“Drawing on ten years of experience in advising both governments and private-sector companies, the Boston Consulting Group has identified a series of best practices that underlie successful PPPs. The best practices for the public sector apply to every stage in the formation and implementation of a PPP, from selecting and designing the project, to developing a regulatory structure and a transaction process, to supervising the concessionaire (the private company entitled to temporarily own and operate the asset) throughout the project’s life cycle. … Meanwhile, the private sector needs to develop a sophisticated approach to managing the myriad risks that PPPs present, from the political risks associated with a change in government policy to the risk of setbacks in financing or construction delays. Leaders in both the public sector and the private sector who follow the steps outlined in this report will significantly increase the odds of making PPP projects a success.”