Combining Philanthropy with P3 Project Delivery for Construction Projects
While many in the development and construction space are familiar with the Public-Private-Partnership (P3) model for the delivery of construction projects, we are beginning to see how adding a fourth “P”hilanthropy can bring about a positive benefit to society. While originally discussed by McKinsey relating to sustainability projects, this article discusses an example of how the application of the P4 model by the Dept. of Veteran Affairs provided great results and benefited veterans around the country. It will be interesting to see if other worthy causes draw similar interest and promote the expansion of a P4 model to other large construction projects.
A recent article published by McKinsey Sustainability last month discussed the emerging concept of the Public-Private-Philanthropic Partnership (P4) in relation to sustainability efforts and projects around the world.
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