Public Investment Life-Cycle Management (PIM)
“Getting good value for money from public investment is not just about having a good system of appraisal or a good budgeting system” *, one must actively manage the whole investment life cycle from appraisal and selection over project implementation to the investment benefit period. This seminar will interpret features of investment life-cycle management using the Value for Money (VfM) approach. It stimulates participants to devise comprehensive strategies for efficient investment management.
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Practical Objectives:
- Enhance the performance of public investment management.
- Strengthen managerial and leadership skills in relation to modern public investment.
- Increase participants’ knowledge and understanding of public administration.
Training Seminar Topics
General Notions
Investment and wealth creation. Principles of Value for Money (VfM). Public goods and market failures. Characteristics of capital investment. Investment life cycle. Identified weaknesses of current public investment systems.
Value Assessment
Investment and strategy. Investment project governance. Appraisal methods, selection and budget allocation. Biases and risk. PPPs.
Value Development
Project implementation and annual budget cycles. Procurement and contract management. Evidence-based monitoring of projects and the portfolio. Balancing of the investment inventory.
Value delivery: operations and maintenance. Sustainability issues
Value Validation
RBM and ex-post investment evaluations. Learning and institutional memory.
Assessment Methods of Public Investment Systems
PIMA methodology.