Why PPP is better than OOO

While UK Members of Parliament (MPs) gleefully bash away at public-private partnerships (PPPs), accusing them of being little more than a swindle that allows the private sector to reap enormous profits at taxpayer expense, it would be useful to show them the below chart, drawn up by Paul Swanenvleugel, a director at PriceWaterhouseCoopers in the Netherlands.
 
At just a quick glance, the differences between public procurement and PPPs are elegantly summarised for all to see. For the likes of Conservative MP Jesse Norman, it would be especially useful to look at the big red box labelled ‘payment based on availability’, which indicates that the private sector only gets paid if it maintains assets to pre-agreed standards, instead of just cashing in on taxpayer money for free.
 
It would also be instructive to pay attention to the three dark green bars: they represent the overruns that cost taxpayers considerable time and money in public procurement but that, funnily enough, rarely seem to get mentioned by MPs in these discussions.
 
So for those looking for a neat way to label the disadvantages of public procurement (or just another three-letter acronym), why not try the three Os: cost overruns, time overruns and running cost overruns?