Transportation agencies are increasingly embracing Public Private Partnerships (P3s) as an innovative means to deliver transportation projects. While the list of potential P3 benefits is vast, there is little empirical evidence about the actual effectiveness of transportation P3s. The goal of this research is to develop an ex-post value for money analysis framework and perform empirical analysis of P3s compared to conventional project delivery. We propose to perform a longitudinal study of three unique projects in which both traditional and P3 method are used. The longitudinal study will be complemented with a cross-sectional data analysis of more than 100 mega transportation projects procured for the past 10 years. It is anticipated that the analysis will provide insightful findings about whether, when, and why a P3 delivers value for money. It is anticipated that the research will provide policy implications concerning the use of P3s in transportation investment spanning all modes. The ex-post value for money analysis framework has practical applicability for transportation agencies to monitor and evaluate their P3 operations.
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