In 2010, the Government of the Philippines successfully initiated reforms to revive the national public–private partnership (PPP) program. These efforts have resulted in the award of nine PPP projects (total investment of US$3 billion) by 2015, up from six PPP projects awarded from 1992 to 2010. The project pipeline increased from 11 projects (US$3.3 billion) in November 2010 to 45 projects (US$23.2 billion) in March 2015. Given the rapidly expanding PPP project portfolio and based on past lessons learned, the government needs to improve management of contingent liabilities arising from the PPP contracts