Sustainable and resilient infrastructure and the need for PPP specialists
Sustainable and resilient infrastructure continues to be a major focus for investors and governments worldwide. New infrastructure and the upkeep of existing assets, which form the foundation of any society and thus have a significant impact on its standard of living, are always in demand from governments.
On the one hand, in the face of low-interest rates, investors are looking for yields to meet their long-term obligations and infrastructure investments could be a part of the answer. On the other hand, it appears that public awareness of pressing sustainability issues, such as climate change, has reached a tipping point. Therefore, instead of merely increasing construction to close the infrastructure gap, we need to improve service delivery and transform how public and private sector project developers plan to procure assets that meet all sustainability criteria (i.e., social, environmental, institutional, and economic-financial aspects across the asset lifecycle).
To do so, there is an urgent need for systemic change in light of the convergence of obvious crises affecting the entire planet and its people. Since the largest source of infrastructure investment still remains to be private sector spending, Public-Private Partnership is becoming increasingly popular as a means of maximizing sustainable and resilient financing for development.
The key requirement to deliver successful PPP projects is to equip PPP practitioners with the knowledge and resources they need. This critical requirement has been responded by the APMG PPP Certification Program, which is an innovation of the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB), the Islamic Development Bank (IsDB), the World Bank Group (WBG) and part funded by the Public-Private Infrastructure Advisory Facility (PPIAF). Recently, the international PPP community celebrated 10,000 Certified Public-Private Partnership Professional (CP3P) exams.
In every PPP-related event on the globe, now we can see a trace of CP3P by the presence of either the APMG International representatives and ATOs (like Training Bytesize) or certified professionals. Certified Public-Private Partnership Professional scheme is designed by the PPP community for the PPP community to build capacity required for PPP professionals to work internationally. This is why it is becoming a definitive credential and is anticipated to become a must-have certificate in the PPP field across the globe.
As an innovation of the World Bank, the CP3P program provides all essential things practitioners need through their professional journey to the world of PPP. The CP3P program consists of two major components: (i) the PPP Guide and (ii) the PPP certificate. The guide is available in nine languages and helps practitioners obtain specialized PPP knowledge that is necessary for different stages of the PPP project lifecycle. It also creates a common language which is critical to work in such an international environment of PPP projects with several stakeholders from all around the world.
The structure of the guide is designed to present the PPP knowledge in a way that is useful not only for the practitioners but also for the beginners. The first chapter of the PPP Guide provides an introduction and overview of the PPP lifecycle which can build a foundation of knowledge for everyone. The next seven chapters then deep dive into the specialized PPP knowledge including establishing a PPP framework, project identification and PPP screening, appraising PPP projects, structuring and drafting the tender and contract, tendering and awarding the contract, strategy delivery and commissioning, operation, and hand-back. It makes the PPP Guide a comprehensive learning tool for PPP practitioners. Recently, APMG international reported that the guide has be accessed by over a million PPP professionals. This statistic highlights the need for a PPP Body of Knowledge which has been well responded by the PPP Certification Program Guide.
The second component of the program is the three-level CP3P certificate. Practitioners can benefit a lot along the process of obtaining these certificates. They can decide how deep they would like to dive into the PPP knowledge. For those who prefer to have a general knowledge about the entire process, the Foundation level is a good choice. They will learn many things about the whole lifecycle of the PPP projects, from need identification all the way through the hand-back of the asset. The CP3P-F practitioners understand various technical, financial, and managerial aspects of the PPP projects. Once certified, they can decide to go further into the details and obtain more specialized knowledge about PPP preparation and execution.
CP3P-Preparation level is designed for those practitioners who are involved in the preparation and procurement process. While it is normally necessary for government staffs to know these stages, it would also be beneficial for the private sector to become a CP3P-P since they will better understand the government behavior, thus, will communicate more effectively. Finally, the CP3P-Execution level is designed for both government and private sector to obtain detailed knowledge about how to collaborate during the execution stage of PPP projects. Those who like to have a comprehensive knowledge about the Public-Private Partnership projects are welcome to sit for the three exams and become a CP3P to let the PPP community know that they are well prepared to work in any international PPP ecosystem.
In reality, the process of obtaining the CP3P credential is like a journey with three stations and a great deal of lessons learned. As an Accredited Training Organization, Training Bytesize offers high quality courses delivered by highly skilled trainers with extensive international experience who accompany you through this fantastic journey.
APMG international, as the certification arm of the World Bank, continuously works to improve the program, receives feedback from all players including practitioners, trainers, ATOs, etc., and ensures that the program is well designed and up-to-date. The program materials including the training slides and exams undergo a continual upgrade to ensure high quality training and assessment.
Therefore, ATOs always have access to the latest revision of the course materials which are used internationally. In Training Bytesize, we are committed to deliver high quality CP3P courses. Our Accredited Trainers always present local and international real-world examples and case-studies to complement the training materials and ensure that the courses are applicable in real life. They also benefit from several interactive tools during their courses to interact with learners. Our course evaluation shows that our complementary activities lead to a greater learning and a higher course satisfaction.
Last but not least, now that we are getting through COVID-19 together and light can be found at the end of the tunnel, we should be aware that PPPs have been no exception to the drastic impacts of the COVID-19 pandemic and require revisions regarding their processes and risk evaluation and responses. In addition, if properly procured, well-structured PPP projects can mobilize private financing to address the investment financing gap of governments. These facts once again illustrate the need for qualified PPP specialists and thus confirm the necessity and effectiveness of the CP3P program.