Research On Expressway Project Under PPP Framework VFM Evaluation Model And Its Application

Value for money(VFM)is the core concept of PPP and also is a technical method for government to assess whether use PPP mode to provide public services or not,solve the problem of the applicability of the PPP model.Only when the PPP model is expected to create higer economic value than traditional procurement,it will be introduced to the construction of infrastructrue by government.Broaden the exploration and study of VFM theory,evaluation methods and practical application,conducted further standardize in application of the PPP model.Therefore created certain theoretical value and practical significance.Firstly,this paper analyzd the development of expressway investment and financing mode.Secondly,through comparison of PPP and BOT,TOT financing mode,proposed the establishment of expressway PPP financing model.Summarized the development and application status of PPP project VFM evaluation theory,based on the consolidation of risk management theory,gray correlation degree,analytic hierarchy process,statistical value set and stochastic cooperative game theory conducted highway PPP project risk identification,evaluation,sharement and command,determined the public and private optimal risk sharing ratio.According to the specific situation of China's laws and regulations and expressway projects backgroud,localized application to expressway PPP project VFM evaluation model of other indicators,such as: initial PSC factor in the costs associated with its competitive neutrality.Integrated Project Risk Evaluation System,set up a complete expressway PPP project VFM evaluation model.The above-described methods and models optimized public and private risk sharement,PSC form as a reference method to quantify VFM and make project decision.Matured the risk sharing and PSC research to make decision-making more accurate and effective.