A Diagnostic Framework for Assessing Public Investment Management

Rajaram, Anand; Le, Tuan Minh; Biletska, Nataliya; Brumby, Jim

dc.creator	Rajaram, Anand
dc.creator	Le, Tuan Minh
dc.creator	Biletska, Nataliya
dc.creator	Brumby, Jim
dc.date	2012-03-19T18:41:29Z
dc.date	2012-03-19T18:41:29Z
dc.date	2010-08-01
dc.date.accessioned	2023-02-17T21:05:14Z
dc.date.available	2023-02-17T21:05:14Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100809092806
dc.identifier	http://hdl.handle.net/10986/3881
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244845
dc.description	This paper provides a pragmatic and objective diagnostic approach to the assessment of public investment management systems for governments. Since weaknesses in public investment management can negate the core argument that additional fiscal space allocated to public investments could enhance future economic prospects, attention to the processes that govern public investment selection and management is critical. The paper begins with a description of eight key "must-have" features of a well-functioning public investment system: (1) investment guidance, project development, and preliminary screening; (2) formal project appraisal; (3) independent review of appraisal; (4) project selection and budgeting; (5) project implementation; (6) project adjustment; (7) facility operation; and (8) project evaluation. The emphasis is placed on the basic processes and controls (linked at appropriate stages to broader budget processes) that are likely to yield the greatest assurance of efficiency in public investment decisions. The approach does not seek to identify best practice, but rather to identify the "must have" institutional features that would address major risks and provide an effective systemic process for managing public investments. The authors also develop a diagnostic framework to assess the main stages of the public investment management cycle. In principle, the identification of core weaknesses will allow reforms to focus scarce managerial and technical resources where they will yield the greatest impact. In addition, the framework is intended to motivate governments to undertake periodic self-assessments of their public investment systems and design reforms to enhance the productivity of public investment.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5397
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING PRINCIPLES
dc.subject	ACCOUNTING SYSTEM
dc.subject	ACCRUAL ACCOUNTING
dc.subject	AFFILIATED ORGANIZATIONS
dc.subject	ALLOCATION
dc.subject	ALLOCATION OF FUNDS
dc.subject	ANNUAL APPROPRIATIONS
dc.subject	ANNUAL BUDGET
dc.subject	ANNUAL BUDGET PREPARATION
dc.subject	APPROPRIATIONS
dc.subject	ASSET PORTFOLIO
dc.subject	ASSET VALUE
dc.subject	ASSET VALUES
dc.subject	ASSETS
dc.subject	BALANCE SHEETS
dc.subject	BID
dc.subject	BIDDING
dc.subject	BUDGET ALLOCATION
dc.subject	BUDGET ALLOCATIONS
dc.subject	BUDGET CLASSIFICATION
dc.subject	BUDGET CONSTRAINT
dc.subject	BUDGET CYCLE
dc.subject	BUDGET DISCUSSIONS
dc.subject	BUDGET FRAMEWORK
dc.subject	BUDGET PREPARATION PROCESS
dc.subject	BUDGET PROCESS
