Research On Improvement Of Value-for-money Model Of PPP Projects In Underdeveloped Areas

In the context of the “Belt and Road” and the large-scale development of the western region,less developed regions in the central and western regions of China have been vigorously developed.The data obtained from the national government and social capital information platform show that the net investment amount,investment amount,and landing rate of PPP projects in less developed regions have all improved.The value-for-money evaluation is the basis for judging whether a project needs to adopt the PPP mode,but there are certain problems in the process of use in less developed areas.Based on the study of the characteristics of less developed areas,this paper improves the qualitative and quantitative evaluation of value for money,and provides theoretical and practical references for the value for money evaluation of PPP projects in less developed areas in China.This article studies the characteristics of underdeveloped areas and the problems of PPP projects in underdeveloped areas with a literature analysis method.The qualitative and quantitative analysis methods and mathematical model methods are used to improve the qualitative and value-for-money evaluation of value for money.Finally,the cases in the less developed regions were selected for verification and explanation using case analysis and expert scoring.The main research contents and results of this article are as follows:(1)The characteristics of the less developed regions are mainly explained from two dimensions.One is economics,culture,and environment,and the other is to explain the characteristics of underdeveloped areas from two aspects: imbalanced development and insufficient development.The analysis of the application status of PPP projects in less-developed areas is to obtain data from the national government and social capital cooperation(PPP)comprehensive information platform and draw conclusions.Finally,Gansu Province,Yunnan Province,Guizhou Province,and Tibet Autonomous Region were selected to summarize and summarize the problems existing in their PPP projects,and the main problems in PPP projects in less developed regions were obtained.(2)The improvement of qualitative evaluation of value for money is mainly to improve the existing evaluation indicators,scoring standards and evaluation stages.The improvement of the evaluation indicators is mainly based on the characteristics of the less developed regions and the problems of the PPP projects in the less developed regions.The existing indicators are appropriately modified and targeted secondary indicators are added.The improvement of the scoring standards is mainly to refine the existing scoring standards in order to allow experts to have more detailed standards when scoring.The refinement of the original evaluation standard with a score of 20 divided into a score segment was refined into a score with a score of 10,and additional index evaluation criteria were added.Finally,the qualitative evaluation of the procurement phase is proposed,and the qualitative evaluation of the project procurement phase is simulated in the case.(3)In the quantitative evaluation of value for money,the more commonly used public sector reference standard method is selected.The selection of the discount rate involved is based on the analysis of four discount rates: social time preference discount rate,social opportunity cost of capital,capital asset pricing model,and risk-free interest rate.The impact on the calculation results of VFM is relatively small,and it is finally determined to use a risk-free discount rate.When dealing with the problem of quantifying risk,the fuzzy analytic hierarchy process is mainly selected to calculate the risk loss,and the set value statistical method is used to calculate the risk occurrence probability.The core idea is to obfuscate the subjectively derived data mathematically,and finally make its results more realistic.(4)The case study was selected for Gansu highway project.In the qualitative evaluation process,the improved primary indicators are scored in the decision-making stage,and the proposed secondary indicators are scored in the qualitative evaluation of the procurement stage.Finally,two stages of evaluation results are obtained.In the process of quantitative evaluation,fuzzy analytic hierarchy process and set-valued statistical method are used to quantify the project risk,and the final VFM value is calculated.After the conclusion is obtained,the sensitivity analysis of the four factors of project construction cost,risk quantification value,competitive neutrality adjustment value,and government financial subsidy is ± 10%,± 20%,and ± 30%,and corresponding conclusions are obtained.