Public-private partnerships (P3s) have long been used globally to finance, build and maintain large infrastructure projects. More recently, P3s have become a trend in the United States as federal, state, and local governments seek innovative solutions to address infrastructure needs amidst a challenging economic environment. If implemented and managed correctly, P3s can support needed infrastructure financing gaps, speed up projects and allocate risk. The model has helped reinvigorate capital improvements across the country in a broadening sector base, a trend expected to continue in the coming years. But with these opportunities are inherent, and in some cases, new risks, to identify, plan for and manage to realize the benefits of P3s and avoid disputes.