Performance Evaluation Of The Public-Private Partnerships(PPP)Projects

In recent years, China have set off a new round of PPP wave, as of February 29, 2016, the country have 7110 PPP projects into a comprehensive information platform, the project total investment of about 8.3 trillion yuan, covering energy, transportation, water conservancy construction and other 19 industries[1]. At the same time, governments of all levels have issued a large number of policy documents to regulating the operation of PPP projects. However, compared with developed countries, the institutional environment of PPP is still not perfect, especially the lack of effective performance evaluation method, greatly increases the risk of the project. Although the Ministry of Finance has promulgated the "PPP project VFM Guidelines", but in practice has not been proven and effective implementation. In this context, this study of PPP project performance evaluation system and method, has more important theoretical and practical significance.This paper analyzes the performance of PPP Situation and study, through the study of the basic theory of PPP and VFM evaluation methods, expand the scope of use of VFM, described the impact of the financial, efficiency and risk indicators VFM three dimensions, through to screening index, get metrics PPP project to build a representative performance evaluation system, Build on three dimensions based on the perspective of performance evaluation system VFM PPP projects, PPP project calculation principles expounded Comprehensive Performance, empirical analysis of YJX sewage treatment plant project case, showing the PPP project performance evaluation system in the actual use of the project, through the analysis of the results of the calculation, based on test validity and feasibility of the four dimensions of performance evaluation system is proposed for YJX sewage treatment plant project proposals to enhance project performance. In this paper, the effective application of research findings can provide guidance for the performance evaluation of PPP projects, promote the efficiency of PPP projects to enhance the health and development, but also for the government to provide a basis for decision-making and supervision of PPP projects.