Empirical Analysis On Public Investment Project Performance Evaluation Based On System Dynamics

Public investment project is an integral part of promoting national economic prosperity and improving people’s living quality,the performance of public investment project in one country reflects its’ management level of construction engineering and government administration.Scientific and rational performance evaluation is benefit to improve the problem of bad quality,time delay,and poor public feedback in the implement of public investment project,promoting the quality of public investment project can better drive national economic development.Based on the system theory and method of establishing performance evaluation of public investment project,this paper use Logical Framework Approach,applying budget performance evaluation common index system to choose the basic performance evaluation index,and applying the rank correlation analysis and literature analysis to ensure the weight of evaluation index in every level,and establishing the performance evaluation index system of public investment project.Research found that tri-grade evaluation index can better adapt performance evaluation of public investment project,therefore is generally used.The maximum weight in first-level index is “effect”(0.391),the minimum weight is “input”(0.180),which reflecting the common acknowledge in results orientation of public investment project performance evaluation.System dynamics methodology is applied to establish the public investment project performance evaluation system,analyzing the interactional relationship between tri-grade evaluation indexes,and ensuring the casual loop diagram and critical feedback loop that reflecting interactional relationship of internal elements in system.It is found that the critical feedback loop in internal fund influence path is “C1”,critical factor in public investment project is effectiveness of policy implementation and sustainability impact.Through analysis of 68 sample of public investment project,it is identified that the common problems existing in public investment project management is nonstandard project approval,poor schedule control,irregular fund utilizing and deficient management organization.The typical characteristics of low grade projects are the lack of executive power in system,low aims achieved degree,and poor sustainable impact.Therefore,it is suggested that public investment project should attach importance to project approval in application,narrow examination in project approval basis and procedure of application is needed.Improving cost control and schedule control in implementation phase,making efforts in contract,safe and quality management.Implementing construction agent management system to improve professional level of public investment project management.