Market players say public-private infrastructure partnerships need to be administered through a "programmatic" approach at the state or federal level, not on a case-by-case basis. The current system of project-based partnerships involves too much preparatory work each time. Chee Mee Hu, managing director for Moody's Investors Service, suggests the multi-project P3 initiative launched by the Georgia Department of Transportation last week that involves passenger, intercity and high-speed rail along with managed lanes might serve as a test case for the programmatic management of infrastructure.

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