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Framework for Analyzing Public Investment Management

Framework for Analyzing Public Investment Management

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Tuan Minh Le, ICGFM Winter Conference 2011
Tuan Minh Le, ICGFM Winter Conference 2011

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05/13/2014

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lramework for Analyzlng Þubllc

lnvesLmenL ManagemenL
1uan Mlnh Le
ÞresenLed aL lCClM WlnLer Conference
WashlngLon uŦCŦ
uecember 6ţ 2011
1
Þerformance benchmarklng
2
5ootceť CoS1 (2011bť3)
ÞlnpolnLlng ÞlM problems
Well LxecuLed Þoorly LxecuLed
Cood Þro[ecLs A C
Þoor Þro[ecLs 8 u
3
A Iramework for assess|ng ÞIM
W 1wo plllars of Lhe approach
ueslrable feaLures of wellŴfuncLlonlng sysLem ln 8 cycles
ulagnosLlc lndlcaLors Lo assess acLual sysLem
W locus on how Lo lnform reform deslgn Lo
enhance efflclency by CapŴAnalysls
4
DesirabIe InstitutionaI
Features
ActuaI Functioning
ulagnosLlc
lndlcaLors
Cap
Analysls

1he elghL ºmusL 1he elghL ºmusLŴ Ŵhave" core ÞlM feaLures have" core ÞlM feaLures
-
1
Cu|dance
&
8creen|ng
2
Forma|
Project
Appra|sa|
3
Appra|sa|
Rev|ew
4
Project
8e|ect|on
&
ßudget|ng
7
8erv|ce
0e||very
ô
Project
6hanges
5
|mp|ement
at|on
8
Project
Eva|uat|on
PreŴfeosibi/ity
leosibi/ity

c84
kequ/otory
requirements
Project
deve/opment
uetoi/ed project
desiqn
8osic comp/etion
review
£vo/uotion
Ŧ Investment gu|dance Ǝ pre||m|nary screen|ng
W LxlsLence of credlble sLraLeglc guldance Lo Þl
naLlonal Þlanţ Þ8SÞţ LongŴLerm vlslon documenL
SupplemenLed by a secLor or subŴsecLor level sLraLegy
ea||sm of strategy re|at|ve to ava||ab|e resources?
W LsLabllshed process of flrsLŴlevel screenlng
8aslc conslsLency wlLh governmenL pollcy and
sLraLeglc guldance
CenLrallzed or delegaLed approval [usLlflcaLlon
Jat port|on of pro[ects screened are re[ected?
6
2Ŧ Iorma| Þro[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
Çua||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?

3Ŧ Independent ev|ew of Appra|sa|
W lndependenL peer revlew mlghL be necessary
Lo check any sub[ecLlveţ selfŴservlng 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
8
4Ŧ Þro[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 CƎM
W Lnsurlng adequaLe flnanclng for selecLed pro[ecLs
MulLlŴyear budgeL allocaLlon sysLem
Lv|dence of underŴfund|ngţ |arge stock of uncomp|eted pro[ects?
W LffecLlve gaLeŴkeeplng
Cnly appralsed and approved pro[ecLs are selecLed for
budgeL flnanclngţ excepL for emergency reason
Þercentage of pro[ects evaded estab||sed process?

SŦ Þro[ect Imp|ementat|on
W Þubllshed 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 CosLŴeffecLlve procuremenL and conLracLlng
Þort|on of compet|t|ve pro[ect tender|ng?
W A sysLem Lo prevenL lmprudenL cosLŴlncrease ln
lmplemenLaLlon
Lst|mates of cost overruns on ma[or pro[ects by spec|f|c sector?
Þercentage of cost overrun on ma[or pro[ects?
10
6Ŧ Þro[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?
11
ţ8Ŧ Iac|||ty Cperat|on Ǝ LxŴpost Lva|uat|on
W AsseL reglsLers need Lo be malnLalnedţ and asseL values
recorded
Lv|dence tat comp|ete asset reg|sters ma|nta|ned?
W LxŴposL 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?
12
8a[aramţ Anandţ 1uan Mlnh Leţ naLallya 8lleLskaţ and !ames
8rumbyŦ 2010ţ A uloqoostlc ltomewotk fot Assessloq lobllc
lovestmeot Moooqemeotţ World 8ank Worklng Þaper 3ţ
AugusL 2010Ŧ
ConsLrucLlon SecLor 1ransparency lnlLlaLlveŦ 2011Ŧ kepott
oo boselloe stoJlesť lotetootloool compotlsooŦ !anuary
2011Ŧ
SelecLed 8eferences
13

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