?P3 Value for Money Assessment and Project Report. Alberta Schools Alternative Procurement (ASAP) Project Phase 1

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This report explains what a P3 is and why it may be used, provides a value for money assessment of the P3 for 18 new schools, and provides a project report. By using a Public Private Partnership (P3) to design, build, finance and maintain 18 schools in Calgary and Edmonton, the Alberta government saved $97 million over 32 years (in today’s dollars) compared to a traditional approach ($634 million instead of $731 million, a 13% savings)1. It will also deliver the schools two years earlier than with traditional methods. The government chose a P3 to deliver the Alberta Schools Alternative Procurement Phase 1 project, known as ASAP 1. The assessment shows that using a P3 delivered value for money and that it was the right way to procure the 18 schools.
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