Based On Group Decision Of Public Project Investment Decision-making Method Research

In recent years, a substantial increase in public investment in order to reversethe tide of economic development from the government, to maintain the growth ofeconomic at a stable level. The public project investment decisions of china are notsufficiently standardized. In addition to the institutional and legal factors, Publicinvestment decision-making system is imperfect, decision-making index system isnot perfecta and the public investment decision-making method behind is the majorfactor. The randomness and blindness when make the investment decisions of publicprojects, has brought huge losses to the country and its people. It’s also brought alegacy problems endanger the sustainable development of the socio-economic andecological environment. Because of the urgent needs of the public investment tobuild a new public investment decision-making index system and the establishmentof a new public investment decision-making method has important practicalsignificance.In this paper reviews the theory of group decision and the development processof public investment decisions, Use of the theory of welfare economics,the theoryof sustainable development and the recycling economy theory to build a publicproject investment decision-making index system; Since the investmentdecision-making on public projects, Use Delphi method to evaluation the data ofpublic project decision-making indicators and cluster analysis method and entropymethod to Entropy Method and cluster analysis to calculate the decision values. Anduse the TOPSIS method to sort the decision-making value, according to the size ofthe decision makers to judge program quality.The paper focuses on two aspects, first, the building of decision-making indexsystem investment in public projects based on the theory of welfare economics,circular economy and sustainable development. This indicator system reflects thewelfare of the public project development, fairness and efficiency objectives; it’s acomprehensive public investment decision-making index system. Secondly, Groupdecision theory and public investment decisions combine to new decision-making;this method can solve the complex question public project information uncertaintyand decision of the diversification effectively, also provide a new approach todemocratic decision-making.