Study On The Decision-making Of Government Investment Projects

As China's continuous promotion of industrialization and urbanization process during"the 11th Five-Year Plan"period, a large number of large-scale government projects accelerate to be constructed. At present, China is at a stage of unprecedented investment boom, it will face new development opportunities and fierce challenges. Government investment projects play a very important role not only in the promotion to the sustainable development of regional economy, society and resources, but also are important ways to safeguard national security and social stability. Given the special nature, complexity and uncertainty of government investment projects, it is essential to study its scientific and rational decision-making. However, since currently government investment projects universally exist some problems, such as highly subjective decision-making, too qualitative decision-making approach, not careful pre-feasibility studies and relatively weak decision-making awareness, as lead to low investment efficiency, management confusion and duplicated construction of the project investment projects, and cause a great deal of economic loss to the state and local government. Therefore, carrying out the deep study on decision-making of government investment projects contribute to the promotion of scientific decision-making for government investment projects, ensure that government investment projects generate enormous economic and social benefits, thus contribute to the sustainable development of the regional economy.The article comprehensively use system engineering theory, public governance theory, institutional economics, agent theory, life-cycle theory and other disciplines theory; use the research methods of a combination of quantitative analysis and qualitative analysis, literature study and Survey study to study the decision-making in government investment projects, build the decision-making theory framework, the decision-making index system and decision-making model.Through comprehensive literature review and standardize analysis of decision-making theoretical study and practice conducting about government investment projects home and abroad, the theory framework about decision-making of government investment projects is constructed, the basic concepts, contents and characteristics about decision-making of government investment projects are cleared, the scope and decision-making criteria of government investment projects are definited. Then comprehensively use the methods of literature study, requency of statistics and expert advice to design a set of decision-making indicators basic framework about government investment projects (GIPDS) constitute of three sub-systems (the overall objective layer, the efficiency evaluation layer, the basic indicators layer) and 22 basic indicators. On the basis, comprehensively use the portfolio Weight method with a combination of subjective and objective, and adopt multi-level fuzzy comprehensive evaluation, construct the decision-making model and evaluation system of government investment projects. Finally, government investment projects decision-making system is designed from such as two levels that the deepening understanding of decision-making system and the countermeasures of improving decision-making system about the government investment projects, hope to provide a theoretical basis and draw reference to scientific decision-making and implementation of government investment projects.