How Does A P3 Work?

By Tiara

A project-based education model, also known as a direct-deposit teaching program or open academic system, is one where students are not enrolled in a specific degree but rather learn through projects that they constructs with other students.

This educational approach was first popularized at the University of Cambridge in England and has since been adapted and implemented across various universities all over the world. In this type of setting, students do not need to be affiliated with a university for them to graduate, only needing to complete their project and have it approved by faculty members before receiving their diploma.

The benefit of this method of education is that it does not require too much structure, which many students may not enjoy. Students can choose how they want to organize their studies and what timeframes they feel comfortable within without feeling pressured into studying beyond their ability. This helps some students who struggle with organized study modes find an environment that works better for them.

For students who already possess good organizational skills, however, this style of learning can help them apply these strategies to other areas of their lives. Because there isn’t necessarily a set end date for each project, sometimes people use this extra time to start new activities or explore new subjects.

Process of a P3

how does a p3 work

A partnership, production company, or creative agency is given access to an asset – like an episode of a show, a section of a book, a picture, etc. They then work with another organization to create new content using that asset as a template.

This second piece of content is typically shared along with the original asset (with credit for both). Most people know what a parody video or remix is — you may have seen one before!

A parody or remix can be made about anything from music to movies to TV shows to books to inventions. It doesn’t even need to make sense — it just has to get laughs.

Who can be a partner in a P3

how does a p3 work

Being a part of a P3 organization means that you do not need to belong to an existing business or academic institution to use what they offer. You can form your own private company, work for another company as a consultant, or start your own product or service – all with their funding!
As long as you are able to show that you have money coming in and going out (revenue) and you both agree that this project is worth investing in, then you get matched up together to produce or find products or services that will make the product successful.

You don’t have to take on every job offer that you receive, but if you manage your time well you can stay within your budget. It is also helpful to know some of the people at the other end of the partnership so that you aren’t overpaying due to poor quality of service.

Legal requirements for a P3

how does a p3 work

There are two main types of public private partnerships (or PPAs), project-based collaborations and revenue-sharing agreements. Project-based collaborations typically involve two or more companies that work together to produce a product or service. For example, a company that makes windows can collaborate with another company that designs interior spaces to make glass doors.

The output is usually one product, so it’s easy to measure success – you either have the window or you don’t. But this can sometimes be misleading because it doesn’t take into account how much money was spent on research and development, marketing, etc.

A better way to look at it is to compare what the individual partners would have made if they worked alone, on their own, without the other partner. This is called internal rate of return (IRR). The higher the IRR, the more profitable the partnership.

In a revenue sharing agreement, one party provides goods or services to the other, and in exchange, they get paid according to an agreed upon formula. It’s similar to buying and selling a house and a fixed price per square foot. The only difference is that instead of paying a set amount, each person gets a share of the income.

Both types of PPAs require very careful legal documentation and regulation.

Financial requirements for a P3

how does a p3 work

The second key requirement to consider as an owner is financial. You will need to have enough money to run your school for at least two years, if not longer. This can be very difficult because you will probably spend the first year trying to get started and then the next two teaching somewhere else!

Mostly due to budget constraints, most private schools are limited in how many students they can accept. This is why it is important to be honest with yourself about whether this is really the right fit for you and what kind of education you want to give your child.

If you feel that there is no hope for your child at your current school, talk to them about opportunities elsewhere. There may be another teacher or staff member who could use their skills more effectively or a parent group that could help recruit new members.

There are several ways to fund-raise for your potential school so don’t worry about that! But do make sure that you look into the appropriate funding sources before investing too much time and money into the project.

Choosing your partner in a P3

how does a p3 work

In a private-public partnership, or P3, an organization partners with another party to achieve their goal. In this case, that organization is benefitting from the partnership through access to resources or expertise they lack.

The partner gets what they need by lending their own resources to help you reach your goals. You receive more helpful information because you have someone else watching out for you!

This article will talk about some of the reasons why this type of collaboration is very advantageous. But first, let’s discuss one of the most important things about partnerships — choosing your partnering company carefully.

Why picking your business partners matters

As we mentioned before, a private-public partnership comes down to giving each other aid and going after the same thing. This means there are two different types of relationships people form with these collaborations:

1) They may work well with the companies you invite into your partnership. For example, if you want to do something new like try public speaking, then you would not invite only big corporations as speakers.

You would include a small business who does similar talking and perhaps even pays you for the chance to speak about it. Or maybe you get paid by the audience to show them how to do it themselves!

2) There can be internal conflicts when collaborating with others.

For instance, say you wanted to start your own business but were limited due to budget constraints.

Contracts in a P3

how does a p3 work

For private universities, like USC or UCLA, or public institutions, such as Stanford or UC Berkeley, there is another option. This option is referred to as a partnership, parallel program, or project-based learning (PBL) system. In this type of setting, an organization will connect with a university or department that offers the same degree but does not have enough students.

The organization partners up with the department by offering money to cover their tuition. The student is still enrolled at the normal school level, but now he/she has additional education outside of class time from the partner institution.

This way both parties benefit! The organization gets their degree for less cost, and the student receives more education.

Operations in a P3

how does a p3 work

The second stage of your business’s launch is to get ready for growth through what’s called operationalization. This is the process of turning your business idea into an actual organization with people performing specific tasks and functions within the company.

By this stage, you’ve probably already done some market research, gathered some needed resources, and created your initial product or service. You have also most likely found at least one other person who shares your vision and will help you achieve it.

Now it’s time to organize these things and establish routines to ensure success. These are the crucial steps towards running a business!

A good way to do this is by creating what we call the “P-Grid.” A P-grid is made up of three parts: Product (or services), Process (what you do to promote and grow the product) and People (the individuals that work for you).

With each part organized and mapped out, you can now begin to develop and implement the processes necessary to succeed as a business owner.

Shareholders’ agreements in a P3

how does a p3 work

In a public-private partnership (PPP), private companies work with government agencies to implement an innovation or project. They typically give the company a stake in the project, as well as funding and expertise for its operations.

Once the project is completed, the private partner usually exits the scene, leaving the taxpayer holding the bag. This isn't necessarily a bad thing, but it does pose some questions about how effectively taxpayers are running their departments.

In fact, one of the most important things that you will learn about investing today is the importance of good shareholder agreements. These agreements outline what happens to the stock, if and when the investor decides to sell, and even what dividends they should pay if they do decide to liquidate.

Without these contracts in place, investors may be able to walk away without compensating the firm they invested in!
Public Private Partnerships come with lots of legal documents and contract clauses. Unfortunately, not everyone has experience drafting such documents, so there can be big disagreements over who gets paid and why.

That's why it is very important to have professional help during the initial formation of your investment and at all times while negotiating future investments.