Research On The Measurement Of Public Private Partnership Projects Lifecycle Performance

PPP,which has effectively improved the efficiency of public goods supply,has been widely used in the whole world.According to CHINA PUBLIC PRIVATE PARTNERSHIPS CENTER,there has been 9,440 PPP projects with an investment of 14.384 trillion yuan till the end of February 2020 in China.With the implementation of the PPP projects,more and more projects come to the stage of construction and operation.Therefore,performance measurement of PPP projects has become an important task in the current work of PPP projects.It is urgent to establish a feasible performance measurement system of PPP projects.Firstly,the necessity of establishing the performance measurement system of PPP projects was verified by elaborating the background of PPP projects and a series of public documents issued by China to ensure the promotion of PPP projects.At the same time,the related theories about PPP projects and performance were discussed.And the performance measurement stages of PPP projects were divided from the perspective of the life cycle theory,and the tasks and characteristics of each stage were determined to lay a foundation for subsequent researches.Secondly,the original indicators of PPP projects performance measurement were systematically identified from five aspects: stakeholder satisfaction,stakeholder contribution,strategic objective,process and capability based on the performance prism model theory by comprehensively analyzing the characteristics of each stage of PPP projects and the views of relevant experts and scholars.And then,the structural equation model was used to verify the original indicators of PPP projects performance measurement through the questionnaire survey to ensure the feasibility of the final indicator system,and thus the measurement indicator system of PPP projects life cycle performance was determined.Then,the subject and process of PPP projects performance measurement were determined,and the target value of performance measurement in each stage of the projects was determined by using TOPSIS.And considering that the performance measurement of PPP projects is a multistage and inter-related process,the fuzzy theory was used to obtain the measurement value of the each stage and the total projects,and thus,the measurement model of PPP projects life cycle performance was established.Finally,the framework was applied to a heating PPP project in Hebei province to verify the usability of the established indicator system and performance measurement model,and suggestions on how to improve performance of this specific project were given.Through establishing the measurement system of of PPP projects life cycle performance,a new field of vision for the performance measurement management of PPP projects in China is provided and this will lead to the healthy and normative development of PPP projects.