The public private partnership (PPP) is actually one of the most important procurement mechanisms of project development. The developed countries have implemented this method for build infrastructure in a variety of sectors: transport, telecommunications, power, water, sanitation, health, education, and correction facilities among others. Despite the positive international experience, some of the developing countries only have implemented PPP as a delivery method for construction transport, telecommunications and power infrastructure. This countries have not yet started to use the PPP mechanism for social infrastructure for three principal reason: a) the lack of policy and legislation, b) uncertainty of risk allocation, and c) financial feasibility. This paper aims to identify the risk allocation and economic feasibility for the developing of a public school in Colombia. The risk allocation was made by a bibliographic review and interviews with experts from the academia, public sector and private sector. The economic feasibility evaluation was made by an Public Private Comparator methodology and the Monte Carlo Simulation. The results demonstrate that the private sector have to assume natural risks, financial risks, macroeconomic indicators risks, construction risks, and operational risks. This study proved that the social infrastructure projects by PPP implementation are economic advantageous because the project provided “value for money” to the government.