The optimized strategy of urban rail transit project under Public-Private-Partnerships in China: Based on the maximum government benefit

摘要

As the Public-Private-Partnership (PPP) in the domain of urban rail goes further, government policy makers care more about if any acceptable decision exists in project and maximum extent of Value for Money (VFM). However, the existing decision-making evaluation method may provide invalid and inaccurate results of the two questions. This paper proposes an optimized method which establishes a nonlinear programming model to find the decision that satisfies the private sector with reasonable payback while maximizing VFM and takes the maximum VFM value as a judge. According results of multiple independently repeated trials, the optimized method could provide valid evaluation results of the two questions under 5 scenarios of PPP project decision with the least one-time accurate rate above 76%. Thus, method pro-posed in this paper could be used as an auxiliary tool for urban rail transit project PPP decision making.