Research On Value-for-money Evaluation Of PPP Projects Based On Risk Sharing

With the advent of the PPP mode boom,since 2014,the state enacted a large number of policies and regulations to promote and support the development of the PPP mode.Local government use PPP mode to provide infrastructure and public service,promote the development of the PPP project.As the mass of the PPP projects,due to the use of the PPP model is not perfect and mature,the PPP model is one of the options provide infrastructure products or services.The government can't subjective preference or deny a procurement model,they should have scientific quantitative basis to judge whether the model is value for money(VFM).This study mainly through the analysis of the risk management process,further study of risk sharing influence on PPP value quantitative evaluation.And build value for the quantitative evaluation model which accords with the situation of China that based on the risk allocation as a result,,to provide a more scientific and reasonable calculation method of VFM,provide the reference.for the government evaluate the PPP project cost and effect.First of all,through the theoretical basis analysis and defining of PPP mode,the PPP risk management,quantitative evaluation and the PPP value concept,after analyzing the influence factors of VFM,found that risk sharing results show the retained risk and transferable risk have fatal influence at VFM quantitative evaluation.Secondly,we analyzed the PPP project risk when evaluating the VFM roundly,and analyzed risk allocation how to affect the VFM quantitative evaluation results in detail,Then,put forward the scientific method to calculate probability and statistics risk loss and risk take place probability,,and further study of the relationship between risk sharing and VFM quantitative evaluation,laid a foundation of establishing VFM evaluation model based on risk allocation of PPP project.Next,based summary and analysis of the PPP projects in China,Combined with the specific situation of the China's laws and regulations,to identify the main indicators of the VFM evaluation model(such as initial PSC,competitive neutrality and etc.)to form a complete PPP project evaluation model.Finally,applied the new VFM quantitative evaluation model to specific environment of a case project,according to the specific information and data to do empirical research,verified the the applicability and feasibility of the new VFM quantitative evaluation model based on risk sharing,provides scientific quantitative.for the choice of the PPP model in our country.