Research On Evaluation For BOT-Invested Infrastructure Project

Since the reform and opening up, the infrastructure construction has developed rapidly. And, because of the government’s lack of funds and other reasons, the BOT mode has become an important support for infrastructure construction. However, the construction of infrastructure projects under the BOT mode has several characters:vast investment long investment recovery period, various uncertainties and vulnerable to the impact of the national economic policy. So, how to evaluate a BOT-invested infrastructure project scientificly and reasonably has become an urgent problem.Firstly, this paper analyses deeply on the evaluation object, evaluation process, evaluation indexes and evaluation methods according to BOT-invested infrastructure project evaluation models from both inland and abroad. On this basis, proposing the mainly existed problems in China’s BOT-invested infrastructure project evaluation.Secondly, for the problem of confusing subjective and objective evaluation object, this paper divided the traditional evaluation object to company ability and project attractiveness, evaluating whether participate a BOT-invested infrastructure project in both subjective and objective aspects, providing the evaluator with a mint perspective and giving a overall framework for the evaluation index system constructionThirdly, for the disunity problem of evaluation index system, this paper asked experts from7expertises to finish a questionnaire. Through the questionnaire,46summerised evaluation indexes of BOT-invested projects were recommended by5levels, and after statistical processing and overlap analysis, the final23ecaluation indexes were determined in this paper, evaluation index system was constructed.Then, In view of tedious evaluation steps, complicated mathematical calculation, insufficient outcome analysis of existing evaluation models, this paper constructed its own evaluation model. The model uses aggregate function, value function and provides the range analysis, sensitivity analysis, comparison analysis and early warning for the outcome analysis. Aggregate function is used to reduce the complexity of computation compared with the traditional methods; the value function is used to simplified calculation and realizes the combination of qualitative and quantitative; comprehensive evaluation based on the value function analysis provides a more reference information for the evaluator.Finally, this paper conducted an evaluation example based on a BOT project and resulted in corresponding data, by which offers analysis and comparison, illustrating the evaluation model’s advantage in calculating and analysis, thus solving the existing problems of traditional evaluation model and providing a new method for BOT-invested infrastructure project evaluation.