Why do Public-Private Partnerships (P3s) succeed in some states and falter in others? Success doesn’t come easy. The degree of each state’s or project’s success can be argued, but the following items have and will help pave the way for states to find more success when implementing P3 projects and programs.
Toll agencies often find themselves in a financial conundrum. This usually happens when you measure the costs associated with collecting tolls from customers who refuse to pay initially against the toll revenue and fees ultimately collected. If agencies don’t follow certain measures to control their spending, they may end up losing money versus gaining revenue.
As you begin developing a tolling or managed lane facility in a new area, the challenge becomes how to introduce tolling in a manner that will quickly gain acceptance.
The facility must address current and future travel demands to improve traffic operations in the region. The goal is always to deliver exceptional, consistent, and reliable service by developing infrastructure improvements that provide a safe, convenient, and congestion-free facility.
Introducing tolls and managed lanes to new markets can effectively be broken down into the following five steps.
There are many current initiatives driving technological advancements in the tolling industry that will affect the future of toll technology infrastructure, such as Vehicle to Infrastructure (V2I). It’s imperative that transportation authorities design and implement infrastructure that will accommodate future advancements. If agencies don’t plan properly, they will be at risk of losing time and money, as well as not improving congestion within their communities.
Industry leaders and public agencies developing alternative project delivery projects or public-private partnerships (P3s) will tell you that not all projects should be advanced as a P3 project. I consider this important and sage advice to those with established alternative delivery programs and new public owners looking to enter into P3 development.