National Academies Press: OpenBook

Evaluating and Implementing Airport Privatization and Public-Private Partnerships (2021)

Chapter:Part II - Implementing an Airport P3

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Suggested Citation:"Part II - Implementing an Airport P3." National Academies of Sciences, Engineering, and Medicine. 2021. Evaluating and Implementing Airport Privatization and Public-Private Partnerships. Washington, DC: The National Academies Press. doi: 10.17226/26179.
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Suggested Citation:"Part II - Implementing an Airport P3." National Academies of Sciences, Engineering, and Medicine. 2021. Evaluating and Implementing Airport Privatization and Public-Private Partnerships. Washington, DC: The National Academies Press. doi: 10.17226/26179.
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Page32

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Implementing an Airport P3 P A R T I I Part II follows the project development lifecycle for a P3 project. Each chapter covers a dif- ferent phase, from project planning and procurement through financial close and operations. The graphic in Figure 5 names each chapter in this section and highlights the major topics covered in each. The graphic in Figure 5 recurs at the beginning of Chapters 4 to 9 to help readers locate themselves in the project delivery lifecycle. While it may be useful to a P3 novice to read this part of the guidebook in a linear format, the research team recognizes that airport practitioners operate in a dynamic environment, and P3 efforts may be already underway. To that end, the P3 Readiness Assessment is designed to help a practitioner evaluate their airport’s institutional capacity for P3 implementation and suggests chapters, topics, and case studies (see Appendix C) that will fit the practitioner’s unique circum- stances. The P3 Readiness Assessment can be accessed at https://www.acrp-p3readiness.org/. Chapter 4: Project Planning • Determining Project Goals and Project Delivery Goals • Organizational Capacity • P3-Enabling Authority, Policies, and Procedures • Internal Resources • External Resources • Building Internal Capacity and Engaging Advisors Chapter 5: Selecting a Project Delivery Method • Project Suitability for Alternative Project Delivery • Opposition or Lack of Buy-In • Aligning Stakeholder Interests • Determining P3 Feasibility • Evaluating Project Delivery Options • Leveraging a P3 to Address “Non-Core” Airport Needs Chapter 6: Structuring the Procurement Process Chapter 7: Procurement— Advertisement to Shortlist • Ensuring Transparency and Accountability • Project Advertisement • Evaluation of Proposals and Shortlist • Collaborative Dialogue • Performance-Based Requirements • Stimulating Innovative Approaches • Essential Procurement Documents Chapter 8: Procurement— Preferred Proponent to Financial Close • Reaching Commercial and Financial Close • Protests • Third-Party Disputes • Commercial Close • Financial Close • Work During the Negotiation Period • The Federal Aviation Administration’s Airport Investment Partnership Program Chapter 9: Contract Management and Oversight • Contract Management • Dispute Resolution • Meeting Key Performance Indicators • Assessing Market Interest • Selecting the Procurement Approach • Payment Mechanisms • Incentives and Disincentives • Essential Procurement Documents • Risk Allocation and Its Role in Procurement • Understanding the Risks • Unsolicited Proposals • Private Negotiations • Educating Decision- Makers Figure 5. Overview of Part II of the guidebook.

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A public-private partnership (P3) can be a dynamic tool to help infrastructure owners achieve a range of objectives on projects, such as incorporating lifecycle project costs into decision-making, benefiting from innovation in design and construction techniques, or sharing certain performance risks.

The TRB Airport Cooperative Research Program's ACRP Research Report 227: Evaluating and Implementing Airport Privatization and Public-Private Partnerships expands upon research presented in ACRP Report 66: Considering and Evaluating Airport Privatization.

Supplemental materials to the report include a Comparative Deal Matrix database, a website for the P3 Readiness Assessment, and a presentation that communicates research findings to key technical and non-technical industry stakeholders.

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