Research On Improvement Of Baling Petrochemical's Mechanism Of Post-project Evaluation Of Investment Benefit

In the past, the extensive mode of economic growth has made the state-owned enterprises pay more attention to the size than the benefit, which led to its widespread overcapacity. Baling Petrochemical has faced the challenge of overcapacity recently, as a result, the benefits of many projects consistently remained low. Recently, Baling Petrochemical initially established a post project evaluation system, but current work of post project evaluation always offer recommendations after the events, which does not make any difference in reducing capacity or improving benefit. It is important to study the mechanism of the post evaluation on in investment benefit, which will not only can help Baling Petrochemical improve the projects' quality and efficiency but also provide references to similar enterprises.First, based on defining the core concept and the scope of the study, the paper reviewed the relevant research about post-project evaluation and project benefit evaluation, and then after analyzing the system control theory, principal-agent theory and the theory of sustainable development extracted the influence of those theories on building post-project evaluation's mechanism. Second, the paper studied problems that appeared in the post-project evaluation of Baling Petrochemical and explored the main reason for failure:the target was not clear, the subjects'level of evaluation was too low, the mechanism lacked comprehensive method and the way of achieving function was single. Then the paper suggested building the benefits of post-project evaluation's mechanism. To be specific, the paper reconstructed post-project evaluation's functional goals, strengthened the identification of environmental and social benefits in the post-project evaluation, established key indicators libraries, introduced dynamic benchmarks and achieve further procedures of mechanism. Third, the paper recommended that the company should build a data storage system, establish an independent department and implement the rolling post-project evaluation. The main innovation is to build a post-project evaluation mechanism that can not only recognize the problems but also decide to shut down the project that performed poor, which will help Baling Petrochemical relieve the pressure of overcapacity and enhance the efficiency of resource allocation.