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Andrew J. South, Raymond E. Levitt and Geert P.M.R. Dewulf

Institutional and stakeholder theory are employed to provide a conceptual framework to examine the issues posed for public_private partnerships (PPPs) as they create a governance framework to manage the interactions of multiple parties with different capabilities and varying interests. Because projects typically extend over several decades, a fundamental challenge is posed by dynamic stakeholder networks that vary significantly across the phases of project lifecycle. Project phases include identification or development, procurement, construction and maintenance. It is observed that different subsets of stakeholders assume dominance during each of these phases. These processes are illustrated by an empirical study of a highway transportation project making use of multiple types of archival data and interviews with a cross-section of stakeholders along the project timeline.

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Ashby H.B. Monk, Raymond E. Levitt, Michael J. Garvin, Andrew J. South and George Carollo

Important alternatives have developed to augment traditional modes of creating and supporting infrastructure by public financing overseen by public authorities. One of these is the public_private partnership (PPP) which joins a government agency with a private project-based legal entity to finance, design, operate and maintain a facility for use by the public. PPPs are defined and differentiated from other types of project governance arrangements. Several of their subtypes are described and a brief history provided of the changing pattern of connections linking public and private entities in the provision of public infrastructure. Some of the most common myths and misconceptions characterizing the costs and benefits of PPPs are identified and discussed. The chapter concludes with a set of recommendations regarding how this form can be more productively employed in developing infrastructure projects in the United States.