Research On Performance Evaluation Of The Third Party Agency Employed By The Finance Investment Evaluation

Into the 20th century, with the rapid development of Chinese society and economy, the size of base and public welfare projects launched by governments at all levels has become increasingly large, and people’s requirements for social welfare have become higher and higher. Government-funded projects, as one of major public welfare products that governments of all levels provide to the masses, have great significance for improving people’s social welfare and the development of societyIt is generally known that financial fund is the main source of funding for governments to invest in construction projects. Therefore, the most important goal pursued by governments is to meet the most rational functional demands with least resource investment. However, most of departments in charge of government-funded projects have a poor ability to manage construction projects, lack of standardization in project management and fail to effectively control building costs of projects, which directly affects the investment efficiency and government image. Therefore, how to strengthen management of government-invested projects has great practical significance for well managing and using the financial fund and improving the investment efficiency of governments, as well as a hot issue of concern for the masses and governments. However, the financial investment review can aptly solve this issue. Financial investment review breaks the original scope of infrastructure management, achieve a transition from an infrastructure investment review to public investment review and from pure investment review to project budgeting review, and develop into an integral part of budget control, providing technical and elementary service in financial management.After over ten years of development, review and supervision of financial investment projects have become an important part in government-invested projects. Financial investment review has gradually developed its corresponding management model and means, saved a lot of financial resources, provided a solid foundation for government departments to draw up and check project budgets and examine and approve final settlement of projects, made a positive contribution to rational allocation and effective use of financial funds, created conditions for scientific and standardized management of project budgets, and greatly supported government reforms of budget. However, in its development process, financial investment review has developed some problems. At present, financial investment review is mainly completed jointly by staffs in financial departments and some third-party intermediaries. The involvement of a large number of people in financial investment review causes management confusion and different review qualities. The review quality is the key in financial investment review, which directly affects authoritativeness of governments, effectiveness of review results and the satisfaction degree of taxpayers. Therefore, it is quite necessary to evaluate the job performance of third-party intermediaries, in order to achieve effective management of them. Effective control is inseparable from scientific evaluations.In this paper, research was made to identify main factors affecting the review quality in the management of third-party intermediaries, in hope of seeking a reasonable and feasible program for performance evaluation.First of all, a detailed survey was made of the basic connotations and development status of financial investment review in China. A lot of related literature was collected. After a large amount of relevant materials were collected, literature review was made. Research was made on the basis of literature review. Secondly, indexes for evaluating performance of third-party intermediaries were explored. A brief introduction was made to commonly-used performance evaluation methods. The fuzzy analytic hierarchy process (FAHP) was identified as the most appropriate evaluation method, based on a comparative analysis. Thirdly, a case study was made of the Laoling Financial Investment Review Center, and the FAHP was applied to make qualitative and quantitative analyses of review effects and get the evaluation results and management program. Lastly, put some recommendations forward to deal with problems in its work.This paper was mainly focused on introducing the basic connotation and work-flow of the Laoling Financial Investment Review Center, to lay a foundation for identifying indexes which can be used to evaluate job performance of third-party intermediaries. Meanwhile, the current situation and problems of the Laoling Financial Investment Review Center were introduced and summarized, and corresponding policy recommendations were put forward to solve its problems, to pave way for building a better financial investment review team. As a major innovation point of this research, the FAHP was applied into job performance evaluations of third-party intermediaries. A lot of real data was used to make qualitative, quantitative and objective analyses, to develop a reasonable and feasible program for performance evaluation and provide direct reference for other financial investment review centers, which can help to strengthen daily management and supervision of financial investment review.