The Establishment And Application Of Pay-for-performance Mechanism Of PPP Projects From The Perspective Of Government

PPP is a model of cooperation between government and social capital,which refers to the "full process" partnership established by the government and social capital to provide public goods or services.With the gradual accumulation and expansion of the government's fiscal deficit,the population aging trend has increased the proportion of national public services expenditure.Under this background,the PPP model has been widely used in China.After the Ministry of Finance first proposed to promote and apply the PPP model in the"Report on the 2014 Central and Local Budgets",the PPP model has been developed in China for more than three years,and more and more projects have begun to operation period,the pressure on financial payment has increased year by year.How to make financial payment to the project company according to the project situation to make up for the lack of public product income has become a prominent problem.Therefore,it is a great significance both in theory and practice to study the establishment and application of the government pay-for-performance mechanism for PPP projects.The paper firstly analyzes the PPP project pay-for-performance mechanism and introduces the related concepts of pay-based payment mechanism.Combined with the development of the pay-for-performance mechanism of PPP projects at home and abroad,a pay-for-performance mechanism for PPP projects suitable for China is established.Secondly,the paper introduces stakeholder theory,KPI key performance indicators,and principal component analysis.In the construction of the index system,based on the KPI performance evaluation idea,18 key factors affecting the performance of the project company during the construction and operation period of the PPP project are extracted,and the Rickett five-point scale is designed based on the key factors and collect key factor weight scores from Stakeholders.In the research method,the principal components analysis method is used to analyze the key factors.The numerical analysis software is combined with the weight score to obtain the principal component factors.At the same time,the weight of each key factor is calculated by quantitative data,and the calculation formula of performance evaluation score is determined.The formula for calculating the amount of financial payment,combined with the financial payment process ofpublic goods in China,to construct a complete pay-for-performance mechanism.Finally,according to the PPP project of Ningxiang City's "Citizen's Home",through the investigation and analysis of stakeholders,the effective payment mechanism of the PPP project was established,and a set of targeted pay-for-performance mechanism was proposed for the project process.Comparing with the project when the relevant mechanism is not established,we can conclude from the actual implementation results that the perfect pay-for-performance mechanism provides a scientific basis for the financial payment of PPP projects,and an objective and reasonable pay-for-performance mechanism helps.Reduce the negotiation costs of related parties,strengthen the government's normal management of PPP projects and prevent corruption from occurring.