Partnerships between the public sector and private companies offer the best of both worlds, straddling steadfast public incentives and regulations, and private innovation and drive to turn a profit.
Public sector organizations are able to use the resources of private industry to reach their goals while keeping within their own regulations and maintaining oversight. Financial risks and other hazards are shared among partners, and at the same time, the private and public sector entities are able to build relationships that ensure continuity through the project. Private partners are able to employ their innovative technology and gain incentives for working with the public framework.
Looking at research on PPPs, the benefits are indeed clear. European studies found that a PPP approach can reduce project lifecycle costs by 20 percent, and reduce the project’s overrun costs by 60 percent. Schedule overruns are also reduced by 65 percent. The Australian research mentioned with its European counterpart echoes the same, showing schedule improvements of three percent versus traditional projects, which were, on average, 24 percent late.
If this sounds appealing to you, we aren’t surprised. There are many ways technology and PPPs go hand in hand, and with the right practices in place, your organization can thrive on this approach.
Our PPP series is designed to give CIOs and CTOs, like yourself, perspective and topography into how a public-private partnership can benefit your organization.
To understand how a public-private partnership can benefit your organization, you first need to understand exactly what a PPP is, and why these arrangements are gaining in popularity. With that information, it is more clear to see the purpose of establishing a public-private partnership so that you can move through this series with a solid foundation of knowledge.
The best way to understand how PPPs get started is with real-life examples. Here, we will explore several examples of various organizations’ approaches to public-private partnerships, so you can see the diversity in approaches and hopefully be inspired to get started yourself.
Every tech project comes with obstacles and issues. Much like seeing others’ approaches can be inspiring, seeing how different organizations have overcome PPP obstacles is also inspiring, and reassuring. If and when you run into problems, you will not be the first CIO or CTO who has to find a solution.
Knowing the common obstacles of a PPP also assists in planning ahead. When you create your game plan to get from an idea for a partnership, through to the finished, successful project, you can build in contingencies for issues you are likely to face.
Not every PPP is going to be a complex, time-consuming project — at least at first! Some of the best PPPs started from something small, and those small wins are well worth celebrating. In this article, we will show you how several organizations took baby steps toward success, keeping a PPP manageable while still attaining success.
All of the information in the world is only going to be truly helpful if you can put it into action. That is why we have included this article, with a focus on turning ideas into goals, metrics, and timelines to follow. A game plan is much easier to follow when you have PPP-focused professionals to help, and we will include those details in this article as well. You will have all that you need to bring your PPP from a great concept to a true, real-life partnership.
Consider this your quick reference sheet. While each article in this series will go into depth, with plenty of examples, statistics, and links for further information, sometimes you will want to look at an overview of CIOs, CTOs, and public-private partnerships. The summary is exactly that, offering one central place to look back on everything that we have to share.
We are looking forward to helping you enter the world of public-private partnerships, equipped with the information and expertise that makes all the difference between falling flat and reaching new heights of success. Follow along with us, starting with the next article in our series, ‘CIOs, CTOs, and Public-Private Partnerships: What a PPP Is.’GroupLink is here to help you with your ITSM needs. Our systems – everything HelpDesk, GroupLink Workflow Process & Incident Tracking, and GroupLink for SafestSchools – promote robust, collaborative ITSM and workflow. You can always get in touch with us any time, using our online form to send a message or calling us at 801-335-0700. We’re available via email at firstname.lastname@example.org. However you want to reach out, we would love to hear from you.