Public–private partnerships (PPPs) change how governments work. They introduce competition into the provision of public services, mobilize additional expertise and financial resources, adopt life-cycle asset management within a results-based approach, base payments to service providers on performance, and allow governments to reduce the risks they bear. These innovations can help deliver public services faster, at a lower cost, and at higher quality. To achieve these benefits, however, the right projects need to be identified, and PPPs need to be developed and implemented effectively.