Understanding How the Public Can Benefit From a Public-private Partnership

Financial Services
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Public private partnership consulting firms in California have numerous benefits to the public. In this blog post, we will discuss some of these benefits and help you understand the importance of public-private partnership.

Asset management implementation

Management of assets is a systematic way of getting full life cycle results from various facilities and all related assets. Asset management involves the cataloguing of assets into a database. This helps to implement a full life cycle analysis of cost on replacing components and prioritize all repairs and upgrades to gain the full life from each asset.

Ability to retain assets ownership

Many community leaders value ownership and it may be hard to relinquish ownership to an outside group. Public-private partnerships incorporate a concession model and enable ownership to remain with the community. This comes with the history and pride of a given entity.

Capital improvement efficiencies

The best public-private partnership consulting firms in California use asset management practices linked to business planning. This type of approach provides increased efficiencies and synergies across the entire utility municipality spectrum.

Retention of workforce

The workforce of wastewater or a water department is retained in its entirety in some instances. This depends on the public-private partnership model.

Customizable public-private partnership models

There are numerous ways of forming a PPP. Each way is unique and can be designed to meet the unique needs of the local community.

Upfront capital

While each public-private partnership deal is unique, a lot of concession models involve an upfront capital municipality infusion.

Relief of financial stresses on cities

Numerous health care expenses and pension liabilities exist. They are legacy costs that most cities struggle to pay. Public-private partnership consulting firms in California can come in, in such cases, and take over this burden. This relieves cities from financial stresses.