Weighting of Basic Indices for Value for Money Qualitative Evaluation of the Public-Private Partnership Aged Care Project through the Analytic Hierarchy Process

Abstract

The evaluation of value for money (VFM) is an essential part of the pre-evaluation of public-private partnership (PPP) projects in China. It can be divided into qualitative evaluation and quantitative evaluation. However, there is no uniform weighting criterion for the indices of qualitative evaluation. To reasonably weigh the qualitative evaluation indices, this paper sorts and measures these indices through the analytic hierarchy process (AHP), using the public data on preapplied PPP aged care projects, and obtains the reference values. On this basis, several suggestions were put forward to standardize and develop VFM evaluation of PPP aged care projects, such as improve the scientific VFM evaluation system and realize whole-process performance appraisal. Based on actual project data, the qualitative evaluation is more objective than the analysis based on subjective experience. Therefore, our findings promote the application of VFM qualitative evaluation.