The public-private partnership (PPP) has often been viewed as a ‘dumping ground’ for risk, with the heavy-handed transfer of risk seen by governments as key to achieving value for money. In reality, a more collaborative approach would create optimal value.

In some ways, public-private partnerships have become increasingly sophisticated over the past two decades. In other ways, the approaches taken to PPPs are stale, foster mistrust and deliver sub-optimal value to governments, private partners, investors, citizens and taxpayers. A constant challenge is the ever changing definition of what value for…