Research On Performance Evaluation And Management Of Public Investment Project

With the initial foundation of the framework of public finance,Chinese financial management has turned into a new stage,where it has transformed the focus from on the revenue management to the strengthen of financial expenditure management and improving the efficiency of fiscal spending.The research and exploration of Chinese public investment performance evaluation theory and practice, and the scientific evaluation of public investment projects' economy, effectiveness, efficiency and fairness, not only are the institutional innovations of public expenditure management reform of new period , but also are the important measures of changing public finance functions, adjusting investment structures, optimizing investment directions, improving investment benefits and investment decision-making levels. The paper reviewed the project evaluation process and the development status quo of domestic and abroad, studied the public investment project performance evaluation of the theory, evaluation methods, the index system and management system comprehensively, and then fulfilled the empirical research.The first chapter is the introduction of the paper. The paper researched and analyzed the development process of the project evaluation, evaluation content of domestic and abroad in-depth. Based on the review of existing theories, methods, the paper pointed out the problems of Chinese public investment project evaluation:①Project performance evaluation theory, content and methods are developing from single to the diverse.②The evaluation of a management system, which is composed by index system, organizational structure, feedback mechanisms, need to be improved yet.③The current investment project management system has been unable to adapt to the new developing needs.④The existing supervising requires changes in consciousness. It should evaluation of the performance of the project by the view of scientific development and optimize the allocation of social resources , and change to the performance-oriented supervising approach of "beforehand-preventing, under way-supervising, afterwards-concluding and improving".The second chapter is the part of theoretical analysis. On the basis of comparative analysis with the traditional evaluation, the paper elaborated the definition, characteristics, basic principles and contents of the performance evaluation. The chapter identified the theoretical support for follow-up research, by the analysis of theory of public finance, "3 E" -principle, entrust-responsibility. The theories of Cost - benefit analysis, control and feedback, sustainable development, constitute the application basic of performance evaluation of public investment projects. On this basis, the paper discussed performance-oriented evaluation model of public investment projects, constructed the model theory which is consisted of two closed-loop control process: evaluation and feedback process, monitoring and control process. The model theory will be implemented by the combining tools of on-line monitoring and on-site evaluation.Chapter III is the study of evaluation methods. This chapter elaborated six kinds of common evaluation approaches, analyzed and discussed the applicability and limitation of various approaches. Considering the fuzzy characteristics of indicators establishing, weight confirming, evaluation criteria choosing, results determination, the chapter brought forward AHP-FCE evaluation methods and the work processes, described the application of mathematical model.Chapter IV is the study of Index System. Based on the use for reference of relevant research results, the paper pondered construction goals, basic principles, construction method and the preliminary design carefully. The paper designed the index system in-depth which is composed of five hierarchies: the performance of management, economic, social, ecological environment and sustainable development. And a performance evaluation index system framework was finally constructed, which was composed of five-criteria, 19 indicators, 55 sub-indicators.Chapter 5 is the study of calculation method. Papers discussed quantitative method of the properties of index value in accordance with two kinds of index——quantitative and qualitative, and analyzed three calculate approaches of the index weight: subjective, objective and mixed. Then the subjective approach AHP was identified and all the indexes weight was calculated. We gained three stages of the weight distribution table: before, during and after. At last the results of distribution were discussed and analyzed. Chapter 6 is the study of management system. After the analysis and summarization of the status quo and development trend of domestic and overseas public project performance management, the paper conceived and designed the project performance management system by a comparative analysis method. The contents included four perspectives: the institutions, mechanisms and building regulations, procedures, results and feedback mechanisms.Chapter VII is the case of empirical research. The sandstorm sources control project in Beijing and Tianjin district was chosen as a research project. The evaluation index system of the during stage was applied in the performance evaluation. The paper chosen the method of expert points to evaluate the project comprehensively, then analyzed the evaluation results and proposed conclusions and recommendations.Finally, there is some conclusions. The paper summarized the guiding significance of the study of empirical research, pointed out the theoretical innovation, inadequate, and the future study directions.