Public-Private Stewardship

Book excerpt: This book offers a defense acquisition perspective that provides action orientations and decision making to increase the value-for-money (VFM) of public-private partnerships (PPPs) through public-private stewardship (PPS). The differing motives of the public and the private sector are not conducive to partnership that leads to optimal outcomes. PPS is offered to practitioners and academics as a solution to failures of PPPs by following the public stewardship tenets of fiduciary responsibility and advancing the public interest while factoring in the additional elements of the private sector. The public values of transparency, accountability, responsibility, responsiveness, efficiency, effectiveness, equity, diversity, inclusion, fairness, and security, among others, can be shared in success between the public and private partners. By establishing shared values aligning with each stakeholder’s measures for success, it is possible to devise value propositions for stakeholder decision making that supports inter-organizational strategy, operations, tactics, goals, and objectives. PPS practices can further ensue as the public-private steward utilizes tools of expertise and organizational capacity. The book provides seven portraits of practitioners in the practice of PPS to assist PPP stakeholders achieve VFM. PPS is illustrated using examples in the Department of Navy (DON) and Department of Defense (DOD).