In this episode of the Project Chatter podcast, hosts Val and Dale engage with Riccardo Cosentino to explore the unique aspects of the REM project in Canada, a public-private partnership (PPP) model that has garnered attention for its innovative funding and governance structure. Riccardo shares insights into the project's background, the role of the Quebec pension fund as a project sponsor, and the implications of risk management and return calculations. The conversation delves into the importance of early stakeholder involvement, the challenges of public opinion, and the potential for replicating this model in other sectors. Throughout the discussion, the significance of governance, long-term perspectives, and the necessary skill sets for project professionals are emphasized, providing valuable takeaways for listeners interested in infrastructure projects and PPPs.
Takeaways
Chapters
00:00 Introduction and Guest Background
03:24 Understanding Public-Private Partnerships (PPPs)
06:11 The REM Project Overview
08:56 Funding and Risk Management in the REM Project
11:55 Calculating Returns and Land Value Capture
14:33 Governance and Project Delivery
17:21 Long-Term Perspectives and Lifecycle Management
22:47 Changing Dynamics in Project Management
24:35 Governance and Change Management in Projects
26:38 Replicating Successful Project Models
29:08 Applying the Model Beyond Rail Projects
31:07 Reporting Mechanisms and Governance Structures
33:55 Skill Sets for Successful Project Delivery
35:39 Advice for Aspiring Project Professionals
37:27 Resilience in Today's Project Challenges
39:40 Future of the CDPQ Model and Its Replicability