PPP) can lead to a better end product for the same money or the same value for less money.
For a successful PPP approach certain conditions have to be met:
• Government and private enterprises work together on basis of clear, contractual agreements.
• Distinct regulations are laid down concerning the responsibilities of the parties regarding costs and risks.
• Social and commercial goals have to be met at all times.
• Every party keeps its own identity and responsibility.
