Definition of P3 Projects
The P3 Framework defines a P3 project as an infrastructure project where the proponent provides some or all of the financing for the project, designs and builds the project (at times also providing operations and maintenance) and receives payments over an extended period of time. The definition of a P3 under the P3 framework does not include design-build projects, but may include design-build-finance, build-finance, or other alternative variations of P3s, due to the inclusion of private financing within these models. This broad definition was utilized to encourage increased usage of the P3 model in Alberta, while allowing the Government of Alberta to benefit from the advantages of alternative procurement models.