lramework for Analyzlng ubllc

lnvesLmenL ManagemenL
1uan Mlnh Le
resenLed aL lCClM WlnLer Conference
WashlngLon uC
uecember 6 2011
1
erformance benchmarklng
2
5ootce CoS1 (2011b3)
lnpolnLlng lM problems
Well LxecuLed oorly LxecuLed
Cood ro[ecLs A C
oor ro[ecLs 8 u
3
A Iramework for assess|ng IM
W 1wo plllars of Lhe approach
ueslrable feaLures of wellfuncLlonlng sysLem ln 8 cycles
ulagnosLlc lndlcaLors Lo assess acLual sysLem
W locus on how Lo lnform reform deslgn Lo
enhance efflclency by CapAnalysls
4
DesirabIe InstitutionaI
Features
ActuaI Functioning
ulagnosLlc
lndlcaLors
Cap
Analysls

1he elghL musL 1he elghL musL have" core lM feaLures have" core lM feaLures
-
1
Cu|dance
&
8creen|ng
2
Forma|
Project
Appra|sa|
3
Appra|sa|
Rev|ew
4
Project
8e|ect|on
&
udget|ng
7
8erv|ce
0e||very

Project
6hanges
5
|mp|ement
at|on
8
Project
Eva|uat|on
Prefeosibi/ity
leosibi/ity
c
c84
kequ/otory
requirements
Project
deve/opment
uetoi/ed project
desiqn
8osic comp/etion
review
vo/uotion
Investment gu|dance pre||m|nary screen|ng
W LxlsLence of credlble sLraLeglc guldance Lo l
naLlonal lan 8S LongLerm vlslon documenL
SupplemenLed by a secLor or subsecLor level sLraLegy
ea||sm of strategy re|at|ve to ava||ab|e resources?
W LsLabllshed process of flrsLlevel screenlng
8aslc conslsLency wlLh governmenL pollcy and
sLraLeglc guldance
CenLrallzed or delegaLed approval [usLlflcaLlon
Jat port|on of pro[ects screened are re[ected?
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2 Iorma| ro[ect Appra|sa|
W LxlsLence of well publlclzed and LransparenL
appralsal guldellne
Larger pro[ecLs requlrlng more rlgorous LesLs of flnanclal
and economlc feaslblllLy and susLalnablllLy
ua||ty of gu|dance? ate of re[ect|on?
W CapaclLy of sLaff wlLh pro[ecL evaluaLlon skllls
An esLabllshed process for Lralnlng sLaff ln pro[ecL
evaluaLlon Lechnlque
Number of staff w|t eva|uat|on sk|||s?

3 Independent ev|ew of Appra|sa|

W lndependenL peer revlew mlghL be necessary
Lo check any sub[ecLlve selfservlng blas
W ClarlLy of speclflc responslblllLles
A mulLlpllclLy of players wlLh unclear accounLablllLles can
overburden Lhe appralsal sysLem
A forma| de|egat|on a||ow|ng centra| appra|sa| system to
rev|ew appra|sa| of re|at|ve|y |mportant pro[ects
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4 ro[ect Se|ect|on and 8udget|ng
W 1ransparenL crlLerla for selecLlng pro[ecLs
W Appralsal process ls llnked Lo Lhe budgeL cycle
MalnLalnlng an lnvenLory of appralsed pro[ecLs
Clear requlremenLs for conslderaLlon of CM
W Lnsurlng adequaLe flnanclng for selecLed pro[ecLs
MulLlyear budgeL allocaLlon sysLem
Lv|dence of underfund|ng |arge stock of uncomp|eted pro[ects?
W LffecLlve gaLekeeplng
Cnly appralsed and approved pro[ecLs are selecLed for
budgeL flnanclng excepL for emergency reason
ercentage of pro[ects evaded estab||sed process?

S ro[ect Imp|ementat|on
W ubllshed guldellne for pro[ecL lmplemenLaLlon
W Clear organlzaLlonal arrangemenLs and a reallsLlc
LlmeLable Lo ensure Lhe capaclLy Lo lmplemenL
Samp|e of pro[ect de|ays |n |mp|ementat|on?
W CosLeffecLlve procuremenL and conLracLlng
ort|on of compet|t|ve pro[ect tender|ng?
W A sysLem Lo prevenL lmprudenL cosLlncrease ln
lmplemenLaLlon
Lst|mates of cost overruns on ma[or pro[ects by spec|f|c sector?
ercentage of cost overrun on ma[or pro[ects?
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6 ro[ect Ad[ustment
W llexlblllLy Lo allow changes ln dlsbursemenL plan
accordlng Lo changed clrcumsLances
W AcLlve monlLorlng and perlodlc progress reporLlng
updaLed cosL and beneflL
equ|rement for updat|ng pro[ect documents dur|ng
construct|on?
W Mechanlsms Lo sLop pro[ecLs wlLh negaLlve marglnal
beneflLs
Lxamp|e of pro[ects cance||ed or c|osed on te account of
canged net benef|ts?
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8 Iac|||ty Cperat|on Lxpost Lva|uat|on
W AsseL reglsLers need Lo be malnLalned and asseL values
recorded
Lv|dence tat comp|ete asset reg|sters ma|nta|ned?
W LxposL LvaluaLlon of compleLed pro[ecLs
locus on Lhe comparlson of Lhe ouLpuLs and ouLcomes
wlLh Lhe esLabllshed ob[ecLlves ln pro[ecL deslgn
leedback Lo lmprove fuLure pro[ecL deslgn and
lmplemenLaLlon
Lv|dence of response to te eva|uat|on f|nd|ngs?
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8a[aram Anand 1uan Mlnh Le naLallya 8lleLska and !ames
8rumby 2010 A uloqoostlc ltomewotk fot Assessloq lobllc
lovestmeot Moooqemeot World 8ank Worklng aper 3
AugusL 2010
ConsLrucLlon SecLor 1ransparency lnlLlaLlve 2011 kepott
oo boselloe stoJles lotetootloool compotlsoo !anuary
2011
SelecLed 8eferences
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