The publication is devoted to a current state of Public-Private Partnerships (PPPs) and to prospects of its development as a worldwide phenomenon. A methodology is formulated how to analyze interaction (mainly in economic sense) between government authorities, business and civil society – within a framework of “triangle” – during the implementation of PPPs programs and projects. It provides a broad picture of approaches toward PPPs implementation and its potential consequences. It also shows outcomes – giving a series of case studies – of actual PPPs projects, which have been undertaken in various sectors of economy in many countries around the world. An attempt has been made to analyze – in their complexity – critical factors that might be helpful for success of PPPs development in Russia.