This study develops a phase-oriented evaluation mechanism based on the public–private partnership (PPP) project process and provides a preliminary framework for the promotion of the phase-oriented evaluation of PPPs in China.
Through a literature review and survey interviews the success criteria for the implementation process of PPPs are documented. Process success criteria findings are used to populate the content of the phase-oriented evaluation. The result is then tested, revised and improved through follow-up expert interviews.
This paper identifies PPP project process success criteria. Using these criteria, a phase-oriented evaluation framework is developed. Moreover, in consultation with industry experts in the PPP field, eight evaluation aspects were determined: confirmation of project compliance and performance, confirmation of value for money, confirmation of financial affordability, trend analysis of annual performance appraisal, risk review and early warning, rebankability analysis, project externality analysis, benchmarking analysis of similar projects. These eight application aspects are analyzed in the light of the outcomes of the resulting phase-oriented evaluation framework.
The results of the research can only provide researchers and practitioners with generic insights regarding inputs into a phase-oriented evaluation of PPP projects. For any specific PPP project, the focus and priority of the evaluative content will vary.
A phase-oriented evaluation of PPP projects is put forward. This will allow project stakeholders to better track the progress of projects throughout what can be a lengthy implementation stage.
This study can provide governments and stakeholders with a new, theoretical understanding as to factors required of an effective phased evaluation of China's PPP projects. In that regard it will be significant value in PPP project policy and decision-making.
