Public-Private Partnerships in British Columbia

The $3.7 billion figure is found by adding the total annual costs of the 17 projects for both P3s and traditional procurement and then subtracting the long-term cost of traditional procurement from the multi-decade cost of the P3s. [...] Either way, the province had lost confidence in the ability of the FHA board to lead the project and transferred some FHA staff members and responsibility for executing the project to Partnerships BC.”10 In a 2002 interview with the Journal of Commerce, Finance Minister Gary Collins said P3s were the wave of the future and that “part of the appeal of beginning the province’s P3 learning curve with [...] COLUMBIA INSTITUTE 11 PA R T. 4 Direct risk adjustments In reality, regardless PART OF THE JUSTIFICATION for the use of public-private partnerships is that risk, which of P3 contracts, the would be carried by the public in traditional project delivery, is transferred to the private public carries the sector. [...] The value of this risk identified and transferred to the estimated cost of public procurement varies from a low of 6.9 per cent of the cost of public procurement to a high of 16.2 per cent. [...] The author has a copy of the information, but at the time of writing, was waiting for a response to a request about the new location of the information.