dc.subject	BUDGETARY DECISIONS
dc.subject	BUDGETARY PROCESS
dc.subject	BUDGETING
dc.subject	CAPACITY BUILDING
dc.subject	CAPITAL BUDGET
dc.subject	CAPITAL BUDGETING
dc.subject	CAPITAL EXPENDITURE
dc.subject	CAPITAL PROJECTS
dc.subject	CASH BASIS
dc.subject	CENTRAL GOVERNMENT
dc.subject	CHECKS
dc.subject	COMPETITIVE BIDDING
dc.subject	CORRECTIVE ACTIONS
dc.subject	COST EFFECTIVENESS
dc.subject	COST-BENEFIT ANALYSIS
dc.subject	COUNTRY PROCUREMENT
dc.subject	COUNTRY PROCUREMENT ASSESSMENT
dc.subject	DATA COLLECTION
dc.subject	DECISION-MAKERS
dc.subject	DECISION-MAKING
dc.subject	DELIVERY OF SERVICES
dc.subject	DESCRIPTION
dc.subject	DEVELOPING COUNTRIES
dc.subject	DIAGNOSTIC ASSESSMENT
dc.subject	DISBURSEMENT
dc.subject	DISBURSEMENTS
dc.subject	ECONOMIC GROWTH
dc.subject	EQUIPMENT
dc.subject	EX POST EVALUATIONS
dc.subject	EX-POST EVALUATION
dc.subject	EXISTING ASSETS
dc.subject	EXPENDITURE
dc.subject	FINANCE MINISTRY
dc.subject	FINANCIAL ACCOUNTABILITY
dc.subject	FISCAL BALANCE
dc.subject	FISCAL FRAMEWORK
dc.subject	FISCAL POLICY
dc.subject	FIXED CAPITAL
dc.subject	FRAUD
dc.subject	GOVERNMENT POLICY
dc.subject	GOVERNMENT PRIORITIES
dc.subject	HOSPITALS
dc.subject	HUMAN CAPITAL
dc.subject	INFLATION
dc.subject	INFRASTRUCTURE PROJECTS
dc.subject	INSTITUTIONAL ARRANGEMENT
dc.subject	INSTITUTIONAL ARRANGEMENTS
dc.subject	INSTITUTIONAL CAPACITY
dc.subject	INSTITUTIONAL FRAMEWORK
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL FIRMS
dc.subject	INTERVENTION
dc.subject	INVENTORY
dc.subject	INVESTMENT BUDGET
dc.subject	INVESTMENT DECISION
dc.subject	INVESTMENT DECISIONS
dc.subject	INVESTMENT EFFICIENCY
dc.subject	INVESTMENT MANAGEMENT
dc.subject	INVESTMENT PROGRAM
dc.subject	INVESTMENT PROJECTS
dc.subject	INVESTMENT STRATEGIES
dc.subject	JUDGMENT
dc.subject	JUDGMENTS
dc.subject	MANAGING PUBLIC EXPENDITURE
dc.subject	MINISTRY OF FINANCE
dc.subject	MONETARY VALUE
dc.subject	NET PRESENT VALUE
dc.subject	NPV
dc.subject	PERFORMANCE INDICATORS
dc.subject	PHYSICAL ASSETS
dc.subject	POLITICAL ECONOMY
dc.subject	PORTFOLIO
dc.subject	POVERTY REDUCTION
dc.subject	PRIVATE SECTOR
dc.subject	PROCUREMENT PLANS
dc.subject	PROGRAMS
dc.subject	PUBLIC EXPENDITURE
dc.subject	PUBLIC EXPENDITURE MANAGEMENT
dc.subject	PUBLIC EXPENDITURE REVIEW
dc.subject	PUBLIC FINANCE
dc.subject	PUBLIC INFRASTRUCTURE
dc.subject	PUBLIC INVESTMENT
dc.subject	PUBLIC INVESTMENT PROGRAM
dc.subject	PUBLIC INVESTMENTS
dc.subject	PUBLIC OFFICIALS
dc.subject	PUBLIC PRIVATE PARTNERSHIPS
dc.subject	PUBLIC SECTOR
dc.subject	PUBLIC SECTOR REFORM
dc.subject	RATE OF RETURN
dc.subject	RECURRENT COST
dc.subject	REMEDIES
dc.subject	RESOURCE AVAILABILITY
dc.subject	RETURNS
dc.subject	RISK ASSESSMENT
dc.subject	SANITATION
dc.subject	SECTOR MINISTRIES
dc.subject	SERVICE DELIVERY
dc.subject	STATEMENT
dc.subject	SUPREME AUDIT INSTITUTION
dc.subject	TENDERING
dc.subject	TITLE
dc.subject	TRANCHES
dc.subject	TRANSITION COUNTRIES
dc.subject	TREASURY
dc.subject	UNPAID BILLS
dc.subject	VALUATION
dc.subject	VALUE OF ASSETS
dc.title	A Diagnostic Framework for Assessing Public Investment Management
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region