Research On Public Investment Project Performance Evaluation

According to the theoretical perspective of development economics, public investment is the main driving force and engine of a country’s economic development.30years, China’s reform and opening up the country’s rapid economic development for30years, is also a public investment is expanding for30years. Especially since1998, began to implement the proactive fiscal policy, national efforts to increase public investment. This is not only effective in stimulating domestic demand and to withstand the Asian financial turmoil for our country toward economic recovery towards the rapid growth, made a great contribution to the effective macro-control, but also for our government in how to use fiscal policy has accumulated valuable experience. China’s Practice has proved that the public investment projects are to promote national economic prosperity and improve people’s quality of life an integral part of, the maintenance of social production and life. Especially in the current policy of expanding domestic demand, public investment projects for the sustainable economic and social development, promote the building of a harmonious society has played a pivotal role. However, the rapid increase in public investment at the same time, often accompanied by project decisions the high failure rate, the proliferation of image projects, the "three excesses" projects,"rubbish" projects, projects surveyed, designed and constructed at the same time frequently exposed misappropriation of construction funds, officials the occurrence of phenomena such as corruption, the performance of public investment projects increasingly close attention to the social and public. Therefore, to enhance the study of theory and practice of public investment projects, performance evaluation, to establish sound and effective public investment projects, performance evaluation mechanism is particularly important and urgent. This article seeks to in-depth, systematic study, to explore new ideas to improve the performance evaluation system of public investment projects, propose solutions to problems through the performance evaluation of public investment projects, build public investment projects,"5E" principle-oriented performance evaluation system to try to establish a theoretical science, practical, a complete system of public investment projects, performance evaluation system, to provide a reference for performance evaluation of public investment projects in China, and performance evaluation of practical work.The full text is divided into six chapters. The main content and perspectives are as follows:Chapter1, Introduction. After the introduction of the background, the significance of the topic, review domestic and international public investment projects, performance evaluation on the basis of research results, the research ideas, methods, content, and cited the paper the possibility of innovation and inadequacies.Chapter2, The basic theoretical analysis of the performance evaluation of public investment projects. First, the concept, content and scope of public investment projects were defined. Secondly, the concept of the performance of the comb, and expounded the basic content of the performance evaluation of public investment projects. Finally, in the conditions of public goods, public choice, principal-agent, the basic theory of welfare economics, a theoretical framework for performance evaluation of public investment projects.Chapter3, Performance evaluation index system of public investment projects. First, the principle of building a performance evaluation index system, advocated the "5E" principle argument. Second, the specific performance evaluation classification elaborated. Finally, in-depth analysis of problems in building performance evaluation index system, and the corresponding counterm easures.Chapter4, Public Investment Projects Performance Evaluation Model to compare and Empirical Analysis.(1) For cost-benefit analysis, value engineering, the principle of earned value analysis, analytic hierarchy process, performance evaluation model is focused on the principle and compared.(2) The rational choice performance evaluation model problem should be pay attention to.(3) Empirical analysis. This paper in Dehong prefecture in Yunnan province surgical building investment project as an example, the use of analytic hierarchy process (AHP), constructing evaluation index proportion, from the project investment, process, output, the effect, the efficiency, effective, fair, ecology, etc. Eight aspects the objective performance evaluation is systematically.Chapter5, The quality control of the performance evaluation of public investment projects.(1) The content and features of the performance evaluation of the quality of the preliminary elaboration and analysis.(2) Performance Evaluation of risk analysis.(3) Focuses on the role of public investment projects, performance evaluation of quality control, the characteristics and influencing factors.(4) Performance Evaluation of the composition of the quality control system structure.Chapter6. China’s public investment project performance evaluation problems and countermeasures. Introduced on the basis of the historical evolution of the performance evaluation of public investment projects in China, focusing on the problems of performance evaluation of public investment projects in China, and put forward corresponding countermeasures and suggestions.Fully absorb the results of previous studies based on an attempt to achieve a breakthrough and innovation in the following areas:1.Narrow public investment projects, and generalized the concept of public investment projects, and its epitaxy were compared and analyzed. The paper argues that the concept of a generalized public investment projects, such public investment projects is no longer confined to the government as the main fixed assets investment projects, but extends to education, public health, culture and sports-related projects and human capital development. Object and content of such a public investment project performance evaluation is more extensive and rich.2. Build public investment projects, performance evaluation index system, the view of the "5E" principle. Traditional performance evaluation index system in accordance with the "3E" principle (the economy, efficiency and effect) to build, this article advocates the "5E" principle, ie, in the original "3E" based on the principles, but also equity, ecology, two principles add to the mix, prominent on the public investment projects in the social and ecological environment in the performance evaluation.3. Carried out a systematic study on the performance evaluation of public investment projects, quality control problems. This paper argues that the direct target of the performance evaluation of quality control is to reduce the risk of performance evaluation. The higher the quality of performance evaluation. the risk is smaller; the lower the quality of performance evaluation and the greater the risk. The performance evaluation of the quality control is a full participation of all processes in all control activities.4. Value engineering, earned value analysis model used in the performance evaluation of public investment projects, enrich the evaluation method of performance evaluation of public investment projects. Wider application of value engineering in enterprise management, but has yet to be applied in fiscal management, value engineering in the application of the performance evaluation of public investment projects, and the selection method of the lowest costs in the fiscal management of value engineering a special case. Earned value analysis method is mainly used for public investment projects into the evaluation of the process.