A comparative analysis of project performance: Public–Private Partnership (P3) Highway Projects vs. Design-Build (DB) and Design-Bid-Build (DBB) Highway Projects
1 Department of Engineering Management, Hofstra University, New York, USA.
2 Department of Civil Engineering and Sustainability, Cornell University, Ithaca, USA.
Research Article
World Journal of Advanced Research and Reviews, 2024, 23(03), 2884–2894
Publication history:
Received on 11 August 2024; revised on 21 September 2024; accepted on 26 November 2024
Abstract:
Public–private partnerships (P3) have become increasingly significant in both advanced and emerging economies in recent years. In the United States, P3 contracts have been utilized across a wide range of infrastructure sectors. However, it is crucial to evaluate how P3 projects perform in terms of cost and schedule compared to traditional project delivery methods to make informed decisions. This study focuses on comparing the performance of P3 highway projects with those delivered through design-build (DB) and design-bid-build (DBB) methods, particularly in terms of cost and schedule growth. Statistical analyses revealed that P3 highway projects showed a mean cost growth of 2.12%, whereas DB projects recorded 8.95% and DBB projects 7.27%. In terms of schedule growth, P3 projects had a mean growth of 0.59%, while DB projects experienced 37.94% and DBB projects 31.39%. These findings provide valuable insights to support decision-making for future projects, benefiting government agencies, private companies, and other stakeholders in infrastructure development. The results can assist in choosing the appropriate project delivery method, potentially minimizing disputes and project failures.
Keywords:
Public–private partnerships; Highways; Project performance; Cost escalation; Schedule overrun
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0