Evaluation & Empirical Research Of BT Mode Project Design

BT mode was firstly adopted to solve the problem of government capital shortage in a short time. Due to the need of endemic government's development on city construction and the contractor's trade business, BT mode develops quickly. Comparatively, the theoretical research is deficient. It has great significance theoretically and realistically that BT project design can balance rights and benefits between the investor and the initiator before the contract negotiation.This paper aims to build evaluation mode to BT mode design, to propose and study three questions, including BT mode design, building evaluation index system to BT mode design, and building fuzzy comprehensive evaluation model to it. The main findings are as following:First, propose that the BT mode design includes deal structure design and critical condition design, of which the former one is composed of investment structure, financing structure, guarantee structure, and contract relation, while the latter, purchase cardinal, purchase period and investment yield.Second, set evaluation index system to BT mode, which is composed of deal structure evaluation index system and critical condition evaluation index system, two levels are in the former, the first level contains five categories:investor's quality and background, investment cost component, investment cost source, purchase capital source, supervision of project implementation, while the secondary level includes registed capital etc.20 factors. The cirtical condition index system has 8 first level factors as benchmark interest rate, inflation rate, changes of raw material cost, human wages and constrctor's mechanical plant, purchase schedule and its interest counting, completion time,and project cost.Third, set evaluation mode to BT project design, which adopts fuzzy comprehensive evaluation, and weighting depends on experts'questionnaire and marks scored by them. The deal structure evaluation mode employs the secondary fuzzy comprehensive evaluation, while the cirical condition uses the first one.Last, analyze empirically evaluation mode with AUST project. The deal structure evaluation reveals the findings that there are 62.12% good,21.36% averages, meanwhile, the finding of the critical condition evaluation shows 65.55% are good, and 22.65% average, which is generally coherent with the reality of the project. Finally, the weighing redients'coefficients of factors in the evaluation mode are obtained at the same time. By case studying, it is proved that the evaluation model is in coherence with the evaluating purpose. The structure of the evaluating indicator is proper, concise, easy to get. and with complete content. Indicators at different levels can be evaluated since the application of the fuzzy comprehensive evaluation can eliminate the indicator dimension. Therefore. applying this model can balance the rights and benefns between the investor and the proprietor before the negotiation of the contract of the BT project.