Based On The Perspective Of The Construction Contractor Research On Pricing Of Bidding For Expressway PPP Projects

The development of the Public-Private-Partnership model has played a positive and important role in China.PPP promotes the reform of domestic systems and mechanisms,accelerates the transformation of government functions,revitalizes social stock capital,solves the lack of government unds,improves the efficiency of public finance and ensures the quality of public services.After sorting out,we determined that the total revenue during the operation period based on the toll fare quotation,the total project cost,the traffic flow,the financing rate and the cost during the operation period are the general boundary conditions for domestic high-speed PPP projects in the bidding stage.Due to the different characteristics of each expressway PPP project,how do the five boundary conditions affect the financial internal rate of return index FIRR in different PPP projects,and what are the respective slopes?Can the sensitivity be sorted by quantifying the data?So as to provide a reliable basis for scientific and efficient decision-making of final quotation and provide data reference support for the construction and operation of subsequent projects after winning the bid,which is an urgent problem to be solved in the research on bidding and pricing of PPP projects for construction contractors at this stage.In this paper,the motivation and starting point are to solve the pain points of the bidding and pricing of PPP projects of construction contractors.Combined with the current research methods commonly used in the bidding and pricing stage of domestic expressway PPP projects and adopt the current calculation method commonly used for infrastructure investment and construction projects-cash flow discount method(DCF),take the JX Expressway PPP project as an example,build a complete measurement model.On this basis,we established a double logarithmic measurement model according to the internal measurement data of the enterprise and quantified the dependent variable financial of the internal rate of return index FIRR to five different boundary conditions.The elasticity expression of the financial internal rate of return index FIRR to five different boundary conditions is obtained and the elasticity is sorted,Conclusion is that:total project cost>traffic flow>total operating period revenue>financing rate>operating cost.Through the research of this paper,the problems that common sensitivity analysis expressions are not intuitive and cannot be quantified are solved.It has innovated ideas for the bidding and pricing of PPP projects for subsequent construction contractors and improved the scientificity and efficiency of corporate decision-making.The innovation of this paper is mainly reflected in the following three aspects:Firstly,by using the internal measurement data of the enterprise to establish a double logarithmic econometric model for regression analysis,the financial internal rate of return index FIRR is used to quantify the elasticity of each independent variable.The positive and negative signs in the function expression intuitively represent the positive and negative effects of independent variable changes on the dependent variable.Secondly,the order of magnitude of the absolute value of the elastic coefficient provides a reference and basis for scientific and efficient decision-making of PPP project bidding and pricing for construction contractors.Lastly,the elastic coefficient function expression provides the possibility to directly calculate the FIRR value.The above innovations have innovative ideas and practical reference significance for the bidding and pricing of PPP proj ects of construction contractors.