Public-Private Stewardship: Achieving Value-For-Money in Public-Private Partnerships - Hardcover

by Joshua M. Steinfeld (Author)

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).

Back Jacket

In this well-written book and valuable contribution to improving PPPs, Joshua Steinfeld provides insightful theoretical, conceptual, and practical approaches for Public-Private Stewardship practices for achieving improved VFM and PPP outcomes."

-- Rene Rendon, Associate Professor, Naval Postgraduate School, Monterey, CA, USA

"Joshua Steinfeld has masterfully discussed and assimilated longstanding Defense and Federal acquisition tenets into and practical processes and actual examples for successful public and private sector partnerships."

--Jeff Brunner, Senior Acquisition Advisor to the Chairman, U.S. Joint Chiefs of Staff (Retired), Washington, DC, USA

"As governments and firms partner on large complex projects, Dr. Steinfeld provides a compelling case of the need to align public values with business interests to ensure a successful outcome. Dr. Steinfeld's tour through recent U.S. Department of Defense procurement provides an illustrative context for these increasingly common partnerships."

--Trevor Brown, Dean, John Glenn College of Public Affairs, The Ohio State University, Columbus, OH, USA

This book introduces public-private stewardship (PPS) as a theory and concept to achieve value-for-money (VFM) in public-private partnerships (PPPs). PPS incorporates the public stewardship tenets of fiduciary responsibility and advancing public interest factoring in private sector elements. Value propositions can be derived from shared values of transparency, accountability, efficiency, effectiveness, sustainability, innovation, and security that support decision making for inter-organizational mission, strategy, operations, and objectives. PPS practices ensue as the public-private steward utilizes competencies in procurement and contracting. Seven portraits of PPS to achieve VFM are illustrated by Department of Navy and Department of Defense examples.

Joshua M. Steinfeld is Assistant Professor of Public Service, Director of the Graduate Certificate in Public Procurement & Contract Management, and Director of the Graduate Certificate in Public Sector Leadership at Old Dominion University, Norfolk, VA, USA.

Author Biography

Joshua M. Steinfeld is Assistant Professor of Public Service, Director of the Graduate Certificate in Public Procurement & Contract Management, and Director of the Graduate Certificate in Public Sector Leadership at Old Dominion University, Norfolk, VA, USA.