| With the rapid development of urbanization and economy in China,the traditional buried pipelines have exposed many problems,which seriously affect people’s travel,safety and city appearance.Because of its unique characteristics,utility tunnel can effectively solve these problems,and bring huge social and economic benefits.In recent years,it has been vigorously promoted and constructed in China.However,the cost of underground utility tunnel is higher in the early stage.If only relying on the government will inevitably cause the shortage in funds and bigger financial pressure.In recent years,china government is actively seeking diversified investment channels.In 2014,a new round of PPP upsurge was initiated in China,providing new method for financing mode of underground utility tunnel.PPP in Chinese means "Public-Private-partnership" and refers to a financing mode in which the public sector provides public goods or services to society through long-term partnership with the private sector on the basis of benefit-sharing and risk-sharing.PPP model can alleviate the government financial pressure,give full play to the resource advantages of the government and social capital,and is beneficial to improve that efficiency and reducing the construction cost,has become an important financing model for the construction of utility tunnel.In order to make PPP project conduct smoothly and prevent mistakes in decision – making,the Ministry of finance requires all projects must be evaluated by VFM,which is a scientific and reasonable evaluation method for procurement mode.Improving VFM can improve the efficiency and efficiency of PPP projects,can provide high-quality products and services for the community,and also promote the long-term development of PPP projects.In order to explore the correct and reasonable method to improve VFM,it is necessary to find out the factors that motivate PPP project to achieve VFM and analyze its importance.Based on the related theory of PPP mode and VFM,combined with description of specific characteristics of underground utility tunnel PPP project,this paper will make a thorough study on the driving factors of VFM of utility tunnel PPP project.In order to make the driving factors more operable,this paper firstly summarize the driving factors by querying database with more relevant literature for VFM driving factors;Secondly,retrieve the PPP project in the information database published by the government of the Ministry of finance and the social capital center,and then qualitatively evaluate the driving factors.Thirdly,analyze the utility tunnel PPP project life cycle VFM evaluation process combining with utility tunnel characteristics.For the most important identification phase,composition of PSC and PPPs were analyzed,which are important components of VFM quantitative evaluation.Further analyze the driving factors of quantitative evaluation.Finally,experts from different fields were interviewed to determine 33 driving factors.This paper designs a questionnaire for the list of driving factors,and uses SPSS softwareto carry out principal component factor analysis,and extracts seven principal components as follows: project economy,project characteristics,policy and social environment,project participants,project output,and utility tunnel pricing,then uses AMOS software of SEM to quantitatively analyze the influence of each factor,to obtain importance of each principal component,core factor,minor factor and general factor,meanwhile constructs the factor dynamic influence frame of " input → cost → output".Finally,this paper selects the actual case of utility tunnel PPP project in a district of city.Based on the specific data empirical research was conducted by using qualitative and quantitative evaluation of the VFM case to verify the influence of driving factors on the realization of VFM,and further put forward suggestions and measures to improve VFM. |
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