Proceedings of the 2023 8th International Conference on Engineering Management (ICEM 2023)

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A Quantitative Evaluation Model and Application of Value for Money For PPP Projects on a Toll Expressway

Authors
Wang Hai-xia1, Chu Chun-chao2, *
1China Academy of Transportation Science, Beijing, P.R. China
2China Academy of Transportation Science, Beijing, P.R. China
*Corresponding author. Email: chucc79@163.com
Corresponding Author
Chu Chun-chao
Available Online 11 December 2023.
DOI
10.2991/978-94-6463-308-5_28How to use a DOI?
Keywords
expressway; public-private partnership; value for money; quantitative evaluation model; case study
Abstract

Value for money (VFM) evaluation of projects is a policy requirement of the government for the management of Public Private Partnership (PPP) projects. The key is to construct comparable and measurable reference objects with the project and establish models for quantitative evaluation. This article focuses on the investment, financing, and construction management characteristics of PPP projects on a toll expressway. The government toll expressway project is used as a benchmark reference project to determine the public sector comparator (PSC) value, and the PPP value of the project is determined based on the present value of the government’s net cost throughout the entire life cycle of a toll expressway PPP project. A quantitative evaluation model for the VFM of the toll expressway PPP project is developed. It considers factors such as different taxes and fees paid during the construction and operation period of government toll roads and toll expressway PPP projects, as well as different charging periods, to ensure the comparability, measurability, and applicability of the proposed model for the benchmark reference project. Finally, taking toll expressway Project A as an example, the proposed quantitative evaluation model of the VFM is applied to quantify VFM.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 8th International Conference on Engineering Management (ICEM 2023)
Series
Atlantis Highlights in Engineering
Publication Date
11 December 2023
ISBN
978-94-6463-308-5
ISSN
2589-4943
DOI
10.2991/978-94-6463-308-5_28How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Wang Hai-xia
AU  - Chu Chun-chao
PY  - 2023
DA  - 2023/12/11
TI  - A Quantitative Evaluation Model and Application of Value for Money For PPP Projects on a Toll Expressway
BT  - Proceedings of the 2023 8th International Conference on Engineering Management (ICEM 2023)
PB  - Atlantis Press
SP  - 261
EP  - 272
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-308-5_28
DO  - 10.2991/978-94-6463-308-5_28
ID  - Hai-xia2023
ER  -